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Payment Method Comparison

RedWeek.com members have many forms of payment to choose from when renting or purchasing a timeshare. Before handing over money, first ask yourself the following questions:

1. Is the payment traceable / is there proof of payment?
2. Is the payment method fast and convenient?
3. How secure is the payment?
4. What is the liability coverage in case something goes wrong?

We have listed below the various forms of payment available, as well as some pros and cons of each. Please read through these, and contact the owner directly to work out a payment method that is acceptable to both parties. You can do this through the Details & Contact section of any posting page.

Jump to:

• Vacation Rental Escrow Service
• Resale Escrow Service
• Credit Card
• Debit, Check & ATM Cards
• Western Union & MoneyGram Wire Transfer
• PayPal
• Personal Checks
• Cashiers Checks
• Certified Checks
• Money Orders

Payment Type	Pros / Cons
Vacation Rental Escrow Service A secure and convenient third-party handling service for those wishing to make a rental transaction, custom-designed for RedWeek.com members. Get more information.	Minimizes security concerns associated with private Internet transactions Payment is held by the escrow service until 10 days after the end of the stay is completed. This delay allows the renter to contest the disbursement of funds due to lack of availability of the agreed upon rental. Acts as intermediary in cases of fraud Charges a fee for services Owner does not receive money immediately First American title holds the rental fees in escrow until 10 days after the stay is completed.
Resale Escrow Service A secure and convenient third-party handling service for those participating in a timeshare resale transaction, custom-designed for RedWeek.com members. Get more information.	Minimizes security concerns associated with private Internet transactions Acts as broker in sale transaction Acts as intermediary in cases of fraud Charges a fee for services
Credit Card Plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit.	Immediate and convenient Traceable Limited liability coverage Some banks offer online fraud protection. Be sure to check with your bank regarding the type of fraud protection you have. Listed below are links to some popular credit card protection policies: Visa's Zero Liability MasterCard Zero Liability Discover Network 100% Fraud Protection American Express: Ironclad Protection Credit card number is not secure if shared via e-mail or a non-secure owner Web site. Here's how to tell. Not as pervasive in other countries
Debit, Check & ATM Cards A bankcard used to make an electronic withdrawal from funds on deposit in a bank, as in purchasing goods or obtaining cash advances.	Like checks, a debit card exposes your bank account to thieves, and your checking account could be wiped out in minutes Debit and ATM cards are not protected by federal law to the extent that credit cards are.
Western Union & MoneyGram Wire Transfer Electronic transfer of funds to anywhere in the world.	This form of payment is often used by scammers and money launderers and therefore discouraged on RedWeek.com.
PayPal™ An account-based system that lets anyone with an e-mail address send and receive online payments using their credit card or bank account.	Allows members to use credit cards for rental/sale transactions Allows members to make payment via money transfer directly from their bank account Your credit card or bank account numbers are not shared directly with the party you are paying. Payment is traceable, immediate, and convenient Does not provide liability coverage on travel/intangible products such as timeshares. For more information, please read the User Agreement of PayPal Service
Personal Checks A check drawn against funds deposited in your personal checking account.	Provides proof of payment Payment is traceable to a particular mailing address Most banks offer a stop payment service if problems arise before the check is cashed Owners must wait for funds to clear / may bounce Can be forged Difficult to recover funds in cases of fraud
Cashiers Checks A check issued by a bank on its own account for the amount paid to the bank by the purchaser.	Provides proof of payment Guarantees that funds for payment are available— check cannot bounce Can be forged Banks generally charge a fee for a cashiers check No stop payment service available if problems arise before the check is cashed Difficult to recover funds in cases of fraud
Certified Checks A personal check, drawn by an individual, which is certified (guaranteed) to be good.	Provides proof of payment Guarantees that funds for payment are available— check cannot bounce Can be forged Banks generally charge a fee for a certified check No stop payment service available if problems arise before the check is cashed Difficult to recover funds in cases of fraud
Money Orders An order for the payment of a specified amount of money, usually issued and payable at a bank or post office.	Provides proof of payment Is equivalent to paying with cash Can be used to make payments abroad Can be purchased at post offices, grocery stores, and convenience stores Some issuers limit face value to a specified figure (i.e. U.S. Postal money orders only available up to $1,000 each. International money order maximum is $700) Can be forged May be rendered worthless if damaged in mail Some establishments charge a fee for money orders Difficult to recover funds in cases of fraud

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