Massachusetts Banks for Security Deposit / Last Month's Rent

[Dan Borecki]

Hi All,

I am a first-time landlord in Massachusetts and just received a security deposit and last month of rent from my 2 new tenants. I am familiar with the rules surrounding the deposits, but do any of you have any banks that you would recommend for me to use?

Thank you,

Dan

[Colleen F.]

Also if you opened your account in another state make sure the new account is a Massachusetts one. I have a Bank of America account which is still a NJ account(opened several mergers ago with a different bank), I had issues linking it to some MA accounts unless I change the main account to a MA account. Normally not an issue but good to know if you started out in another state. Santander also merged so the NJ to MA link was a problem there too. If this applies to you ask when opening the account otherwise just extra info. I closed Santander and a year later they still send alerts from my account , doesn't instill confidence.