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How Long Do Rent Payments Take To Process?
How Long Do Rent Payments Take To Process?

Rent Payment timeframe.

Melissa avatar
Written by Melissa
Updated over a week ago
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TurboTenant offers renters the convenience of making payments directly from their bank account via ACH or with a debit or credit card. We partner with Stripe, a best-in-class payment processor, to securely transfer money from your tenants to you.

So that you know, payments are only processed on business days. For a list of bank-observed holidays, please click here.

How long does it take?

ACH Payments: 5-7 Business Days

If you choose to receive payments via bank-to-bank transfer, it typically takes 3-5 days for the payment to be successfully debited from the renter's account. After that, it can take an additional 2 days for the funds to be deposited into your bank account. This means that you can expect a total processing time of 5-7 business days from the time of payment to the time of deposit.

Just so you know, this is the standard timeline for all ACH payments in accordance with financial institutions and network policies.

At TurboTenant, we take your security seriously. That's why we want you to know that we never hold or float funds during the payment process. Instead, the funds remain in the ACH network the entire time, ensuring that they're always in the right hands and that your transactions are completely secure.

With TurboTenant, you can trust that your payments will always be handled with the utmost care and attention to detail. We're committed to providing you with a safe and secure platform for all of your rental needs.

ACH Convenience Fee (non-premium landlord account)

1. Landlord Covers It: You can choose to pay the $2 fee. It'll be deducted from your deposit.

2. Renter Covers It: You can let the renter pay the fee.

3. Go Premium: Upgrade to our Premium Plan for free ACH payments and many more benefits!

ACH Convenience Fee (premium landlord account)

Free and included in your annual premium subscription.

ACH Payments with the Premium Plan⚡️: 2-4 Business Days

Looking for a way to get your rental payments faster? Consider enrolling in TurboTenant's Premium Plan. With this plan, we can transfer funds to you right away, bypassing the usual 3-5 day processing time and ensuring that you get your money as soon as possible. You can learn more about the Premium Plan here.

Debit/Credit Card Payments: 1-3 Business days

We're happy to offer renters the convenience of paying with a credit or debit card. So that you are aware, there is a 3.49% convenience charge for these types of payments. While they typically take 1-3 business days to be deposited, they do offer a faster processing time than ACH transfers, since the funds are debited from the renter's account more quickly.

Still have questions? Reach out to our team at [email protected] for additional assistance.

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