--99.92.xxx.xxx

I've used it happily for over ten years now it's never a problem. It's the required form of payment to rent one of my homes. --173.170.xxx.xxx

Or even the local bank,you can trust most of them today,maybe not all......... Charlie.... --174.192.xx.xxx

I've been using Paypal for at least 18 years--- but I've never considered accepting it for anything important, like the biz. Perhaps it's improved since then, but it's not a gamble I'd care to take. --96.46.xxx.xx

I pay $35 per month and 10 cents per “batch” plus 10 cents per transaction within that batch. So a batch of 10 transactions has a marginal cost of $1.10. --166.137.xxx.xx

--131.151.xx.xx

Hoosier, find a bank that offers free ACH. They are everywhere. --72.172.xxx.xx

(Not really seeing how the banks help me like I thought they did. So I try to stay clear of them. Traditional banks...) --96.241.xxx.xx

Even ClearNow was too expensive for me. Check into Zelle. --204.210.xxx.xxx

I use PayPal a lot for paying contractors but I wouldn't accept it for rent. At 2.9% plus the fee would cost around $50/ rent check. I use Viewpost and require it from all tenants. It cost .50 for a digital payment that drops into my account in a day. All of the other services sit on the payment for 2 to 3 days on top of their ridiculous fees. --71.75.xx.xx

Razor they quoted me $250 one time setup fee plus $75/mo. We have 5 properties --99.92.xxx.xxx

One person suggested using a local bank...I AM using a local bank. --99.92.xxx.xxx

Just a few comments. If you use Quickbooks for your accounting, you could do your rents for $.50 each. No setup fee, no minimum. QB also will debit the bank account on a preselected date. Again $.50 per debit. I do pay contractors with some other apps, like Venmo or Google Pay. It’s free. To me Clear Now looks very expensive. --173.174.xxx.x

Clearnow is expensive? It's $14.95 for the first draft and $2 for each draft thereafter. This includes the other features as well. So it costs me $2.37 per property. After tax that's $1.84. Peanuts. And piece of mind which is priceless. --173.170.xxx.xxx

I don't want to accept rent in any manner where the tenants could do a charge back, so no credit cards, no PayPal. --174.216.xx.xxx

Estimating you have about 40 properties, it looks like you’re spending about $75 more per month with Clearnow than you would with Quickbooks. About $900 per year. To me that seems expensive. --173.174.xxx.x

Quick books drafts rent directly out of tenants bank account? How much do they charge per property for this service? --173.170.xxx.xxx

$.50 per draft. You can draft any day. You get the money in your account in 2-3 days. Or, the tenant can simply pay by clicking a link on an invoice you send automatically. That’s $.50 as well. Money in the bank in 2-3 days. I’ve been using it 5-6 years with no issue. Quickbooks will enter the transactions automatically in your books. --173.174.xxx.x

Are the drafts controlled/initiated by the Landlord or the tenant? Isn't there an annual cost to use the quickbooks program in addition to the monthly draft fee? What are the other costs of using Quickbooks so I can compare to what I use? --173.170.xxx.xxx

Yes there’s a cost to Quickbooks. QB Online has several versions. The one I use is $50 per month. It allows me to break down my income by unit. I don’t think of that as a cost for drafts because I would have an accounting cost regardless of how I collected my rent. Either way, it still cheaper, and you get a full accounting program. Unless Clearnow also provides full accounting software. The drafts are initiated by the landlord, and can be automated. Or as I said above, they can be tenant initiated if you choose to do it that way. Personally I prefer the tenant imitated method, just in case the money is not in the bank. But I’ve had tenants who have begged for the draft. Lol. There is a bad check charge of $10. Quickbooks charged you, but I charge the tenant $35. Other than that $.50 per draft, no minimum. --174.207.xx.xxx

It would save me to use that one company rather than the two I currently use. But I've been very happy with what I use although it costs more. I'm in the downsizing mode so it makes sense to keep my grandfathered accounting plan for now. But it's nice to know there are some cost saving options out there. Then there is the hassle factor in switching to a new payment system. --173.170.xxx.xxx