Tenants depositing rent into your account

[Julia Amelyan]

How does it work to have tenants deposit directly into your bank account? There is a new law that they have to show ID and SSN? Most of our tenants are Hispanic and do not have ID or SSN. Is there a way to get around that? 

TIA 

Julia

[Eddie T.]

@Jon Holdman @Ronan M. the issue with chase that Jon mentioned they stopped allowing cash deposits only applies to personal accounts not business accounts.

I had a tenant deposit cash today into my chase business account no problem at all.

Btw I believe this is now the rule for all banks related to personal accounts.