Cozy vs Well's Fargo Depost only ATM Card

General Landlording & Rental Properties
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Cozy vs Well's Fargo Depost only ATM Card

John Patton
Investor · Birmingham, AL · Member since 2016 · 315 posts · 206 votes

I am strongly considering the use of Cozy or Well's Fargo's deposit only ATM card for new tenants the next weeks . Any thoughts on either one. Thanks JP

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  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    8y

    @John Patton I have used Cozy for a couple years and like the service. I can see when tenants schedule rent and I can add late payments on to their account.

    I also have one tenant that deposits directly into my bank account which works well too.

    The advantage of Cozy is they never need to leave their house so it is very easy. It sends scheduled reminders of rent being due. Advantage of a bank is they can pay with cash. 

    Both are good options over checks in the mail.

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  • Lucas Hall
    Rental Property Investor · Arvada, CO · Member since 2011 · 146 posts · 103 votes
    8y

    Why not offer both to your next tenant and see which they prefer?

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  • John Patton
    OP
    Investor · Birmingham, AL · Member since 2016 · 315 posts · 206 votes
    8y

    Thanks Lucas, I may do that, JP

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