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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't like Venmo for many reasons, I only use Zelle.  I guess maybe this could happen on Zelle too but I kind of doubt it.  I think the process is a little more foolproof.[/quote]

Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.

https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html[/quote]

Your link discusses scams.  The OP's issue is not about a scam, it's about user error.  I exclusively use Zelle because it's a direct bank to bank transfer.  Zelle will refund your money if you catch the error soon after it was made.  [/quote]

Zelle is a pita, imo.

We have a renter who insists on using Zelle.  We get $4,200 in 6 payments of $700 each over the space of 5 or 6 days because his bank limits his transaction amount to $700 per day despite the fact that he's been a renter for 5 years and payed via Zell for at least 4 or 5.  I am sooooooooo over Zelle.  Every month there is some sort of problem, too, that we have to clarify with the banks.  Nope.

Hate Zelle.[/quote]

I believe it's his bank, not zelle, that places the daily limit.  My tenants paid > $2100 and it went through fine each month.[/quote]

Good to know and what I've suspected; however, after 5 years they need to let the transaction through.  I wish he would just pay through Venmo.  It would make my life so much easier!!![/quote]

Gosh, how landlords suffer. Tragic.

Is your tenant a bad tenant? Is the total payment late because it arrives in subsets? If there were a problem with Venmo -- if your tenant paid the wrong person by accident and Venmo wouldn't refund -- would you write off that month's rent?

The system of checks to make sure the right amount of money is going to the right account slows things down. Speed is risky.

I have siblings who won't use PayPal, and none of them will use Venmo. I understand why certain technologies make things easier. But I also understand that not everyone has the same risk tolerance. [/quote]

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