Question on sharing debit card & bank account info with (corporate) landlord.

[prudent_one]

Check with Wells Fargo again to see if the Property Management company is in their list of billers. Bill Pay IS actually ACH, the fact the WF is sending a check maybe because you asked for a cashier's check.

Or they have no arrangement to send payments using ACH with the Property Management company. If they have a relationship with the Property Management co, you can find out how to change your instructions to e-check.

If they don't, find a bank or credit union that does. Seriously.

- Rita

FWIW, and for reasons I don't understand, we have a quarterly bill from the trash company that gets paid by a printed, mailed check from my bank's bill pay. We don't do anything differently with the bill pay or tell them how to pay it, it's just this one company that gets a printed check and all the other bill pays we institute from the bank are ACH.

 

[Badger]

What's the timeline for this? About how long will you be paying them this way?

To avoid fees on the credit or debit card, I usually pay directly from your checking account. I have found most large creditors prefer to draft your checking account. "Pulling" the payment gives them more control. But, I choose to set up a BillPay to "push" the payment to them. That way they have NO authority to access my funds. With BillPay, I can set it and forget it, as long as I keep the checking account funded. When you pay your last months rent, just delete the BillPay instructions, and you are done!

I use BillPay from my CU to pay all my bills except insurance and taxes which I pay with checks. Just my preference to use the checks for those items.
I don't like anyone to have access to my accounts. There are too many horror stories and I suppose I have trust issues.
An alternative is to have a separate account that you can have a CC or DC just to that account. Then you can control the amount of money anyone has access to and replenish as needed. I use this method for travel so I can use a DC at an ATM and load the account with what I will need just for that trip. If somehow it is accessed I don't lose much.

Cheers!

 

[MarieIG]

Question -- is SOFI a legit bank? I am thinking of setting up a new checking a/c with them just to deal with this rent payment thing. Please advice. Thanks!

SoFi Bank, National Association
FDIC Insured
FDIC Insured
Since 12/29/1986
FDIC Cert #
26881
Primary Regulator
Comptroller of the Currency
Main Office Address
2750 E Cottonwood Pkwy
Null
Cottonwood Heights, UT 84121
Primary Website
www.sofi.com


https://www.fdic.gov/resources/consumers/index.html

You are able to look up info on banks re the government FDIC website.

 

[Texas Proud]

+1

Better to push payments to them rather then letting them pull payments from you.

+2...


I never let someone pull payments from my account... and I just signed for United Health Care and they offered a $4 per month discount if they did... NOPE..


I also do not even have a debit card... no reason to... use a credit card or cash...


Unless your lease says that you have to pay these ways then you can still pay by check... we are having a tough time with my DDs college apt as they want to pull money from a bank account... I told them that will not happen and the lease is silent on payment methods... they have screwed up the first 3 moths of payments (I think on purpose) saying to my DD that it would go away if she signed up for auto withdrawal...

 

[Safire]

So the alternative is being month-to-month for 2 months??

Not the impression I got. More like we'd need to get out at the end of March, if we didn't sign the rent addendum. Month-to-month is also much more expensive and our rent is already huge (we're in California).

Of course, I guess I could contest the "get out because you wouldn't give us access to our bank account" but I honestly have much bigger fish to fry and it's not top priority on my to-do list.

 

[Safire]

+2...


I never let someone pull payments from my account... and I just signed for United Health Care and they offered a $4 per month discount if they did... NOPE..


I also do not even have a debit card... no reason to... use a credit card or cash...


Unless your lease says that you have to pay these ways then you can still pay by check... we are having a tough time with my DDs college apt as they want to pull money from a bank account... I told them that will not happen and the lease is silent on payment methods... they have screwed up the first 3 moths of payments (I think on purpose) saying to my DD that it would go away if she signed up for auto withdrawal...

I also have trust issues, and being aware that a past community manager apparently stole and wiped out several residents' accounts does not exactly help. I am really paranoid giving ANYONE access to my checking a/c.

I set up a SoFi checking a/c yesterday and deposited a month's worth of rent there but the funds are ON HOLD until the 12th, so I can't use it just yet.

The leasing office manager just sent me a second PAST DUE notice. I am being arm twisted right now into paying by credit card that would cost me $64. I sent them an email that I would set up a checking account access for Nov's payment but that they need to find my current check and cash it. If they've lost it, then they need to tell me that (bank has proof of delivery of check), so that I can cancel it (for $31).

