Ask HN: The easiest way to set up an automated recurring payment to a person?

Posted by srabeat on Monday April 03, 2017 @09:33PM
from the ask-hn dept.

What is the easiest way to set up an automated recurring monthly payment to an individual? E.g. I borrowed x amount from a friend of mine and would like to pay him off in n months. Is any of the existing financial services (Paypal, Venmo, etc. ) offering a feature like this?

( 9 comments | 3 points | on HN )

Re:Ask HN: The easiest way to set up an automated recurring ... by twobyfour on Tuesday April 04, 2017 @06:16AM (#14031069)

Pretty sure PayPal does. But like someone else said, so do most banks.

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Re:Ask HN: The easiest way to set up an automated recurring ... by srabeat on Thursday April 06, 2017 @06:32AM (#14049361)

Oddly enough Paypal doesn't! You would expect something like Venmo does it too but I haven't found anything yet

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Re:Ask HN: The easiest way to set up an automated recurring ... by flukus on Monday April 03, 2017 @09:38PM (#14028861)

Your banks website doesn't have this feature?

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Re:Ask HN: The easiest way to set up an automated recurring ... by tedmiston on Tuesday April 04, 2017 @02:30PM (#14035818)

My banks offer a similar feature but each only to other people who use the same bank and it requires getting a sensitive account number or linking. It'd be ideal to be able to schedule a recurring payment or request in Venmo.

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Re:Ask HN: The easiest way to set up an automated recurring ... by srabeat on Monday April 03, 2017 @09:42PM (#14028876)

I am using BoA... and No. Do you know if any banks offer this?

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Re:Ask HN: The easiest way to set up an automated recurring ... by codegeek on Tuesday April 04, 2017 @01:31AM (#14029743)

Have you checked with BoA ? I found their online article and it does say that you can setup recurring payments through online bill pay service.

https://www.bankofamerica.com/onlinebanking/online-bill-pay....

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Re:Ask HN: The easiest way to set up an automated recurring ... by srabeat on Thursday April 06, 2017 @06:36AM (#14049376)

Not relevant to personal transactions...

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Re:Ask HN: The easiest way to set up an automated recurring ... by flukus on Monday April 03, 2017 @09:47PM (#14028902)

I'm in Australia so my recommendations are probably irrelevant. I just find it hard to believe that any bank wouldn't have it, it's a feature I was using 12 years ago.

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Re:Ask HN: The easiest way to set up an automated recurring ... by npratini on Tuesday April 04, 2017 @05:26PM (#14037362)

Charles Schwab allows you to schedule recurring check payments - you just give them the person's name and address, and a check will show up in their mailbox.

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