Direct deposit for tenant?

My tenant has asked to do direct deposit.......which sounds great to me, but
my bank says they only offer that service to commercial accounts. Does
anyone know someone who provides this service. I am located in New Albany
IN. 47150.
My tenant does not have a computer.....so that sorta stops the possibility
of paypal or billpay etc. Maybe it is time for a new bank. I only have the
one rental property at the present time. I guess I am not a bigtime
commercial account.
Thanks in advance for any help you can provide.
Lyndell

Re: Direct deposit for tenant?

"Lyndell Thompson" <> wrote
> My tenant has asked to do direct deposit.......which sounds great to me,
but
> my bank says they only offer that service to commercial accounts. Does
> anyone know someone who provides this service. I am located in New Albany
> IN. 47150.
> My tenant does not have a computer.....so that sorta stops the possibility
> of paypal or billpay etc. Maybe it is time for a new bank. I only have the
> one rental property at the present time. I guess I am not a bigtime
> commercial account.
> Thanks in advance for any help you can provide.

Well, I'm not in your area, but I'll offer two comments:
1. The payment can be initiated by the tenant's bank -- not necessarily
yours. Does your bank say that they won't accept an auto payment? If
that's the case then I agree you should switch banks.

2. Many banks -- even small ones -- offer payment service, although for a
fee or minimum balances. Chase offers it free with certain types of
accounts. Ask your tenant if his/her bank will initiate the auto payment.
--


Rick Hess
New Orleans
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Re: Direct deposit for tenant?

> Chase offers it free with certain types of accounts.

Chase will send a check through their automated system if a direct
deposit won't work. Either way, the payor initiates the transaction by
computer in the same way. The only nuisance is setting up the
transaction.

I'm sure all bill-paying systems work the same way; my credit union has
one (which I don't use) which they've been touting ever since they made
it gratis.

Re: Direct deposit for tenant?

"Lyndell Thompson" <> wrote
> My tenant has asked to do direct deposit.......which sounds great to me,
but
> my bank says they only offer that service to commercial accounts. Does
> anyone know someone who provides this service. I am located in New Albany
> IN. 47150.
> My tenant does not have a computer.....so that sorta stops the possibility
> of paypal or billpay etc. Maybe it is time for a new bank. I only have the
> one rental property at the present time. I guess I am not a bigtime
> commercial account.


Here's another option:

clearnow.com

--


Rick Hess
New Orleans
To email, eliminate All_Spammers