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How would a family member make automatic payments to me?
I loaned money to a family member across the state, and we would like to set up an automatic payment schedule. She gets paid weekly, so it would be easiest for her to do a weekly payment of $35 until the balance is paid off. (This was agreed upon until other high-interest debt is paid off first)
Paypal does free transfers to family members, but there is no recurring payment option.
I'm looking for solutions, and creative solutions are encouraged! Thanks.
5 Answers
- Trivial OneLv 76 years ago
Besides automatic bill pay from a checking account she could use an internet-based money transfer system. Many banks have them as a free service (they are often called things like Quick Pay or Easy Pay). You don't necessarily have to be a customer of the bank that offers it to use it, but you do have to register. She would set up the payment, which triggers an email to you. You follow the prompts to accept the money. The system deducts it from her account and deposits it into yours. The nice thing about these systems is that you don't have to share any personal information or account numbers, or even your bank name, with the other person.
- Anonymous6 years ago
Most checking accounts have automatic bill pay ability. She needs to talk to her bank.
- ?Lv 76 years ago
no good way to do that--- if she had an online payment system at her bank she could set that up to pay you
- 6 years ago
You can do this as a subscription on PayPal. You should set up a subscription button, and then she can purchase. Hope this helps.
- Anonymous6 years ago
How about just writing you a check once a month?