I am upset right now and think that they DO have the check but are making it hard for me just to force us to allow them access to our a/cs.

 

[Safire]

Help! This is getting serious.

DUMB question. I have multiple a/cs with Wells Fargo. IF I gave the landlord info on one checking a/c, can they access funds that we have in ANY OTHER a/c also with Wells Fargo? I realize how paranoid this sounds, I just need to know for sure as they sent me "Notice of Action" today and I feel pressured.

 

[cathy63]

Help! This is getting serious.

DUMB question. I have multiple a/cs with Wells Fargo. IF I gave the landlord info on one checking a/c, can they access funds that we have in ANY OTHER a/c also with Wells Fargo? I realize how paranoid this sounds, I just need to know for sure as they sent me "Notice of Action" today and I feel pressured.

It depends on how you set up your accounts with Wells Fargo, so you have to ask them. They do offer overdraft protection where they'll transfer funds from another account if necessary. If you have that service enabled for the checking account you want to pay rent from, you can ask them to disable it.

 

[TripleLindy]

Help! This is getting serious.

DUMB question. I have multiple a/cs with Wells Fargo. IF I gave the landlord info on one checking a/c, can they access funds that we have in ANY OTHER a/c also with Wells Fargo? I realize how paranoid this sounds, I just need to know for sure as they sent me "Notice of Action" today and I feel pressured.

I couldn’t say in absolute terms, but it would be highly unlikely access to any other accounts could be achieved, as you’ll specify account and routing number in the setup.

Like others in this thread, I’ve never authorized “pull” payments, regardless of discount offered. Given your situation, I’d set up a checking account specifically for rent payment, assuming you can add an account at no cost and any minimum balance requirement are met collectively by combination of accounts. Set up an auto transfer of funds for the amount of rent into this account monthly and use it to set up ACH transfer to landlord. That way, the account never has a balance more than your monthly rent and you can shut off the transfer of funds at any time.

 

[Texas Proud]

Help! This is getting serious.

DUMB question. I have multiple a/cs with Wells Fargo. IF I gave the landlord info on one checking a/c, can they access funds that we have in ANY OTHER a/c also with Wells Fargo? I realize how paranoid this sounds, I just need to know for sure as they sent me "Notice of Action" today and I feel pressured.

As Cathy has said.... but if you have two different checking accounts it is rare that you set it up where one can pay the other... that is usually a checking account connected to a savings account...


You are OK with having two checking accounts and having one that they pull... my sister does it for some payments... I would not have more than one pull per account in case you need to close it out.. however, for me I still would not let anybody pull money from my account...

 

[rk911]

Help! This is getting serious.

DUMB question. I have multiple a/cs with Wells Fargo. IF I gave the landlord info on one checking a/c, can they access funds that we have in ANY OTHER a/c also with Wells Fargo? I realize how paranoid this sounds, I just need to know for sure as they sent me "Notice of Action" today and I feel pressured.

dont know about WF but we have multiple accounts at PNC and Chase and can access each with the same PW.

i truly think the OP is overthinking this. payments via ACH are safe and convienent. OP can always open a chking account for the sole purpose of ACH rent payments. OP, you seem paralyzed over this issue. millions of people safely use ACH every day.

 

[Texas Proud]

dont know about WF but we have multiple accounts at PNC and Chase and can access each with the same PW.

i truly think the OP is overthinking this. payments via ACH are safe and convienent. OP can always open a chking account for the sole purpose of ACH rent payments. OP, you seem paralyzed over this issue. millions of people safely use ACH every day.

Yes, but the ones that go bad can create a big problem if you are not careful... and there is a difference between a one time and a standing order...


And example... you sign a one year contract with a gym and allow them to take money out of your account.... but you decide to stop going to the gym because they changed hours or whatever... they keep taking the money out every month and there is nothing you can do... if you used bill pay and sent a check you just stop sending checks...

 

[rk911]

Yes, but the ones that go bad can create a big problem if you are not careful... and there is a difference between a one time and a standing order...


And example... you sign a one year contract with a gym and allow them to take money out of your account.... but you decide to stop going to the gym because they changed hours or whatever... they keep taking the money out every month and there is nothing you can do... if you used bill pay and sent a check you just stop sending checks...

over the years we've had both types of ACH debits that you mentioned and again, with one exception, there have been zero problems. the exception was a utility company that failed to pull the monthly payment and that was easily rectified with the utility. and in the case you made the CC issuer can be instructed to place a "do not pay" for that vendor. in our experience ACH debits are very safe.

bill pay/check is an option but in that case I'd want to establish at least a 10-14 day lead time prior to the due date to have the check mailed. i'd hate to have to pay late fees for a mailed check that was not delivered on time.

