55

Is it normal that rent cannot be paid using electronic methods such as a credit/debit card, or a bank transfer, or Paypal, or anything electronic? It's fairly common, especially with smaller companies/independent landlords. Many of the other more convenient payment methods carry transaction/merchant fees, and many landlords don't have the kind of ...


52

It means that the merchant (here, a university)'s process is to deceive their processor by falsely submitting the charge as a "CVV2 with Magnetic Stripe failure" transaction. Having the card present during a transaction reduces fraud, so the card issuer and processing network are less likely to incur fraud investigation costs (or even eat the whole charge), ...


39

Is it normal that rent cannot be paid using electronic methods such as a credit/debit card, or a bank transfer, or Paypal, or anything electronic? It's highly dependent on the landlord/property manager. Can checks be obtained without going into a physical bank? Yes: online bill payment. (I configured my online bill payment service to automatically snail ...


37

This violates PCI-DSS They are only allowed to use security code or fullstripe data momentarily during a transaction. They are not allowed to retain it, even for a minute. Even worse, this form has the fivefecta of the 3 credit card fields, cardholder name and Billing ZIP. That's all you need to plug into most website order forms. This document ...


27

As of 2016 in the U.S., 42% of rent payments are made by check, 22% by cash, 16% by money order (so: 80% by some physical paper transaction). Only 20% or less were by electronic payments. https://www.bostonfed.org/publications/research-data-report/2016/how-do-people-pay-rent.aspx This is not exactly the same as landlords refusing electronic payments. But ...


26

The reason that they are asking for it is because they need it in order to process the credit card payment. They are required by their credit card processor to enter it. If you do not provide it, they will not be able to charge your credit card. If you want to pay for this service with your credit card, then yes, you should provide them with this code. ...


12

With BofA, you can just enter their address and it will mail them a check instead of needing to wire it to them. You don't need your landlords permission to do this (just let him know to expect the check in the mail). I did this for years, and other than the fact that the arrival date may vary by a day or two (presumably due to mail or processing delays), ...


12

A standing order is still the right way to do this. Most bank accounts have online access and will let your customer setup the standing order online, without having to fill in a paper form.


11

Just one other tack that I didn't see in the other answers: If someone refuses to pay rent, it takes months of annoying work to evict them and even then the recalcitrant tenant might do a bunch of damage. But if someone writes you a bad check, there's a whole new pile of laws that you can bring to bear on them. Even if you don't have any money, creditors ...


8

This is completely insecure and personally, I wouldn't supply the info. As you've reasoned, you will have no idea how your information is used once it's left your hands, and you'll never know if it's been disposed of properly (shredded/destroyed). Furthermore, the fact that they follow such insecure practices tells you that at the institution level they ...


7

I don't have statistics handy, so I don't know what percentage of landlords want a paper check. But it's certainly not unheard of. Especially if the landlord is a small time operation with just one or two properties. As to can you get checks without going to a physical bank, sure. I haven't gone to a bank office to buy checks in decades. There are companies ...


6

Placing all of the information required to authorize a card not present transaction on a paper form that will be subject to potential mail theft of skimming in the office is not a particularly good idea. Other answers mention things the school should do. This is not a helpful way to think about the problem... you are not the school and have no agency over ...


6

Canadians can email or text each other money through Interac. It is fast - the longest it's ever taken for me is 20 minutes, often it's less - and secure. You don't need to know each other's banking details or even real names. I've used this to send money to my children, each of whom uses a different bank than I do, and they've used it to send money to ...


6

this is to prevent fraud, and there is likely nothing (through paypal) that you can do to speed up the process apart from making sure you verify all the accounts linked to PayPal (bank, credit, etc) and that your relatives do the same. Be mindful that Paypal is NOT intended as a large sum transfer service - they are a convenience for online payments. Using ...


6

Is this the same as ACH? It's not "the same as ACH", it is ACH. All the transfers to and from your bank accounts to Square/PayPal/other bank accounts go through ACH. The exception is wire-transfer, which goes in a different (and much faster, and more expensive) route.


