As the people who I plow and mow, etc. for in the neighborhood are running out of paper checks, several have decided to not order more checks and have asked me about accepting payments via such "apps" as Venmo, Google Pay, etc. Also, I should mention that not only is this an issue for me personally, but as the treasurer of our HOA, I have also had the issue come up for those who want to pay their dues via these apps.
We have always just gotten checks from each resident but the times, they are a changing, and now some don't have checks. Simplicity, low fees are paramount in both situations, my personal and for the HOA. The HOA is either one or two payments a year where the personal ones would be monthly or more often.
I don't have any Apple products so Apple Pay is out.
I read about the different Pay person to person Apps and there is good and bad. Frankly, I would just prefer good old fashioned Benjamins but that requires making a personal visit to receive the money, although one did leave $1,100 in cash in my mailbox in an envelope.......and sent me a text telling me they had done so, which was ironic as I was home at the time and they didn't come to the door...... (too lazy to get out of the car, I think)
When I read about these different "Apps" I read positive and negatives. Personally, I do very little paying with anything but either checks or cash. We haven't had a credit card in at least 15 years. Simply don't use them or like them.
I do have a PayPal Account, but when I mentioned that to one who wants me to sign up with Venmo, she claimed that Paypal charges fees to send money to another paypal account. I told those who have asked to pay via an App I would pick one or two at the most and if there are any fees or costs to use the payment process, they would incur the fees for their convenience.
Frankly, looking at the options gives me a headache and I have 20 million other things to be doing so I thought I would ask my GTT family for their suggestions. Just to give you a range of the amounts which would be paid, it's typically between $300 to $1,200, depending upon what's been done in that billing cycle.
One neighbor, who I have plowed his driveway for at least 10 years, he has something set up with his bank and he enters the payment on line and his bank sends me a paper check. Takes 3 to 4 days from when he inputs it. I mentioned this to others as an option but apparently, its not "high tech enough" for some as they love using their "Peer to Peer Apps".
I know that recently someone (I think it was Little Green Machine) commented about how he dislikes cash and hates change and doesn't like bothering with it. That's how I feel about the APPs and electronic payment methods to some degree.
Here are my questions and concerns about the use of the APPS;
1. Want it to be secure and safe and I read a lot of security issues with Venmo and some others. In fact, I think Venmo will only allow you to keep a limited balance in your account as that is all they will cover in the event of a loss (seems like it was $1,900)
2. I don't want to pay any fees or if there are, the person paying with the source will incur the fees.
3. What do I do with the money once its in the APP? I see many charge to transfer to your bank account under various situations and in different time frames.
4. If I am going to accept payment with one of these, I want one which is useful to me to make purchases with the money which goes into the personal account so It needs to be something accepted by regular merchants (grocery store, hardware, gas station, etc). The app for the HOA would end up with the money going into the bank account at some point.
Any suggestions and opinions would be appreciated. The simpler, the better.............Thanks for the replies.