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Updated almost 4 years ago on . Most recent reply

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Monte K.
  • Kensington, MD
1
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4
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eRentPayment alternative now that Zelle is imposing daily limits?

Monte K.
  • Kensington, MD
Posted

Several years back when I was a landlord, I was using eRentPayment at the advice of this site. In the past year, I've been renting a private home and we've been paying our landlord using Zelle. Unfortunately, Zelle just reduced their daily limits to $500/day (at least with Ally bank), so this solution is no longer workable for rent payments.

I was going to suggest that our landlord use eRentPayment since we had great success using it several years ago, but then I discovered the ongoing problem with their payment provider.

What's everyone using now that's similar? We just need to be able to successfully transfer money monthly without using checks. 

Most Popular Reply

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5,116
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Kyle J.
  • Rental Property Investor
  • Northern, CA
5,172
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Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied

@Monte K.  A few different options.  Try using another bank.  Your Zelle limit with Ally might be $500, but I just checked my limit with Chase bank and it's $5,000 on sending money and unlimited on receiving money. 

If you don't want to switch banks, consider using Venmo.  I believe their person-to-person limit is $4,999.99.

Lastly, you might also consider using Cozy.  It's specifically for rent-collection, and I don't even think they have a limit. 

All of the above options would allow you to electronically transfer money without using checks, and are free for both you and the landlord.

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