No one likes checks anymore. They’re the least popular kid at the party, the one people keep having to invite but no one likes. They’re antiquated, inefficient, and don’t earn points. Why would anyone like them?
That’s where William Paid comes in handy, when you need to pay that monthly bill everyone hates- rent. William Paid makes it easy to sign up. The first step is doing just that. You do not need any sort of ‘approval’ before signing up, and William Paid claims to work with any landlord. Another nice thing that you could use is when it comes to split rent with roommates, which was always a pain under the “one check” system my former landlord employed.
Several Payment Options
There are several ways to pay your rent through William Paid. The first is the simplest- your bank account. The company electronically debits your bank accounts and pays your rent automatically. The cost to you is absolutely free.
The second option is using a credit or debit card (which could earn you points!). The fee for using this option is a little steep, though, at 2.95% of the total payment. That could be $29.50 for every $1000 of rent you pay, washing away any value most points can get you.
An extremely convenient option for those that do not have checks or credit cards, cash is also a way to pay your rent with William Paid. There are apparently 45,000 drop off locations nationwide, and all you pay is a $10 flat fee (great for large rent payments). Finally, an interesting option for those that can’t make rent each month, you can do a combination of any of the above options, for a 2.95% rate fee.
Another benefit of this service is that you can help build your credit by having William Paid report your positive payment history to Experian. All you have to do is opt-in to have your payments reported to Experian RentBureau. You provide them with a copy of your lease and some other information, they confirm with your landlord, and voila! Make this one step easier by making your payments automatic each month.
No contracts, No worries
The interesting aspect of William Paid is that there is no contract, so you can stop using the system at anytime. All payments are safe, since they are held in an FDIC-insured partner bank.
So, you’re probably worried that your landlord won’t take the payment, right? Don’t be worried. The company cuts your landlord a boring paper check and sends it on its way to wherever you dictate. And, if William Paid accidentally makes your rent late, they’ll reimburse you $50.
William Paid has made 21st century rent payment incredibly easy with its simple fee structure, ease of adoption for landlords, and excellent customer service. Seriously. But, I wouldn’t say that it’s a great option for those that want to pay their rent with their credit cards that can do so with cash or bank account.
The percentage fee that the company tacks onto rents paid by card is certainly a fair sum, but unfortunately is greater than the value that many points or miles you may earn from your cards. There are exceptions, sure, and all depends on how you redeem your points, but is a little disappointing since there still isn’t a solid option out there.
Regardless, if you need another option other than cash or check, William Paid is the company for you. Ever use the service? Let us know how it went in the comments!