Banking Verification

Banking Verification2020-09-14T21:33:36+00:00

Overview

Instant Bank Verification 

As managers and owners of investment properties, it is important to protect your own portfolio by verifying your applicants and guarantors have not only the income but also the funds to ensure the fulfillment of your lease contracts! 

What is Instant Bank Verification? 

Instant Bank Verification is a product that allows consumer applicants to provide back real time bank account information to a requesting party. In turn, this allows TenantReports.com to request real time bank account information on behalf of their client account holders with consumer consent. 

Instant Bank Verification is Fast, Easy, and Secure! 

How does it work? 

  1. You Select The Level Of Transaction Information from Applicants Bank Account From 90 Day Account History

Choose between two product level offerings on all checking and savings accounts available! 

              a.  Level 1 Payroll & Self Employment Income Payments

        • Includes Payroll and Self-Reported Income
        • 90 Day History with Dates
        • Amounts and Total
        • Proprietary Pay Stability Score

              b.  Level 2 Payroll & Self Employment Income Payments + All Deposits 

        • Includes Payroll and Self-Income
        • 90 Day History with Dates
        • Amounts and Total
        • Proprietary Pay Stability Score
        • All Deposits in 90 Day History 
  1. Applicants will receive a secure email link inviting them to verify their bank access credentials with the option of selecting thousands of supported banks worldwide! (No forms required!)

How can this be useful?

With growing Technological advancements in the United States and Worldwide, more and more consumers are diversifying their income away from your traditional 9-5 and it is essential to use all the resources available to verify Non-Standard Employment Income. 

Verifying Bank Account Information is essential to verify Applicants and Guarantors have the funds to pay rent. 

With growing technological advancements Apps like Venmo, PayPal, CashApp, Google Pay and hundreds more allow consumers to receive income in most cases that can be hard to verify. 

This can be useful but not limited to:

  • Self-Employed Applicants
  • Part Time Cash Income Deposits 
    • Server, Bartender, Hairdresser, Cash Tip Jobs 
  • Retired Applicants & Guarantors 
    • Collecting Pension, Retirement Funds, Settlements, etc. 
  • Unemployed
    • Receiving Unemployment, Disability, etc. 
  • Independent Contractors (Uber, Lyft, 3rd Party Food Delivery Services, Amazon Delivery and many more) 
  • Commissioned / Performance Based Employees 
  • Inconsistent Paystubs and Untimely Pay Periods 
  • Supplemental Income 
  • International Applicants with no work history to show

Its Fast, Easy, and Secure!!

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