Posted by Houserookie on February 28, 2001 at 10:54:14:
I have not used it this way. But my mail box etc. people are beginning to collect money this way.
I think it works great. Paypal can work for virtually any business.
Pay online - Posted by Mike
Posted by Mike on February 28, 2001 at 02:22:29:
Anyone had any success with pay-on-line like ‘moneyzap’ from western union or ‘Paypal’ etc… trying a new frontier, I think…:>)
thank for all your input
cheers
Re: Pay online - Posted by Houserookie
Posted by Houserookie on February 28, 2001 at 06:32:01:
I use paypal to make payments on ebay.com and
send press releases on usanews.net.
It has worked quite well.
What is it that you are trying to do?
Re: press release - Posted by John STL
Posted by John STL on February 28, 2001 at 10:10:32:
Just wondering what you use the press releases for? Is it to promote the home buying business.
Re: Pay online - Posted by Mike
Posted by Mike on February 28, 2001 at 07:53:24:
I was gonna try an implement it to have tenant or tenant buyers pay their monthly obligations
Have you seen it being used that way yet?
Re: press release - Posted by Houserookie
Posted by Houserookie on February 28, 2001 at 10:56:47:
With usanews.net they can send out releases to over 15,000 media outlets. I use them to broadcast clients websites, announcements, and specials.
I have not used it for real estate, but sounds like a great idea.
Re: Pay online - Posted by Merle E Woolley
Posted by Merle E Woolley on February 28, 2001 at 15:22:42:
We set up a separat bank account, called a sweep account or a zero balance account. At the end of each business day, the bank automatically transfers all funds from this account to our regular account.
Our buyers make the payments at any of the bank’s locations. We provide them with deposit slips for that account. We preprint their payment amount and address on the slip. We can look at our account via computer at any time to see the activity.
Since the computer does not list the name of the depositor or their address, we “code” each payment. All payments end in a specific number of cents. No two payments end in the same number of cents. For example, we have only buyer whose payment ends in 34 cents. When we see a deposit ending in 34 cents, we know that buyer made their payment.
Of course, this limits you to 99 properties. Still works for us as we have some buyers who use an automatic bank draft (which we also set up with bank). Either of these eliminates potential problems witht he mail. Not to mention the added credibility you get … seems to sound good that they can pay at the bank or you can withdraw from their account … just like their insurance company does.
Merle