With TurboTenant, renters can make payments directly from their bank account via ACH or with their debit or credit card. TurboTenant uses Stripe, the best in class payment processor to securely transfer money from your tenants to you.
Payments process on business days only. See a list of bank observed holidays here.
How long does it take?
ACH Payments: 5-7 Business Days
With a bank-to-bank transfer, it takes 3-5 days for a payment to be successfully debited from the renter’s account, and an additional 2 days for the funds to be deposited into your bank account. This is the standard timeline for all ACH payments in accordance with financial institution and network policies. ACH transfers through TurboTenant are completely free for you and your renters.
TurboTenant does not hold or float funds, they remain in the ACH network the entire time.
ACH Payments with TurboPay⚡️ : 3 Business Days
TurboTenant gives landlords the option to receive payments faster by setting up TurboPay. If you choose to set up TurboPay, we will transfer the funds to you right away instead of waiting 3-5 days for the funds to clear, meaning you get your money sooner. You can learn more and set up TurboPay for $29.99/year here.
Debit/Credit Card Payments: 1-3 Business days
Renters can pay with a credit or debit card for a 3.49% processing fee. These payments typically take between 1-3 business days to be deposited, since the funds are debited from the renter’s account much quicker than with ACH. The timeline is the same for debit and credit payments whether TurboPay is enabled or not.