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Updated almost 5 years ago on . Most recent reply

Julia Amelyan's profile image
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Julia Amelyan
  • Real Estate Agent
  • from Thiensville, Wisconsin
  • Member since Aug 12, 2015
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Julia Amelyan's profile image
Julia Amelyan's profile image
Julia Amelyan
  • Real Estate Agent
  • from Thiensville, Wisconsin
  • Member since Aug 12, 2015
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Julia Amelyan
  • Real Estate Agent
  • Thiensville, WI
3
Votes |
37
Posts
General Landlording & Rental Properties

Tenants depositing rent into your account

Julia Amelyan
  • Real Estate Agent
  • Thiensville, WI
Posted

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

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Eddie T.'s profile image
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Eddie T.
  • Rental Property Investor
  • from New York
  • Member since Dec 24, 2013
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Eddie T.'s profile image
Eddie T.
  • Rental Property Investor
  • from New York
  • Member since Dec 24, 2013
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Eddie T.
  • Rental Property Investor
  • New York
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844
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Eddie T.
  • Rental Property Investor
  • New York
Replied

@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.

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