6

To answer: What if the payee (or the payer) makes a mistake in the account number Direct payment (via online banking) is pretty common in my country (UK). There is a real chance that if you make a mistake the money will not be recoverable, since the bank only undertakes to do what you tell them to do, not what you intended to do. While not necessarily ...


5

Yes, many banks offer such a service. Often such payments can be made through their "bill pay" interface. You log in to your account on the bank's website, enter the recipient's routing and account numbers, and off you go. You could ask your bank whether they offer this. If not, you could change banks to one that does.


5

Unless there was a mistake that you can blame on the bank (e.g.: they copied the numbers wrong from the form you filled), wires generally cannot be reversed.


5

Cash is an option. It's less common than in Europe, but 40 £20 notes are not that difficult to count or keep secure. If you are worried about security, you also need to worry about the "purchaser" just running off with the laptop without even pretending to pay.


5

Every bank with which I have a checking account has a “Bill Pay” feature within their online banking portal, which allows users to have a paper check sent, by mail, to any address, at no cost. We have used this feature to pay music teachers, local farms, and others who prefer to receive paper checks. Of course you have to allow for 5-7 days delivery time, ...


4

If the error is because of you, you can request the Bank to see if there is a possibility of recall. However this is normally available only to large corporates. There is a window by the time you submit an instruction to the bank and the time it is fulfilled and recall is technically feasible. Once the Bank has processed the instruction, reversals / recall's ...


4

It's almost entirely safe to give out your sort code and account number. You already do this if you ever write a cheque, for example. There is a small risk that someone could set up a fraudulent direct debit in your name. But those can only be to organisations that accept direct debits so there's not much motive to do it, and you'd be able to reverse it as ...


4

I have been a landlord, I have no idea how I would have gone about accepting electronic payments and most of my renters paid cash because they didn’t have checking accounts. When paid with a check, I went to their bank to cash it to ensure that it wouldn’t bounce and if offered a check from out of my area, I would have refused it and asked for cash or money ...


3

In order to do that, merchants or payments-companies are using mechanism of tokens: when a customer is registered to the service or during the first payment the customer is required to pass its payment method details (the card credentials). Then the company that supply the service store a token that hold the data of the card and then in additional use the ...


3

I am not aware of a version of Interac available in the U.S., but there are alternative ways to receive money: Cheque. The problem with mailed cheques is that they take time to deliver, and time to clear. If you ship your wares before the cheque has cleared and the cheque is bad, you're out the merchandise. COD. How this works is you place a COD charge on ...


3

It depends on the bank and network. Banks are to provide outgoing data at the certain time for the processing by the central clearing house (the Federal Reserve system, for ACH), which then distributes incoming data back to the banks. All this has to be done between the closing of the business day and the opening of the next one. If the transaction hasn't ...


3

You can speed up the process. Tell the person sending you the money, to log in in to their Paypal account and to click "confirm receipt" next to transactions related to their sending to you. After this, the money will be relased immedidiately.


3

Square prices are hard to beat for a small operation. I've looked around when I was considering starting up a business, and they're definitely one of the cheapest. Paypal are the second best, but I do not trust Paypal in general. However, looking locally may provide you some more options. If you walk in to one of the local banks, you may be able to get ...


3

For businesses paying you, ask them to send you money via automated clearinghouse (ACH). This is the same system as direct deposit and is equivalent to writing you a check. You will need to provide the routing number and account number for your bank. In fact, if you ever do business with the US Government, they are required by law to use ACH instead of ...


2

You could buy a money order with your cash, then mail the money order to Deutsche Bank Germany for deposit into your account. You could also buy a prepaid debit card (like a Visa/AMEX giftcard) with your cash. Then, open a new Paypal account and add this prepaid card. Finally, send money to yourself using the prepaid card as the funding source. You could ...


Only top voted, non community-wiki answers of a minimum length are eligible