Online payment systems?

Started by MikeG13 • 3 replies • 790 views

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MikeG13 (South Carolina)
Posts: 2

Posted:

Hi. Our HOA currently only takes dues payment by check, and lots of folks are wanting us to make it accessible online. Wondering if anyone had any best practices for the best service to use for this. I was thinking PayPal would be the simplest and most direct, but wasn't sure if there were other more HOA-centric type places that would work. Thanks in advance.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Mike

Banks offer lock box systems where one can make their payment in several forms and the bank forwards the payments to the association. One major player is BB&T. There is a charge for this service. Contact them.

TimB4 (Tennessee)
Posts: 21,061

Posted:

Mike,

Like you, we are set up to only take checks.
I have looked into accepting credit cards, etc. and, depending on the size of the Association, it can be very expensive.

I'm in a 130 lot association and we decided against it.

We do encourage members to utilize their financial institutions bill pay service (where the bank drafts a check on the members account and mails the check to the Association). Many have used this service.

MelissaP1 (Alabama)
Posts: 13,836

Posted:

Our HOA the bank we used allowed auto-pay for free as long as you had an account with them. A few members would open up an account there and put in 1 years dues into that account. It would then be automatically withdrawn each month. They felt it made sure they were never late with a payment. Otherwise, it was check only. Never cash.

Former HOA President

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