Fastest AND cheapest ways to accept payments from tenants

[Eugene Lavatman]

Hello BiggerPockets community, we have been accepting payments from tenants using Zelle, Venmo and Paypal. Zelle and Venmo requires  tenants to have an American bank account. We can receive the payment INSTANTLY and FOR FREE, no processing fee.

The problem is Venmo limits you to $20,000 withdrawn per week.

Zelle can only be used for folks who use major USA banks (some folks have unsupported banks and cant use Zelle).

PayPal we use as a back-up if tenant does not have an American bank, but there is a 3% processing fee, we require tenants to pay that 3%  processing fee if they use PayPal.

All three payment methods allow us to do instant transfers. We have been able scale our business for a while but are now just a bit too big to use these methods for accepting payments. It takes too damn long to do accounting and limitations wont allow us to scale.

We are interested in receiving payments using REAL TIME PAYMENT network from clearing house (push payments) or SAME DAY ACH / NEXT DAY ACH. Venmo recently created Venmo for business but they charge 1.9% + $0.10 per transaction. Traditional gateways like Stripe charge 3% processing fee and Appfolio takes too long to process ACH payments. Please help!