Vlge supports a wide array of electronic payments, including credit card, ACH, etc. However, at times it is necessary to provide an option for accepting a physical check. This can be done either by mail or, in certain cases, in person.
Option 1: Western Alliance Banking Account with Lockbox Services
Vlge Partners with Western Alliance Banking, the nation's largest provider of banking services to "common interest communities" such as HOAs and POAs.
An account opening is required in order to use the Lockbox services so that Western Alliance Banking can receive checks, process checks, and deposit them into your account. You can then move funds out of that account to whichever external account you choose. There is no minimum balance requirement. The per-check processing here is $2.50.
This WAB/Vlge partnership includes a streamlined application process available in the Financial Dashboard under "Banking", and there is no charge for opening or maintaining an account with Western Alliance Banking. Many HOAs choose to use WAB for their operating and reserve accounts, seamlessly moving money from reserve to operating accounts, ensuring the best interest-earning potential for funds in reserve.
Option 2: Choose Your Own Address for Mailing
This option is as straightforward as it sounds. You simply list a physical mailing address where your residents should mail checks, and this address will appear as an option in the payment instructions for any dues or other billing presented to your members.
To set this up, visit Financial Dashboard ➡ Billing Settings
You can add custom instructions here as well:
