What is Online Payments?

Online Payments is a bank and credit/debit card transfer functionality powered by Stripe. Stripe is a powerful payment processing platform that securely allows a user to send and receive payments.

By leveraging Stripe’s API, we are able to provide an integrated ACH and credit/debit card payment experience for seamless fund transfers for our customers while reducing the headaches associated with fraud, exposure of sensitive financial data, and the complications of using third-party processors.



You can set up one of the following two types of accounts in Online Payments powered by Stripe:

  • Individual which stands for personal and sole proprietorship;
  • Business which stands for companies, LLCs, and partnerships.



This online payment method has transaction fees. All fees are paid by the tenant by default. The transaction fees for ACH payments vary based on your subscription plan:

  • Starter - $1.95/transaction
  • Growth - $1.75/transaction
  • Pro - $1.50/transaction
  • Business - volume pricing.

For card payments made by tenants, the fee is 3.5%+30¢ per successful card charge.

Note, please!
A tenant is responsible for paying transaction fees by default. However, you can change the settings so that you will be responsible for the fees.
Here you can read more:
How do I manage who pays transaction fees and customize payment methods?

You can easily add multiple bank accounts in the Online Payments and assign them to your properties:

  • Starter - 1 bank account
  • Growth - 3 bank accounts
  • Pro - 9 bank accounts
  • Business - custom.

If you register your business under different legal names, it is best to also have a different bank account for each business name. This makes it easier to track income for each business. Co-mingling accounts is not only risky because of the inability to properly track income, but it can also co-mingle the liability among each business. You can separate the bank account per entity.

  • Starter - 1 entity;
  • Growth - 1 entity;
  • Pro - 3 entities
  • Business - custom.

 

Last updated:
Jan. 19, 2024