bank account number in tenant form?
This is a discussion on bank account number in tenant form? within the Landlord vs Tenant Issues forum, part of the REAL ESTATE & PROPERTY LAW category; I am a tenant in the process of securing a flat-share. The agreement form which I was asked to fill ...
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#1 |
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I am a tenant in the process of securing a flat-share. The agreement form which I was asked to fill out included a section that asks for my bank account number. Is this normal?
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#2 |
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You do not have to give that.
You can tell them that you do have an account. |
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#3 |
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Sure you can. And you can get denied.
Many LLs want this information for 2 reasons. First and foremost, they want to be sure you have a bank account and that it is in good standing. They can't see your balance (the bank won't give them that info). They will only divulge that you have an account in good standing. If you wish, you can just write that you have a checking/savings account at XYZ bank, without telling him the account numbers. All the LL has to do is to call that bank and ask if you have an account in good standing. Applicants who have no bank account have no savings, and are therefore deemed unable to handle a financial crisis (an example: car breaks down and you have no cash reserves so you must use the rent to pay for the repairs, leaving you short on the rent). This happens all the time and LLs want to avoid these types of people who don't plan ahead to have a cash reserve to handle life's everyday problems. Secondly, your LL may do direct deposit of the rent into his accounts. In this case, you would have to complete a form to allow the LL to withdraw the rent from your account and deposit it into his on a certain day. He would have to have your account number for this. |
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#4 |
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Both earlier posts are right, but they both also fall short of explaining things. First, you can choose to only provide them with your bank name, address, and number since that is all that they really need in order to ask your bank if you have accounts in good standing. Like the second poster said, the limitation of what you disclose also can play a factor in whether the tenant decides to accept your application. That being said, the second poster does not seem to acknowledge the fact that there are shady tenants out there - irresponsible people are not just those who need to rent. Before handing this tenant this information, should you deem it so, check their own credentials out with the Better Business Bureau and the local county records regarding issued complaints and whatnot. All this should be available online and should not require too much googling. Best of luck on the move.
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