We released a new feature on 01/11/2016 that will require any new bank accounts added by a tenant to be verified through small deposits sent to their bank account before the bank account can be used on our service. The tenant will enter the deposit amounts received into our system to verify the bank account to make sure the tenant has access to the bank account they are trying to submit a payment with.
This new change should reduce the number of "Invalid Routing or Account Number" returns and we want to ensure that tenants are only submitting payments from bank accounts they have access to.
Here is more information on the process and how it will affect our customers:
New tenants registering for the service will be required to verify their bank account so this can take up to 2-3 business days to receive the small deposits. Most of the deposits should be received within 1-2 business days though. The new tenants will need to account for this deposit time to ensure they register early enough to have their bank account verified in time to make a payment.
Existing bank accounts for tenants already registered with the service will not need to be verified. Any new bank accounts added after 01/11/2016 by an existing tenant will need to go through the verification process though.
Landlords and Property Managers:
The bank account verification through deposits will not apply to landlord and property manager bank accounts at this time.
We have updated our Renter Registration Steps email to include these new tenant steps so landlords and property managers should use the Properties--Forms/Steps section to send the updated steps to any new tenants instead of using any saved registration emails from prior to the change. Please be sure to mention to any new tenants of the 2-3 business day registration time to ensure they register early so that they can verify their bank accounts before any payments are due.
If you have any questions on the new feature please let us know. Thank you!