Holy crap, I need opinions on this one stat

[SunnyD]

Long story short - I'm renting a house, and the landlord wanted to set up automatic draft from my bank account. Mind you, I'm rather leary of that concept anyway, but figured financial institutions would have some safeguards against malicious transactions.

Well, after dicking around, the landlord supposedly got everything set up, and was waiting for some transaction information from me to verify the account is correctly set up. Today, what do I see but two "ACH Paypal Bankverify" transactions. I'm thinking to myself "paycrap? seriously?" This is supposedly a property management/investment company no less.

Would you consider linking your primary checking account up to someone's paycrap account that you had absolutely no control over?

 

[KLin]

Umm hell no. Sounds like he's wanting to hide income from the IRS.

 

[SSSnail]

I thought surprised buttseks... nothing to see here folks.

 

[randomlinh]

No. It's why I created a free checking account at my local bank to tie to my paypal.

I'd just tell em you're not comfortable with paypal. Or if they really wanted to.. let you paypal them. But do it from a credit card backing... one w/ rewards.

 

[SunnyD]

Originally posted by: SSSnail
I thought surprised buttseks... nothing to see here folks.

After I posted, I thought to myself "hmm, people will be thinking..." 😱

 

[SarcasticDwarf]

Um, HELL NO.

 

[Queasy]

AHAHAHAHAHAHAHAHAHA

You had to ask

 

[JulesMaximus]

Originally posted by: KLin
Umm hell no. Sounds like he's wanting to hide income from the IRS.

How the hell is that hiding income? 😕 Do you send a 1099 to your landlord at the end of each year?

 

[idiotekniQues]

mmmmmmmmmmmmm butsex a la paypal

 

[SunnyD]

Originally posted by: Queasy
AHAHAHAHAHAHAHAHAHA

You had to ask

Actually, I did call and leave a message for the landlord to call me to discuss the situation (as as soon as I saw the ACH credits I said "O hells no!"). I figured you might be amused in the meantime. Me 'n paycrap go waaaaaay back.

 

[EagleKeeper]

Originally posted by: JulesMaximus

Originally posted by: KLin
Umm hell no. Sounds like he's wanting to hide income from the IRS.

How the hell is that hiding income? 😕 Do you send a 1099 to your landlord at the end of each year?

If the IRS comes looking at the landlord, the less money paperwork trail, the easier it is to underdeclare income.

Funds can go into a non-business account that ends up for personal use.

 

[EagleKeeper]

Originally posted by: JulesMaximus

Originally posted by: KLin
Umm hell no. Sounds like he's wanting to hide income from the IRS.

How the hell is that hiding income? 😕 Do you send a 1099 to your landlord at the end of each year?

If the IRS comes looking at the landlord, the less money paperwork trail, the easier it is to underdeclare income.

Funds can go into a non-business account that ends up for personal use.

 

[CPA]

bad move, only because when you terminate the lease, they still have your bank account info and can hit you with their BS fees. Always pay rent with checks.

 

[conehead433]

Originally posted by: CPA
bad move, only because when you terminate the lease, they still have your bank account info and can hit you with their BS fees. Always pay rent with checks.

The absolute truth. You should have never agreed.

 

[PowerEngineer]

The problem with automatic drafts from a checking account is that you (the account owner) can't terminate them. As unbelievable as it might seem, you have to ask the party withdrawing the money to terminate their withdrawals. I found this out years ago when I tried to stop making monthly health club membership payments. I ended up closing all my bank accounts at that bank.

My advice, therefore, is to set up a second checking account into which you put just enough money every month to cover the automatic drafts. That keeps your primary checking account balance safe, and allows you to stop payments by closing the second account.

Or better yey, don't do it at all.

 

[Sphexi]

Technically, Paypal is more than just sending payments from person to person, they have other services as well.

That being said I wouldn't trust em either. The company I work for does EFT/ACH processing for a lot of companies, including some very high-end property management companies, gyms, and lots of other organizations. If it's done right then it should state in your account that it's from the company/person you're dealing with, NOT the company that's processing it.

 

[txrandom]

Can't he get that information from your check?

 

[Queasy]

Originally posted by: txrandom
Can't he get that information from your check?

Yes but he wouldn't have authorization to do an ACH draft straight from his account. OP has to give his approval.

I don't even let my Mortgage company do ACH drafts. No way in hell would I let some dude renting a house out access to my check account.

 

[Tiamat]

I would not agree to those terms. That seems all sorts of shady.

 

[thomsbrain]

No fucking way I would agree to that. I wouldn't even allow that if I was renting from family.

 

[imported_Imp]

Originally posted by: SunnyD

Well, after dicking around

I thought this was how it was going to be 'different'. Perv-out.

 

[oogabooga]

Originally posted by: thomsbrain
No fucking way I would agree to that. I wouldn't even allow that if I was renting from family.

Seriously : I don't even trust my own paypal account let alone would let someone else have my info in their paypal account.

 

[randay]

wow, can you come over here for a second? i need you to stand here, drop your trousers and bend over, i need to test something.

 

[KingGheedora]

If you've already done it you should close your account, start another one, and tell the land lord that you will pay by check. If he's worried about paying on time you can set up auto-bill pay (BofA does this for free, your bank might too). They will send out checks to pay monthly bills and make sure they are received by whatever day of the month you set.