How do payments work in Cozy?

With Cozy, renters can make payments with their debit or credit card, or by sending ACH (bank-to-bank) payments directly from their checking account. Our payments partner securely handles all of our processing, sending renter’s payments directly to their landlord’s checking account. 

Payments process on business days only (Monday - Friday). This means that weekends and bank holidays add additional days, as they are not considered business days in the processing timeline. See a list of bank observed holidays


Typical free ACH bank-to-bank payment time: 5 business days

If a renter pays with their checking account, Cozy's free processing time is 5 business days. This is because we use two ACH transactions to ensure your renter has funds available before beginning the deposit to you. 

Of these 5 business 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 the landlord account.

Week timeline, demonstrating 5 business days

Note: If a renter is setting up Cozy for the first time with a checking account, they must verify their bank account before their payment sends. 

When will my checking account be debited? (For Renters)

Payments begin processing on the scheduled day or the soonest business day (if the payment was scheduled to start processing on a weekend or bank holiday). ACH payments usually leave a renter's checking accounts on the 1st or 2nd business day of the 5-day processing timeline, but renters should always plan on funds leaving the 1st day to be safe. 


ACH payment time with Express Payouts: 3 business days

Cozy’s Express Payouts send deposits in 3 business days. With Express Payouts, as soon a renter sends a payment, Cozy starts a deposit to the landlord account. Express Payouts costs landlords $2.99 per unit per month for an unlimited number of transactions. Landlords can set up Express Payouts from the Paid Services page.

Week timeline, demonstrating 3 business days.


Card payment time: 1-3 business days

If a renter is paying with a credit, debit, or prepaid card, those payments take 1-3 business days to deposit to the landlord 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


Common Questions

How can I tell if my renter made a payment?

I'm a renter. Did I make a payment?

How does Cozy keep my money safe and secure? 

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