 

[Safire]

UPDATE: Ended up getting an EVICTIONS PENDING notice that made me lose my sh1t and MASSIVELY triggered my anxiety issues. I tried to pay online with my CITI Master Card (with a virtual number) and IT WAS DECLINED because (as the Citi rep graciously explained to me) "Citi does not allow property payments on this card."

Gee. Thanks!

So, I was forced to pay with a debit card on my Wells Fargo checking and it did go through. The rent has already been debited from the a/c and I hope this is the end of it although I intend to write them an email about this whole episode. Anyway, they won. Wells Fargo customer service rep told me that we should continue paying via debit card (since they now have this info) and that they will NOT have access to other a/cs at WF, and there is NO overdraft protection on this checking a/c. We will be keeping no more than a MONTH's rent in this a/c to help debit card payments go through and just changed all direct deposits that are made to this a/c. I am still rattled by the whole issue and still INCREDIBLY nervous about them having our debit card info but I am assuming this is going to be OK.

over the years we've had both types of ACH debits that you mentioned and again, with one exception, there have been zero problems. the exception was a utility company that failed to pull the monthly payment and that was easily rectified with the utility. and in the case you made the CC issuer can be instructed to place a "do not pay" for that vendor. in our experience ACH debits are very safe.

bill pay/check is an option but in that case I'd want to establish at least a 10-14 day lead time prior to the due date to have the check mailed. i'd hate to have to pay late fees for a mailed check that was not delivered on time.

Rent check was mailed out on Sept 22, along with a Sewer & Trash check on Sept 21 to the same address! They cashed the Sewer & Trash check received on Sept 28 (per Wells Fargo) and claimed they NEVER received the rent check (that Wells Fargo claims was delivered on Sept 29).

Pretty sure they PURPOSELY did not cash the check because they WANTED to force us into giving us their a/c info. Just a nasty affair, all around, and it stinks.

 

[Safire]

Yes, but the ones that go bad can create a big problem if you are not careful... and there is a difference between a one time and a standing order...


And example... you sign a one year contract with a gym and allow them to take money out of your account.... but you decide to stop going to the gym because they changed hours or whatever... they keep taking the money out every month and there is nothing you can do... if you used bill pay and sent a check you just stop sending checks...

EXACTLY what happened to us YEARS AGO. The merchant in question would simply not stop. But I guess we can always CLOSE out the a/c and report the debit card LOST / STOLEN and that's that. I am JUST PISSED that they pulled this to force us to pay by debit card.

 

[kcowan]

We transitioned from 12 post-dated checks to direct withdrawal 3 years ago. So far so good!

I wanted to stay away from CCs because they are desperate for fees and I thought that might end badly.

I am finding that I have to switch many regular payments to push from bank account rather than CC pull to avoid CC/merchant fees.

 

[SecondAttempt]

Yes, but the ones that go bad can create a big problem if you are not careful... and there is a difference between a one time and a standing order...


And example... you sign a one year contract with a gym and allow them to take money out of your account.... but you decide to stop going to the gym because they changed hours or whatever... they keep taking the money out every month and there is nothing you can do... if you used bill pay and sent a check you just stop sending checks...

But if you sign a contract for a year you still have to pay. If you don't they will send you to a collection agency.

 

[latexman]

Our corporate landlord has sent out a notice stating that effective Dec, 2022, all rents will need to be paid by a credit card or a debit card or bank ACH.

Did you ask the LL for a list of banks they have ACH relationships with now? It seems to me if the LL is forcing this option, they must have at least one bank already doing ACH transfers with them.

An off the wall idea, if they don't have at least one ACH bank relationship, sue them. They are bound to lose, or back off.

 

[indiajust]

consider generating a forwarding credit card number, like bank of a does. Can be dedicated to just this use and restricted to prevent problems.

 

[NgineER]

You are overthinking this, relax. They are just wanting to skip the hassle of bounced checks and hunting after people who don't pay on time.

Unless you have signed a document allowing them to withdraw more money from your account than the security deposit covers, they'd be committing a crime doing so. If your security deposit doesn't cover the damage you've caused, you are off to small-claims court to battle it out.