Please use the below times as a guide. Remember that the time taken only includes business/banking days so factor in weekends, public holidays and bank holidays when communicating to customers and clients.
Tenant Paying Rent
The below payment methods process within these time frames:
- Credit Card - Received in the Property Wallet instantly.
- BPAY - Received within 24 hours if paid before 12pm. You will usually see the payment mark as completed in the app around lunchtime. Note: The payment status will not change as we don't know when the tenant initiates their payment.
- Direct Debit - Received up to 3 business days from when the debit is started. The payment status will change to Processing when the debit is initiated.
Note: This is standard bank processing times for direct debit in Australia, as there is a 3 business day clawback period for dishonoured interbank payments. To avoid these processing times, you can utilise BPAY or Credit Card.
Owner Receiving Rent
Once the rental funds are received via one of the above methods, they will be marked as Paid on the transaction list, and as the Managed App transactions use NPP technology, funds will appear in the owner's bank account within seconds. The transaction will have the property address and suburb in the description so it can be easily recognised and reconciled.
Owner Paying Bills
- Via Rent - Funds will be facilitated from the Owner's Wallet to the creditor's bank account within seconds.
- With Credit Card - Funds will be facilitated from the Owner's Credit Card to the creditor's bank account within seconds.
- From Bank Account - Funds are debited from the bank account and received in within 3 business days. Once cleared, the funds will appear in the creditor's bank account within seconds.
Our team can initiate a refund for you in the case of accidental/incorrect payments. Contact support to initiate a refund and one it has been requested allow 7 days for the reversal to complete. This process will debit the funds from the payee's bank account and return it to the payor's wallet.