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Updated about 7 years ago on . Most recent reply

User Stats

197
Posts
95
Votes
Mike R.
  • Investor
  • PO, WA
95
Votes |
197
Posts

banks not taking cash rent deposits--now what

Mike R.
  • Investor
  • PO, WA
Posted

Hi all and thank you for your time!

We just found out that several of the large banks (Chase, Wellsfargo, etc) have or are about to implement new policies that basically say they will no longer take cash for deposit into 3rd party accounts.  

we do not take checks for rent and have had tenants deposit rent directly into our accounts either via wire or cash deposit in a local branch of our bank.  Cash is now off the table so we are looking for alternatives.  Any ideas?

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