Due to new bank verification requirements, we will not be able to offer a similar Automatic Authorization Form option on the new platform nor could we continue to offer it on the eRentPayment platform. We are now required to verify each bank account through a bank connection or micro-deposit verifications so our Authorization Form no longer meets the banking requirements.
The new platform offers advanced automatic recurring payment options similar to eRentPayment and it adds additional features:
- Balance Checks: Checks the bank account balance of each tenant before pulling the payment. This means landlords will know if a payment fails days earlier than eRentPayment.
- Failed Payments: If a payment fails, the tenant must pay any past-due charges before a new recurring payment may be added.
- Better Tenant Bank Verification: Renters can access their bank accounts directly to pay rent, ensuring that their account information is correct and that they have sufficient funds.
- More Rent Payment Options: Tenants have a variety of options when it comes to submitting their rent payments. They can now pay with ACH, card, or cash with Chime partnership.