How long do rent payments take to process?

(For landlords)

With Cozy, renters can make payments with their debit or credit card, or by sending ACH payments directly from their checking account. Here's how long each of these payment types typically take:

Free ACH bank-to-bank payment time: 

5 business days

If your renter pays with their checking account, Cozy's free processing time is 5 business days. Of these 5 days, it usually takes about 3 business days for us to receive notification that a payment has been successfully debited from a tenant's account, and then an additional 2 business days for that payment to deposit and post to you.

Week timeline, demonstrating 5 business days

Note: If your renter is new to Cozy, they must verify their bank account before their payment sends. If your renter has added their checking account numbers manually, this may add 2-3 business days to the time it takes for that payment to begin processing.

ACH payment time with Express Payouts:

3 business days

If you need ACH payments to deposit faster, turn on Cozy’s Express Payouts to receive deposits in 3 business days. With Express Payouts, as soon your renter sends a payment, Cozy starts a deposit to you. Express Payouts costs landlords $2.99 per unit per month for an unlimited number of transactions. Visit the Paid Services page to set up Express Payouts.  

Week timeline, demonstrating 3 business days.

Card payment time:

1-3 business days

If your renter is paying with a credit, debit, or prepaid card, those payments take 1-3 business days to deposit to your account. Renters pay a 2.75% fee to pay with their card. It's free for landlords to receive card payments. 

Week timeline, demonstrating 1 business day

Learn more

Cozy will send you an email whenever your payment is processing. You can also check the estimated payment deposit date from your Cozy account. Learn how to check the status of a payment here

Keep in mind that weekends and bank holidays will delay payment, as these are not considered business days in the processing timeline. See a list of bank observed holidays.

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