I manage an apartment building. Most tenants simply send me a check for the rent money. But the tenant does not want me cash. It has a current account. I ask him to send me a check, like the others. He said he does not. He never gave me a reason. He wanted to transfer or transfer money to my bank account statt.Dies means, therefore, I want his bank account and bank code. Is it safe?
Tags: apartment, Bank, give, Money, number, rent, Routing, safe, tenant
No, it’s not safe. You can’t just give out your bank account number when you’re in doubt. If he doesn’t want to issue check for the payment, he might as well personally hand in the cash or use other sending modes.
Not a safe practice.
Tell him to buy a money order if they do not want to issue a check. It is their responsibility to make sure the rent is paid on time and in full.
No, don’t do it. It’s HIS problem to pay the rent – but you do not have to agree to a wire transfer.
It is totally safe. Look at your checks, the account number and routing number appear on every single one of them.
You need to post a notice amending your lease effective immediately, You will only except money order or check as forms of payment for rents owed. send it out to all of your tenants and remember what ever you do for one tenant you have to do for all or you can be sued for discrimination. Now do you really want every one knowing your account number and bank info?
Routing number is ok to give out since each bank has their own routing number.
However when it comes to account number.. that’s the most unsafe thing to give out.
Tell him that you do not feel safe accepting such a large amount of cash each month, and that he should be giving it to you in a money order or a check form.
If he has worries that his account will bounce or something due to you taking too long to deposit all the checks, he should have online bill pay that most banks have that will send you a check, and automatically deduct the funds from his account.
No I wouldn’t give him your routing number. You can send him to a branch of your bank and have him call you from the bank and you can give a teller your account number so that he can make a deposit. I work for a property management company and we have tenants who live in other towns that do this often. We can check online to see if the deposit has been made. The next day a copy of the deposit slip will be available, also via online.
It is not unsafe. That only authorizes him to put money in. He cannot get any money out. Do not do this unless you are 100% comfortable. You do NOT have to comply with his demand.
Take control here. Do not let your tenants bully you. He has no right to dictate how rent is paid. You have every right to require payment by check or money order only. If he does not like your terms then he can rent someplace else.
May be you should check out these sites for getting info on buying houses and apartments:
http://www.apartmentground.com
http://ontario.apartmentground.com/apartments/toronto.html
http://british_columbia.apartmentground.com/apartments/
http://new_york.apartmentground.com/apartments/
http://new_york.apartmentground.com/apartments/new_york_city.html
Hope this helps you.
The other answer is right – your account and routing number IS on every single check you have. However, this also makes writing checks the least secure form of payment. It’s not the safest to give out your account number and routing number together, but then again – checks are not the safest.
The best thing to do if you are worried about it, is to have your tenant sign up for a paypal account and do it that way every month. This is more secure than checks, and especially giving account information, because it uses email addresses, and neither party will get the other’s bank account information. Check in the sources section for an article about how this works. Hope this helps.
P.S. while you can’t steal someone’s identity with just the information on a check, the check does provide a large chunk of the information they need. For example, with the bank’s name, routing number, account number and one other piece of information, like your social security number – they can get information about your account over the phone.
Also, the first 5 digits of your social security number is public information if you’re a registered voter, the last 4 digits are the most commonly used numbers and could be easily overheard or seen. While this shouldn’t make you paranoid or worried, it’s just good to be cautious about your checking information – that’s all.