This article details common connection troubles for Renters when linking a bank account with rent payment through RentSpree.
RentSpree partners with industry leader Stripe to offer a fast and safe way for renters to connect their bank account to send rent payments
Below are some common issues you may encounter when trying to link your bank account, and how to resolve.
❓I can't find my bank, what do I do?
First:
1. Make sure you check the spelling of the bank you are searching, and try all possible options.
- For example: 1st and First, or Federal Credit Union and FCU.
2. Did your banking institution recently change names, or get acquired? Make sure to enter the current name of your banking institution, not just the one you signed up with.
- For example: Boeing Employee Credit Union > BECU, or SunTrust and BB&T have been acquired by Truist, so you would enter Truist.
If you have tried the above steps and still do not see your bank:
Currently, only banks that have partnerships with Stripe can be used to pay rent.
❓I don't use online banking, can I still make my rent payments with RentSpree?
You will need to have online banking set up in order to use RentSpree's rent payment feature.
❓What if I use a spending account, online bank, or a pre-paid account?
How do I know if I have a checking account or a spending account?
Spending accounts are becoming increasingly popular as neo-banks begin to arise. These are companies that offer banking services, but are not themselves a bank. In order to offer these services, these companies house the funds at a larger parent bank, however all your "banking" is done under their name, making these accounts "spending" accounts. Some examples are:
- Credit Karma Spend/ Credit Karma Money
- Robinhood Cash
- Acorns
- Dave
- Albert Cash
Can I use my spending account or pre-paid account with RentSpree rent payment?
If you have a spending account (like any of the aforementioned), or you have a prepaid account (Walmart MoneyCard, GreenDot, etc.), unfortunately these accounts will not be able to connect with rent payment. RentSpree's rent payment feature currently only supports connecting checking accounts. However, we hope to offer more ways to collect and pay rent soon! Stay tuned!