There are plethora of landlord platforms that force you to use their own 3rd party banks to deposit rent and charge $2.5-$5 per transaction to directly ACH into bank of your choice (ex: I love Chase Bank). I'm honestly fed up with these platforms because of limitations of their features and terrible banking practices. Have you come across a landlord / rent collection platform that does not charge fees to ACH your bank of choice? I'm open to other creative methods such as Cash App, Paypal, etc. ... but I believe that they charge for automatic ACH payments. Chase Bank does ACH collections, but they charge for it as well.
Please advise your best practices to collect fee-free, auto-pay ACH to your bank of choice. Thank you! Please no promotions.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2y
I gave my tenant a form from Wells Fargo, they signed it and presented it to their bank. ‘Wings”? They’ve made 7 years of ACH deposits on the 1st of the month, regardless of day, for zero charge by their bank or WF.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
2y
@Bhushan Shinkre my bank does not charge if they originate the charge from their bank. i don't see apartments.com charging me. I don't know if they charge the tenant.