September 10, 2024
DOH has seen an increase in participants listing apps such as PayPal or Venmo under the asset section on their Family Reporting Form. HUD guidance states that PHA's are not required to verify deposits and transactions made through these apps. Instruments such as PayPal, Venmo, Zelle, and Cash App are not considered financial institutions and PHAs are not required to verify deposits and transactions made through them. Any benefit
derived from a policy requiring PHAs to track these instruments would be outweighed by the administrative burden it would pose.
As always, if you have any questions please do not hesitate to contact your DOH Single Point of Contact (SPOC).