Pop Money Fail (by GKARL [PA]) Feb 12, 2019 11:12 AM|
Pop Money Fail (by Deanna [TX]) Feb 12, 2019 11:32 AM
Pop Money Fail (by small potatoes [NY]) Feb 12, 2019 11:34 AM
Pop Money Fail (by cathy [CA]) Feb 12, 2019 12:47 PM
Pop Money Fail (by GKARL [PA]) Feb 12, 2019 1:08 PM
Pop Money Fail (by Shaun [FL]) Feb 12, 2019 2:11 PM
Pop Money Fail (by GKARL [PA]) Feb 12, 2019 3:31 PM
Pop Money Fail (by GKARL [PA]) Feb 12, 2019 4:27 PM
Pop Money Fail (by DJ [VA]) Feb 12, 2019 4:56 PM
Pop Money Fail (by WL [CA]) Feb 12, 2019 10:13 PM
Pop Money Fail (by GKARL [PA]) Posted on: Feb 12, 2019 11:12 AM
I just tried sending money via Pop Money and they suspended my account since it was the first time sending money. A similar thing occurred with Zelle, but the big difference is that a phone call to the bank resolved the issue in minutes. It will take Pop Money three days to resolve, not to mention I was on hold for 10 minutes before talking with someone.
I can't begin to imagine the nightmare collecting rents this way. Scratch this method off the list. For now, rooming house tenants will need to deposit at the bank or use Zelle until I come up with another method. My lesson here is the vette all of these services prior to attempting to implement.
Pop Money Fail (by Deanna [TX]) Posted on: Feb 12, 2019 11:32 AM
When I had my tenant with Chase QuickPay, I had to sign up, and QuickPay did a few trial back-and-forths with, like, three cents or twelve cents or something like that, to get us started. Then after the trial deposits/withdrawals were verified as having gone through correctly-- which took about three days to do so-- he could proceed to send me the full rental amount through QuickPay on a regular basis.
I think QuickPay eventually combined with Zelle.
In my case, the sending person already had a Chase account, so it wasn't a big deal for me to sign on as a recipient-- but I'm surprised that there aren't layers of precaution built in to keep people from souring from an initial bad experience. --96.46.xxx.xx
Pop Money Fail (by small potatoes [NY]) Posted on: Feb 12, 2019 11:34 AM
GKARL, were you considering bluebird? I looked at it after you mentioned it and downside I saw was that it is Amex not Visa, but thought it might be a good option for my money order tenants who are in Walmart anyway. --24.194.xx.xx
Pop Money Fail (by cathy [CA]) Posted on: Feb 12, 2019 12:47 PM
I've never tried to send money via Pop$, but three of my tenants use it successfully to deposit their rent.
Good luck to you! --68.109.xx.xxx
Pop Money Fail (by GKARL [PA]) Posted on: Feb 12, 2019 1:08 PM
Deanna--Pop did the same thing with the bank accounts. I then added a debit card so I could send money to one of my kids. They verified the debit card via text. Once I sent the money, they suspended the account. Up to that point, I had no problem as I figured that would be resolved quickly. Where the problems began were the 10 minute hold with customer service and then the 3 days for someone to get back to to unlock the account. Also, with Pop money, you don't get the money until you grab it and deposit it into linked accounts. Until you do that, the transaction can be cancelled. If a tenant encountered the same thing sending for the first time initially, that's very problematic. The only way I would allow a tenant to use is to send me a small amount several days in advance of the rent so they could be verified. Secondly, I would have to require that they use a debit card. The money is good in one day with a debit card and there's a three day delay with a bank account. Not all debit cards work with the system, so a test send with tenants would be absolutely be necessary to avoid late rent. I'm going to tell anyone using this option to setup a test send to me of $ 5 that I will subtract from their rent and require this test be completed 7 days prior to the rent due date before I will allow them to use it. It's a complication that I didn't anticipate and one that did not come up with Zelle. Moreover, with Zelle, the receipt of the money is instant.
Small: I set up a Bluebird account and I'm waiting on my debit card to complete the set up. I'm going to test and if it works, I'll add that as an option. --209.122.xx.xxx
Pop Money Fail (by Shaun [FL]) Posted on: Feb 12, 2019 2:11 PM
I use Google Pay. No problems, thus far.
Pop Money is free with my Credit Union, however the amount limit was not high enough for monthly rent amounts.
Pop Money Fail (by GKARL [PA]) Posted on: Feb 12, 2019 3:31 PM
Shaun, you mentioned this the other day. I'm checking it out. Looks pretty simple to implement and is very similar to Bluebird. It looks like the fastest way to get paid is via debit card (1 day) if you transfer by bank account, it's the same as Pop Money (3 days). The advantage that google has is it's free to send and receive. Looks like you can almost maintain your account on their platform also. --209.122.xx.xxx
Pop Money Fail (by GKARL [PA]) Posted on: Feb 12, 2019 4:27 PM
Shaun: I just tested a transaction between two google pay accounts I set up and it worked perfect. Very simple. The only issue, which isn't unique to Google Pay, is that some prepaid debit cards don't work. For my rooming house tenants, that means they transfer money to a bluebird debit card or a bank debit card or just deposit the rent at the bank. This is way simpler than Pop Money. Support was timely and easily accessible via chat as well. Thanks for drawing my attention to this! --209.122.xx.xxx
Pop Money Fail (by DJ [VA]) Posted on: Feb 12, 2019 4:56 PM
Thanks for the updates - great information! --68.10.xxx.x
Pop Money Fail (by WL [CA]) Posted on: Feb 12, 2019 10:13 PM
I always send a test payment through when enrolling a new tenant on Popmoney - usually $10. Remember, if the transaction gets screwed up, the money could be lost since there is no clawback. Also, Popmoney doesn't work with savings accounts - had to set up a dedicated checking account for that apartment. --201.140.xxx.xx