When will the renter's bank account be debited?

Here are the different scenarios involving transactions and when the renter's bank account will be debited:

1. If the renter has a recurring payment on the system their bank account will be debited the next business day after the recurring payment is processed and a transaction is generated.  For example, if their recurring payment is processed on a Wednesday their bank account would be debited on Thursday morning.

2. If the renter submits a one-time payment before 6pm EST on a business day and doesn't schedule the payment for a future date the renter's bank account will be debited the next business day.  Payments submitted between 6pm EST and 8pm EST may begin processing that day depending on when we send our file to our bank and if included in the file would debit the renter's bank account the next business day.

3. If the renter submits a one-time payment after 8pm EST on a business day or they submit their payment between 6pm EST and 8pm EST and their transaction isn't included in the bank file then their account won't be debited until two business days later.  For example, if they submit the payment after 8pm EST on Monday their bank account would be debited on Wednesday morning since we wouldn't be able to begin processing the payment until Tuesday.  Payments submitted between 6pm EST and 8pm EST on a business day may begin processing that day depending on when we send our file to our bank as the time can vary.

4. If the renter submits a one-time payment but schedules the payment for a future date, such as a week from the submission date, the renter's bank account will be debited on the scheduled date or the business day following the scheduled date if the scheduled date is a holiday or weekend.  For example, if a renter submits a payment on Monday but schedules it for the Friday of that same week their bank account would be debited on Friday morning.


Please note the our bank file may be sent earlier on the business day prior Christmas Day and New Year's Day and bank holidays do not count as a business day for processing.

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