Bank account #?s
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Bank account #?s (by Liz [MI]) May 8, 2018 3:09 AM
       Bank account #?s (by rentON [PA]) May 8, 2018 3:16 AM
       Bank account #?s (by razorback_tim [AR]) May 8, 2018 3:37 AM
       Bank account #?s (by Liz [MI]) May 8, 2018 3:54 AM
       Bank account #?s (by Sisco [MO]) May 8, 2018 4:06 AM
       Bank account #?s (by Liz [MI]) May 8, 2018 4:46 AM
       Bank account #?s (by S i d [MO]) May 8, 2018 5:22 AM
       Bank account #?s (by John... [MI]) May 8, 2018 5:40 AM
       Bank account #?s (by Liz [MI]) May 8, 2018 6:29 AM
       Bank account #?s (by Vee [OH]) May 8, 2018 6:29 AM
       Bank account #?s (by John... [MI]) May 8, 2018 6:33 AM
       Bank account #?s (by Liz [MI]) May 8, 2018 6:47 AM
       Bank account #?s (by NC INVESTOR [NC]) May 8, 2018 12:00 PM
       Bank account #?s (by John... [MI]) May 8, 2018 1:46 PM
       Bank account #?s (by John... [MI]) May 8, 2018 1:47 PM
       Bank account #?s (by Ken [NY]) May 8, 2018 2:12 PM
       Bank account #?s (by pattyk [MO]) May 8, 2018 2:35 PM
       Bank account #?s (by John... [MI]) May 8, 2018 3:34 PM
       Bank account #?s (by Pmh [TX]) May 8, 2018 4:25 PM
       Bank account #?s (by Liz [MI]) May 8, 2018 4:27 PM
       Bank account #?s (by Pmh [TX]) May 9, 2018 4:16 PM


Bank account #?s (by Liz [MI]) Posted on: May 8, 2018 3:09 AM
Message:

Hello, I have a MI app which asks for bank accounts and numbers. I have a tenant expressing concern with providing this info due to past experience w identity theft. I have never used a bank account number. What would be the purpose of this info? --68.48.xx.xx




Bank account #?s (by rentON [PA]) Posted on: May 8, 2018 3:16 AM
Message:

When I used to work in commercial credit we would request banking information for a bank reference. I don't believe many banks would provide a reference anymore? --67.165.xx.xx




Bank account #?s (by razorback_tim [AR]) Posted on: May 8, 2018 3:37 AM
Message:

Future garnishment could be a purpose.

Does this prospect write checks? If so they are giving their account number freely to anyone they right checks to.

I no longer ask for this info on the application - just the name of the institution. I get their account number when completing the docs for electronic draft. --70.178.x.xx




Bank account #?s (by Liz [MI]) Posted on: May 8, 2018 3:54 AM
Message:

OK so should I just request 1 checking or savings? One that matches the bank statement? He is self employed which is why Iím taking extra steps. ACh is set up directly through chase bank so I donít think I see numbers that way. I understand why heís asking, heís concerned about identity theft to. But I plan to ensure him that all information will be kept under lock and key and that everything is required as requested by a lawyer and landlord Association. --68.48.xx.xx




Bank account #?s (by Sisco [MO]) Posted on: May 8, 2018 4:06 AM
Message:

Liz, I advise that you pass on this applicant. His concern may sound reasonable, but he is being non cooperative with you, and my guess is that you will find that he has a scapegoat for every blemish on his credit and rental history.

The bank account information that he is guarding is printed on checks. --72.172.xxx.xx




Bank account #?s (by Liz [MI]) Posted on: May 8, 2018 4:46 AM
Message:

Thanks sisco!

His credit report came back great. I do plan to tell him all the information is required. I guess weíll see how he responds from there --166.137.xxx.xx




Bank account #?s (by S i d [MO]) Posted on: May 8, 2018 5:22 AM
Message:

At the application phase, I only ask if they have an account and at what bank. This is simply an fyi to me as far as how we can set up their payment if they are approved. I also use it later if they get evicted and garnishment is required.

Sisco may be right about this guy being overly sensitive, but I think I'd be a little skittish too if my ID had been stolen. If he has been cooperative up to this point, explain that you need this information for payment purposes, and then if he still refuses you can wish him good luck on his search for housing and deny the app.

--173.19.x.xxx




Bank account #?s (by John... [MI]) Posted on: May 8, 2018 5:40 AM
Message:

My app used to ask that too and I finally removed it. It was fairly worthless information and a pain for people to provide.

