Question by Joe F: My girlfriend owes me a monthly payment for rent. How do we settle up electronically?
My girlfriend moved in with me, and will be paying me a small monthly rent, plus splitting utilities. I hate cashing checks, and I hate wire transfer fees and paypal fees. What is the best way for her to pay me?
Best answer:
Answer by David
You could do an ACH bank transfer, but besides that, there aren’t a whole lot of electronic options that don’t charge a fee. What’s so bad about cashing a check anyways?
Add your own answer in the comments!
Unfortunately you’re pretty stuck with checks. Most reputable banks won’t charge you a fee as long as you’re depositing it or have a decent account. This way there is a fool-proof record if anything goes wrong. Also, though it may be awkward to bring up, make sure you guys have something in writing (you never know and always better safe than sorry).
If you use cash, make sure your agreement says that you will give a signed receipt at the time you get the cash and also make sure to include that all parties agree that if no receipt is producible later on by payee, then that means that the payment was never received and is still owed.
Good luck! (Remember: always keep records and things in writing)