Receiving funds from a non-member

[mccarthy147]

I have a renter who wants to send payments directly to my account through their credit union. They are non USAA members, so how do I go about setting this up? The app wants you to be a member and I'm not having success searching the site. Any insight would be most welcome.

Thank you,

Robin

[WEBSITE GURU]

mccarthy147;

Welcome to the USAA Member Community Forum.

Thank-you for your familys service.

Now as for your post and question.

1. It is possible for YOU the Member to SEND MONEY to another person as shown in the POST found here.
   
   
2. As for RECEIVING MONEY you might want to view the comments in the POST found here.
   
   
3. Maybe your friends Credit Union has an "Quick Pay" Option using an e-mail address. USAA has something similar which is described here along with the related FAQ found here.
   
   
4. You could also receive payment via Check and use either Deposit@Mobile or Easy Deposit..
   
   
5. As a LAST RESORT: You might need to use Bank-to-Bank Wire Transfer as described here.

Thank you for participating in the USAA Member Community Forum.

[ScottEmick]

1.  You and you renter could also set up a free paypal account and receive money directly that way from your renter.  It is also possible to create monthly subscriptions in paypal to  have the same amount sent monthly.

2. Have your renter ask the credit union to add your account as receive only.  Give the renter USAA's Routing # which is 314074269 and your account# to give to the credit union. USAA also has this option available online in add accounts, you can add other people's accounts at any US Bank as send only to send them money.  This uses ACH Push which generally takes 1-2 days (usually 1 day in my experience if the payment is sent early enough in the day, before 4pm).

[WEBSITE GURU]

Scott;

Welcome to the USAA Member Community Forum.

Thank-you for your service.

Now as for your post and responses.

1. Great Suggestion about use of PayPal. I had thought the same thing (but didn't post it yet) when I was reviewing my earlier post above.
   
   
2. The USAA information as it relates to PayPal is shown in the Sending Money Is Easy section found here (scroll down) and on the List of 66 Countries where PayPal accounts can receive payments found here.
   
   
3. NOTE: Those interested should read this PayPal Community Help Post for FAQ: Using your bank with PayPal. Also those interested could read this PayPal Help Center Answer to the question Ways To Receive Money.
   
   
4. Great Information about asking the credit union to add your account as receive only. I actually was unaware of this "receive only" Option.

Thank you for participating in the USAA Member Community Forum.

[ScottEmick]

I forgot to mention you'll need to send the PayPal payment as a family / friends. do not send it as payment for merchandise

[WEBSITE GURU]

Scott;

Thanks for adding that!

• When using PayPal to have someone send you money they should use the Personal Options.

• There is NO FEE for SENDING MONEY to Friends and Family as shown here. **(External Link)

Everybody;

Here are some addional PayPal EXTERNAL LINKS:

1. For PayPal Payment Overview and Payment Options click here.
   
   
2. For PayPal Community Forum Help concerning Lost Personal Option Tab click here.

Keeping Members Informed Is What I Do

[scott63070]

I recommend against setting up any kind of connection between your accounts and your tenants.  Even in receive-only mode.  They will know which bank you use and your account number.  The Paypal option sounds intriguing, that might work since it is an intermediary.  I've had too many bad experiences with tenants who will use any info they have to get out of a lease or make eviction difficult.  I never give them any of my personal info unless absolutely necessary.  By allowing the tenant to set-up an automatic payment from their bank to yours, you may be giving them excuse fodder for why payments are late. 

Another issue with the direct deposit method is that as a landlord you should only accept full payment.  Depending on the state, if a tenant pays a portion of the rent and the landlord accepts it, then the landlord cannot issue a 3-day or quit letter to start the eviction process.

I prefer to have the tenant's use their bank's bill pay service and send an actual check.  This adds some of the convenience and automation, while keeping things legal and separate.

Most leases specify the payment method, so make sure to issue a signed lease addendum if you change the payment method.

[Kate Horrell]

Scott, I am usually very much in favor of EFT for rent payments, but you bring up an excellent point about partial payments.  I do not think there is a way to prevent this problem with either EFT or Paypal.  Do you know if any of the payment intermediaries have the capability to designate the amount they will allow?

You've given me something new to think about.

Thanks!

[ScottEmick]

Paypal gives you the option to refuse a payment.  Thus, you are not forced to take a partial payment.  With USAA you cannot refuse, only return the payment.

[ScottEmick]

Well I should clarify, you can refund the payment, not refuse it...That is more accurate.