We have kicked this idea around for awhile, but always put it off. recently we decided to look into it seriously, and it seems the fees for merchant services to do this are enormous! Have any of you found a good solution which you might share? I can handle the web page work, what I need is the accepting cards part.
Thanks in advance for nay help steering me in the right direction.
NO....a local C21 firm that does property management had $65,000 taken and deposited into the Bank of China and their escrow account bank said BECAUSE THEY HAD ALLOWED ACCESS TO THEIR ACCOUNT - for direct payment or ACH, there was NO RED FLAG to their system.
I have over 90 properties and tenants can pay me by CHECK to my post office box or have their bank send me a payment and I REMOTE scan them into my bank account...
I MAIL owner checks to their bank's bank-by-mail facility with their account #s...a LOT easier to stop payment on a check lost in the mail than recover $65,000 from the Bank of China
Wow! That puts a new light on it! Thanks, Wallace, for the info, and Mark for the comment. I HOPE that is a very rare occurance, but we certainly couldn't afford to have our account wiped out, so IF we do this we will link it to a separate account and sweep it regularly so we can't lose too much.
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