I now ask IF they have a savings or checking account and, if so, at which bank. It's enough to tell me that it exists.

- John...

--24.180.xxx.xxx




Bank account #?s (by Liz [MI]) Posted on: May 8, 2018 6:29 AM
Message:

John And Sid thnx for your perspective! Itís such a fine line between being strict and demanding they give me what I ask for without question, and being more considerate of their request without appearing wishy-washy.

He has been cooperative up to this point.

Sid- when do you request the bank info if not at the app phase?

John- you know it exhaust. Ur how do you get the info if you happen to need to garnish in the future? --166.137.xxx.xx




Bank account #?s (by Vee [OH]) Posted on: May 8, 2018 6:29 AM
Message:

I have that space as well and tell them to forget it if they will autodraft once the movein money is paid, otherwise it may be helpful for collecting, amazing stunt I just had to evict a young family in 2nd month, he lost his job and tax return was taken by his dui atty. --76.188.xxx.xx




Bank account #?s (by John... [MI]) Posted on: May 8, 2018 6:33 AM
Message:

Liz: In Michigan, garnishing from a bank account is actually a bit of a pain. You need to go to court for an inquiry into their balance anyhow -- so THEY have to bring their bank account balance info to court. If they are going to lie to the court, they'd lie to me anyhow -- so there really isn't a need to get it up front.

When we garnish, we garnish at their employer.

Basically, by the time you need to garnish, it is usually because they don't HAVE any savings/checking money left. So the only way to get anything from them via garnishment is to get a piece of their paycheck. So, employer is much more important than checking account number.

(Note that you should also garnish their Michigan tax return.)

- John...

--24.180.xxx.xxx




Bank account #?s (by Liz [MI]) Posted on: May 8, 2018 6:47 AM
Message:

John- ok I mentioned above he is self employed (Iíve read all the warnings in other posts about this). Does this change your thinking of requiring the bank account info or not so much ? --166.137.xxx.xx




Bank account #?s (by NC INVESTOR [NC]) Posted on: May 8, 2018 12:00 PM
Message:

You should remind him that every time he gives someone a check his bank info is printed on the front of the check. We required bank account info to confirm they are able to pay electronically. No checking account or second chance bank accounts is a rejection.

--71.75.xx.xx




Bank account #?s (by John... [MI]) Posted on: May 8, 2018 1:46 PM
Message:

Liz: Well, verifying self-employed is indeed a bit different. In that case, we usually get copies of a few months of bank statements and, more importantly, copies of two years of tax returns.

We've only had ONE person take us up on that. So, it isn't that common for us.

- John...

--24.180.xxx.xxx




Bank account #?s (by John... [MI]) Posted on: May 8, 2018 1:47 PM
Message:

NC Investor: Does anyone write checks any more? :) I haven't had an applicant write a check in a long while now...

- John...

--24.180.xxx.xxx




Bank account #?s (by Ken [NY]) Posted on: May 8, 2018 2:12 PM
Message:

John,maybe it is my age but I still write checks to pay all my bills --72.231.xxx.xxx




Bank account #?s (by pattyk [MO]) Posted on: May 8, 2018 2:35 PM
Message:

i write checks. my preferred method, but i do hope to change that in the next year or so... --184.206.xxx.xxx




Bank account #?s (by John... [MI]) Posted on: May 8, 2018 3:34 PM
Message:

Yes, I get that -- I was just joking around. But, the reality is that most younger folks today do not write checks.

Heck, I'm older and used to write them all the time, but now it is very, very rare. It's all digital now.

- John...

--96.40.xx.xx




Bank account #?s (by Pmh [TX]) Posted on: May 8, 2018 4:25 PM
Message:

not sure what the reason is to ask for bank account #...nothing you can do with it anyway. --166.137.xxx.xxx




Bank account #?s (by Liz [MI]) Posted on: May 8, 2018 4:27 PM
Message:

Thx all! I did tell him to forget the acct #s but give institutions and account balances. He replied he has obtained statements providing balance for two chase accounts. Close to 200k! We requested bank statements and tax returns for verification. Even is continuing to complain about providing ss so I gave him the ď this is a requirement per our lawyer and if you arenít comfortable we are not a match..Ē. --68.48.xx.xx




Bank account #?s (by Pmh [TX]) Posted on: May 9, 2018 4:16 PM
Message:

I donít require ss bc a lawyer told me. I get ss so I can run credit checks. is required info on my application and if application turned in without all info required I do not accept the application. simple as that. --166.137.xxx.xxx





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