I would like (or am considering) to switch to the Schwab checking though as my primary checking account for other reasons. However, so far, this Person2Person feature of ING Direct to pay for my rent keeps me there.
I noticed that the Schwab checking account allows to set up transfers to third-party accounts from the Schwab checking account. It also allows to specify reoccuring transfers. I like the email paper trail that ING Direct creates with all this so that I have a record of sorts that the rent was paid and received, but I guess the monthly statement should be sufficient. Also, Schwab says in the fine print that this feature is not meant for bill payment:
Since I am sending it to an individual though, I doubt they would know that this is in essence a bill payment.The Schwab Bank Service is not intended for bill payment and we may refuse to facilitate certain transfer requests.
Does anyone have experience with push ACH rent payments to individual landlords other than with ING Direct? Or experience with the transfer to third party accounts at Schwab? Any feedback or thoughts?