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Just went through cozy.Co
It seems that renters have to pay a one time charge for online rent payment. However, it doesn't tell how much amout. Any idea how much do the renters have to pay?
The only one time charge I know about is the background check and credit report, I didn't realize there was a fee for them setting up their online payments too. The background check and credit report are $70, but you don't have to make your tenants do them in order to use Cozy, so you can start using it in the middle of a lease for example.
Just went through cozy.Co
It seems that renters have to pay a one time charge for online rent payment. However, it doesn't tell how much amout. Any idea how much do the renters have to pay?
I use cozy. The renter just has to verify their bank account, and they can set their payments to be sent on the 1st of the month to withdraw automatically. It's easy and simple to use.
Location: St Thomas, USVI - Seattle, WA - Gulf Coast, TX
811 posts, read 1,147,195 times
Reputation: 2322
Quote:
Originally Posted by Vin100
I looked at Chase Quickpay. it looks good. However, one of the persons needs to have an account with Chase bank. Unfortunately, in CT, where I am, there are only 5 bank branches or ATMS. Also, if I open up a basic checking account, I will be charged for every ATM withdrawal. To pen a premier checking account, we need to have a minimum daily balance of $15000. Doesn't make sense.
$1500. Not $15000. Big difference. ("Chase Total Checking" - min. daily balance of $1500 OR avg daily balance of $5000) I say it's worth tying up $1500 in a separate account, easily. I live in the Caribbean 75% of the time and travel world-wide for work the rest of the time - no Chase branches or ATMs here either, obviously. I deposit checks via iPhone app and bank online, exclusively. What does one even need a branch or ATM for, these days? Everything in my world moves through online accounts or plastic. To each their own, but it works fabulously for me and my business! I still highly recommend it!
Last edited by IslandCityGirl; 03-01-2016 at 02:27 PM..
Location: St Thomas, USVI - Seattle, WA - Gulf Coast, TX
811 posts, read 1,147,195 times
Reputation: 2322
[quote=Vin100;43205877]
Quote:
Originally Posted by IslandCityGirl
$1500. Not $15000. Big difference. ("Chase Total Checking" - min. daily balance of $1500 OR avg daily balance of $5000)
I was talking about premier checking account as it had certain perks like free checks, 4 withdrawals free from non chase ATMs per month, etc
Gotcha. Well, if you just get the Total Checking (free debit card, no checks - you can get cash back at stores with your debit card for free) or the Total Business Checking (also $1500 min. to waive fees) and use it solely for collecting rent, then transfer funds beyond your min. balance to your main/local account, maybe you'll be okay w/o checks & ATM withdrawals. Good luck!
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Well, if you just get the Total Checking (free debit card, no checks - you can get cash back at stores with your debit card for free) or the Total Business Checking (also $1500 min. to waive fees) and use it solely for collecting rent, then transfer funds beyond your min. balance to your main/local account, maybe you'll be okay w/o checks & ATM withdrawals. Good luck!
