Cozy - How to Change what will Appear on your Bank Statement?

Question

Hi all,

I've searched around and have not been able to find an answer to my question posted in the description. I can go on Cozy.co's website and see the successful Payments along with what is posted to my Bank Statement. Instead of the Tenants Last Name and a Random Character String, is there a way I can have it refer to something else instead? Maybe a portion of the property address and the tenants last name. See example below -

Payer: John Smith

Address: 123 Apple Street, City, State

Bank Statement: 'Smith' 'STYZHSDFIHJSJI'

I would prefer the Bank Statement to read: '123 Smith'

If there isn't an easy way to do it, has anyone "Cheesed" the system and Changed the Payer's Last name so it appears as below -

First Name: John

Last Name: 910 Smith

Therefore the Bank Statement would Read '910 Smith' 'Random Character String'

Will that work?

Thanks for any guidance!

Lucas Hall · Answer

Hey @Chad Hale!  You are 100% correct. Cozy sends all the information we have to banks and it’s up to them to choose which data they display. Each of the 4000 banks do it a bit differently.

Chad Hale · Answer

It could be related to how Cozy processes payments or how your bank receives them.

This might be helpful for you?  Notes from when I was setting up this stuff with a different company.  One of my banks handled it correctly in their statements and another did not and needed a special request per transaction to see the information.

Please confirm with your bank that they are presenting the ACH Debit CCD Entry Detail Record, typically found on your statements within a Transaction Details type section. The exact field location within the bank’s file is Record 6, “Individual Identification Number”, Position 40-54. If your bank is not currently showing that field, please request that they display this information on your statements.

Record Type Code:

6 – Entry Detail Record :  This record contains the information necessary to post a deposit to/withdrawal from an account, such as recipient’s name, account number, dollar amount of the payment

Alex Olson · Answer

I use cozy as well and have found that they have great support. Email them to set up a call and they can walk you through any options that they have available. I am not sure you can change it but worth a shot to email them.