Many tenants have questions when it comes to automatic deductions from their bank accounts. We’ve accumulated the top questions received from tenants thus far and included them in a single page FAQ (frequently asked questions) document. We’ve uploaded a document that you can feel free to share with tenants interested in automatic ACH rent payments. The file is located at http://www.rentecdirect.com/files/easypay_tenant_faq.pdf
If you receive frequent questions from your tenants that are not included, please submit them to our support staff at firstname.lastname@example.org.
Here’s what is included in the document.
How does EasyPay work?
EasyPay uses the same system that utility companies and banks use to automatically pay your recurring bills. You provide an authorization form with a voided check and our system will either automatically, or as specified by you or your landlord withdraw a specified amount without the need to write a check. The system is paperless and entirely electronic.
Is EasyPay safe?
EasyPay is very safe, in fact it’s very likely safer than writing a check. One of the leading forms of identity and bank theft are from papers just like checks or bank slips. You provide an authorization form only one time and never have to write another check, thereby saving your check supply as well as being more secure. Rentec EasyPay uses the latest and most effective security safeguards to protect and encrypt your data once it has been received by our office. It’s the electronic equivalent of a 10 foot thick solid steel vault that only you and your landlord have keys to.
Can I manually make payments instead of them being automatic?
Yes. If you prefer the system to not automatically pay your rent for you, you can select to manually make the payments instead. It is simple; you just login to your account at Rentec Direct, click the EasyPay tab, and schedule your payment each month. You must have internet access.
What if I have insufficient funds?
ACH works very much the same as a paper check. If the transaction submits and your account does not have the funds available, your bank may either reject the transaction and/or charge you an overdraft fee. Contact your bank for more information on their fees. Again, it works the same way as if you write a check and there is insufficient funds to cover the check.
What if I forget about the recurring transaction?
This question comes up a lot; however, it rarely happens. You can choose the date the funds are withdrawn, and generally rent is one of the largest monthly expenses many people have so it is not easily forgotten. If your email is in the system we will also send you an email reminder a few days prior to the transaction. If you are concerned about funds availability in your account on a certain day of the month, you can instead select to manually handle your payments instead of doing them automatically each month.
If I change my mind, can I cancel the service?
Yes, you can cancel the service any time via any of these methods. Login to your tenant portal at https://secure.rentecdirect.com/tenants, choose the EasyPay tab, and disable both the MultiPay and SinglePay checkboxes and choose Save Changes. Alternatively, you can email us at email@example.com with your contact information and we can cancel it for you, or you can call our office at 541-690-8667 to cancel. Cancelling EasyPay does not require your landlord’s approval.
We just updated the FAQ slightly to include components from the improvements to the ACH system we made today. http://www.rentecdirect.com/blog/2010/07/improvements-to-tenant-ach/