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Updated over 10 years ago,

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Curt Smith
Pro Member
#4 Innovative Strategies Contributor
  • Rental Property Investor
  • Clarkston, GA
1,918
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2,040
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SD_IRA custodian that allows check scanning for deposit? Had it with Equity Trust

Curt Smith
Pro Member
#4 Innovative Strategies Contributor
  • Rental Property Investor
  • Clarkston, GA
Posted

Let me lead with: we have had it with Equity Trust!! We've got about 12 rentals in our IRA and do 4-6 buys per year and of course deposit all those expenses and rent checks every month.

We will move to a different custodian as soon as we find a custodian that can close a purchase efficiently and fast and allows us to use their website to scan rent checks like most banks these days.

We've had deposit errors on the July rent deposits and we are now realizing that we need to scan the rent checks, scan the deposit slips etc etc creating a mountain of work each month to back up the what if scenario of the original check gets lost in the mail or they don't key the deposit correctly on their side as has happened this month.

Our #1 need of a new custodian is:

- scan checks to deposit via their website.  NOT scan the check and attach to an email.  That's work.  Their website must have a plug in that directly connects to the scanner and I don't have to fool with scan to file, attach to email etc.  You pick the wrong file etc etc and no savings over a 100% paper process.

Other needs are:

- A website that is moving to paperless transactions.

- Closing a purchase is smooth.  Equity trust has hired a new batch of low functioning closing folks and they don't know what can be done and worse they get stubborn re what was just accomplished last month.  

  • Curt Smith
  • [email protected]
  • 678-948-7151
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