How many of you do ACH payments?

GlenMark · March 16

Have had a few tenants wonder if you were set up to do ACH withdrawals for monthly storage rent. Are any of you doing it, and are there any issues with it?

jimbo1956 · March 16

We use it. The advantages are a lower rate than a card costs to process and don't have to deal with expiration dates on a card.
The disadvantage is that it is not a real time approval. Site Link will process and post as a valid payment but the issuing bank may reject the payment as nsf or account closed several days later. I try to make sure we use ACH on longer-term well-known tenants,

sonyawiprud · March 22

We use ACH, I like it for the people whose cards are constantly compromised or expired. As Jimbo said, it has its cons because it can still bounce (NSF), however, with ACH, SiteLink handles a lot of the process for you by reversing the payment and adding a late fee and NSF fee and locking them out all at once. You can't get that kind of assistance from them with a paper check. AND I recently discovered that you cannot pro-rate out a refund to that type of payment, so then I have to send a request to corporate to have them send a check to the last known address.

How many of you do ACH payments?

Answers

Categories