Cohousing-L Mailing List: Re: Online platform and electronic payments

[Mariana Almeida (missmgrrl]

My colleague worked on Zelle, which is built in service that many banks have 
started to offer. In fact, if you have an  account with a major bank you 
probably already have it. It's free.
Cash Faces a New Challenger in Zelle, a Mobile Banking Service


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Cash Faces a New Challenger in Zelle, a Mobile Banking Service

Stacy Cowley

Taking on rivals like Venmo and Apple Pay, more than 30 major banks have 
created a network that allows users to ...
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Mariana 

    On Thursday, April 26, 2018, 2:58:34 AM PDT, Crystal Farmer 
<crystalbyrdfarmer [at] gmail.com> wrote:  
 
 Hi Jim,

I would not recommend using a personal PayPal account to collect payments.
They charge a fee for transferring money and withdrawing it to a bank
account. If people are making small payments it will eat away at your
budget.

There are apps like Cash and Venmo that are electronic but will take fees
out too. I think if you want an electronic system you need a Paypal
business account, which you can get if you have an EIN for the cohousing
group. Less fees and the money transfers faster. The other option is to
check with your bank. Most of the big ones have a money transfer system
that may be included with your business checking account.

Crystal Farmer
Charlotte Cohousing
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