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55 votes

In the US, is it normal to not include an electronic way to pay rent?

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 ...
Hart CO's user avatar
  • 70.5k
54 votes

Do institutions have right to ask for your credit card security code and all other CC data?

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 ...
Ben Voigt's user avatar
  • 6,788
45 votes

Is online payment with credit card equal to giving merchant whole wallet to take the money we agreed upon?

Yes, technically they can. Nobody is stopping me as a software engineer from showing you a different price to what I'll eventually command the payment processor to take from your bank account. You are ...
nicholaswmin's user avatar
39 votes

In the US, is it normal to not include an electronic way to pay rent?

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 ...
RonJohn's user avatar
  • 50.7k
37 votes

Do institutions have right to ask for your credit card security code and all other CC data?

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 ...
Harper - Reinstate Monica's user avatar
36 votes
Accepted

Friend accidentally Venmo'd me rent as a commercial Venmo transaction. What are the tax implications of this?

If you reversed the transaction then it would probably not generate the 1099. Even if it does, you'll need to report it on your 1040 as misc income and then back out again as reimbursement as it is, ...
littleadv's user avatar
  • 176k
34 votes

Is online payment with credit card equal to giving merchant whole wallet to take the money we agreed upon?

Is online payment with credit card equal to giving merchant whole wallet to take the money we agreen upon? No, it is not. To clarify: you're not giving access to cash (=wallet), you're not even ...
littleadv's user avatar
  • 176k
27 votes

In the US, is it normal to not include an electronic way to pay rent?

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....
Daniel R. Collins's user avatar
27 votes

Do institutions have right to ask for your credit card security code and all other CC data?

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 ...
Ben Miller's user avatar
  • 116k
19 votes

Checking system vs. SEPA and the like

Not everyone has a bank account. Sometimes that is because of distrust of the banking system. Sometimes that is because they don't have the documents to open a bank account. Sometimes that is ...
Justin Cave's user avatar
  • 27.3k
19 votes
Accepted

Checking system vs. SEPA and the like

Am I missing some downsides of the modern systems and maybe disregarding some major advantages that regular checks have? No. Wouldn't the customers and banks benefit from abolishing the antiquated ...
littleadv's user avatar
  • 176k
12 votes
Accepted

The equivalent of the standing order in the internet age for the UK specifically

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.
GS - Apologise to Monica's user avatar
11 votes

Is online payment with credit card equal to giving merchant whole wallet to take the money we agreed upon?

I upvoted @littleadv, but let me add a few thoughts: When you make a credit card purchase, you give your card number and you also agree to the amount of the transaction. I don't know the detailed ...
Jay's user avatar
  • 22.8k
11 votes

In the US, is it normal to not include an electronic way to pay rent?

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 ...
B. Goddard's user avatar
8 votes

Do institutions have right to ask for your credit card security code and all other CC data?

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'...
James's user avatar
  • 364
8 votes

Checking system vs. SEPA and the like

The other answers aren't exactly wrong, but the real problem is that there are 4800 banks in the US. Not 4800 branches, 4800 separate banks, with a very long tail of small local banks that are ...
John Levine's user avatar
7 votes

In the US, is it normal to not include an electronic way to pay rent?

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 ...
Jay's user avatar
  • 22.8k
7 votes
Accepted

Why are shop receipts required

Receipts are required for tracking and documentation. You give someone something - you get a receipt back to acknowledge it. It is useful in a wide variety of applications: Proof of ownership/...
littleadv's user avatar
  • 176k
6 votes

Do institutions have right to ask for your credit card security code and all other CC data?

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 ...
le3th4x0rbot's user avatar
5 votes

In the US, is it normal to not include an electronic way to pay rent?

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 ...
mweiss's user avatar
  • 245
5 votes

What is the safest method of receiving payment for expensive items being sold on Gumtree?

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" ...
Martin Bonner supports Monica's user avatar
4 votes
Accepted

What is the safest method of receiving payment for expensive items being sold on Gumtree?

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 ...
GS - Apologise to Monica's user avatar
4 votes

In the US, is it normal to not include an electronic way to pay rent?

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 ...
jmoreno's user avatar
  • 1,355
4 votes

Is online payment with credit card equal to giving merchant whole wallet to take the money we agreed upon?

As nicholaswmin mentions in his answer there are no 'technical' software protections against this, instead the protections are largely legal: Unlike for a physical wallet: your bank and the merchant'...
Jack's user avatar
  • 206
3 votes

In the US, is it normal to not include an electronic way to pay rent?

Yes, paper checks are quite typical. That's how I paid rent from 2012 till the end of 2017 and then I bought a house. If the landlord is worried about Covid on checks then they're presumably worried ...
MonkeyZeus's user avatar
  • 8,473
3 votes

Interaction-less payments, how do they work?

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 ...
GyRo's user avatar
  • 185
3 votes
Accepted

Cheap payment processing options apart from credit card

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 ...
user71659's user avatar
  • 3,644
3 votes

Is online payment with credit card equal to giving merchant whole wallet to take the money we agreed upon?

You're allowing the merchant to send an invoice While the merchant can technically charge an arbitrary amount, they have no unilateral ability to receive that amount, and this is a key difference from ...
Peteris's user avatar
  • 3,353
2 votes

What type of payment processing withdraws money from bank account whether the account has the funds or not?

This isn't a type of payment per se, but rather something up to the bank/etc. behind the account. Credit cards can permit small purchases over their limit, banks can permit overdrafts with ACH or ...
Joe's user avatar
  • 35.8k
2 votes
Accepted

Is there a threshold at which estimated taxes must be paid electronically?

No, it is encouraged, but not required. From the 1040-ES instructions: The IRS cannot accept a check for $100,000,000 or more. If you need to pay more than that amount by check, you must use more ...
prl's user avatar
  • 2,818

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