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Updated about 10 years ago on . Most recent reply

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144
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24
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Kyle M.
  • Wayne, PA
24
Votes |
144
Posts

Setting Up Direct Deposit with new tenant??

Kyle M.
  • Wayne, PA
Posted

I am signing a lease with new tenant tomorrow and have to give him information about the account that he will be depositing in.  I gave my bank a call and they said that it's unknown what information his bank needs from me.

What is standard process in these types of situation?

Some solutions that seem like they would work:

1. Last four of account number only.

2. Account number only.

3. Routing number and last four of account number.

I want to protect myself with giving him some information about my account.  Any help would be appreciated, thanks!

Most Popular Reply

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5,659
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1,832
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Elizabeth Colegrove
  • Hanford, CA
1,832
Votes |
5,659
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Elizabeth Colegrove
  • Hanford, CA
Replied

I give all my tenants the name of my banking institution the accountant and routing number. This is no different than any information you provide in a check!

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