Payment Method Comparison

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

  • Is the payment traceable / is there proof of payment?
  • Is the payment method fast and convenient?
  • How secure is the payment?
  • 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.

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RedWeek Booking Protection (online booking)

If a posting is marked with "Booking Protection" it means the owner has signed up for our online booking system. It's custom-designed by RedWeek for protecting both parties on select rental transactions. Get more information.

Pros

  • RedWeek verifies key details of the reservation, including ensuring the guest name has been changed before the booking is finalized.
  • Rental payment is disbursed to the owner after check-in, allowing time for the renter to file a dispute if the unit received was materially different than stated in the contract.
  • RedWeek helps resolve any disputes to ensure an efficient and fair resolution.

Cons

  • Only available on select bookings; Owner has to opt-in to this program, based on eligibility.
  • Owner doesn't receive funds immediately.

Credit Card

Plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit.

Pros

Cons

  • 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.

Cons

  • 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.

Cons

  • 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.

Pros

  • 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.

Cons

Venmo

Facilitates the transfer of online payments using a credit card or bank account. Designed for sending money to people you know, not general online transactions.

Pros

  • 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.

Cons

  • Provides no buyer protections - not recommended for this type of online transaction.

Personal Checks

A check drawn against funds deposited in your personal checking account.

Pros

  • 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.

Cons

  • 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.

Pros

  • Provides proof of payment.
  • Guarantees that funds for payment are available— check cannot bounce.

Cons

  • 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.

Pros

  • Provides proof of payment.
  • Guarantees that funds for payment are available— check cannot bounce.

Cons

  • 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.

Money Orders

An order for the payment of a specified amount of money, usually issued and payable at a bank or post office.

Pros

  • 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.

Cons

  • 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.