Avail is one of the fastest rent payment processors in the country, and we are excited to bring new technologies soon so money can be delivered even faster.
Notifications are sent to landlords every time a payment is scheduled to confirm the amount, withdrawal date, and the date funds will be deposited to their account.
Payments scheduled from connected bank accounts:
Currently, rent payments from a bank account are deposited to landlord accounts 3 business days after the withdrawal date. This means that for a typical week, payments scheduled for a Monday will be received on Thursday.
Payments scheduled on a business day before 2 pm CST can be withdrawn from a tenant account as early as the next business day. It is best to urge tenants to utilize the AutoPay function or at least log in in advance to schedule payments rather than waiting to do so until the due date.
Payment scheduling by credit/debit card:
When a tenant submits a payment with a credit card, the deposit is funded to the landlord more quickly than by bank transfer. There is also a 3.5% processing fee added to what the tenant pays for this type of transaction. The 2 pm cutoff detailed below does not apply to card payments. They must be initiated before midnight, the landlord will receive funds two business days later. This means that if a card payment is scheduled at 11:59 pm on a Monday, the funds will deposit to the landlord on Wednesday morning.
Payments cannot be sent in "real time" is due to regulations which govern the Federal Reserve’s ACH payment network. This system dictates communication between banks and only allows for processing by a single batch report each business day. Rules also allow grace period from the withdrawal request for banks to send notification that the payment failed which is the main reason for .
Avail landlords receive email notifications when the tenant initiates the payment and another when the payment has been deposited into their account. Payment statuses are also easy to review in Avail.