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Check / Bank Account transfers

How would you make it so one user can send a check to another user (instead of using stripe, PayPal etc… Id still have those options but to be able to let them issue and receive a check from bank account to bank account would help tremendously)

Ideas, suggestions, plugins welcome, thank you!

It is possible for a transaction to debit from one account and add to another, but in reality, this is open to errors and fraud.

You want to look at double ledger accounting. Essentially, The user has an account which has a balance. The Balance manipulated by transactions. All transactions are recorded indefinitely. for every transaction there is a debit from one account and a credit to another account, and the 2 must balance out.

I definitely would not want to be open to fraud or errors.

I’ll do some research and see what I can find on double ledger accounting. Hopefully there is a service that can provide this type of functionality (but that usually come at a cost to one of the parties which is what Im trying to avoid).

I appreciate the response!

Doesn’t Stripe let you make wire transfers? I thought those were essentially bank-to-bank transactions.

@rico.trevisan Is there a fee for the bank-to-bank transfer? Im unfamiliar with it.