Payment types

Automated Clearing House (ACH)

The PropertyBridge Payments Platform™ provides property management companies with the multifamily

industry’s most sophisticated and robust solution for accepting Automated Clearing House (ACH) payments for rent. By accepting ACH payments, property management companies eliminate the administrative work involved in processing rent checks.

What is ACH?

An ACH transaction is essentially an electronic check, with funds being debited directly from the resident’s bank account. The resident simply enters their bank account and routing number to make a one time or recurring payment.

Benefits:

• Integrates payments seamlessly into leading property management accounting systems
• Reduces the costs of processing paper checks by eliminating data entry and trips to the bank
• Offers a single, integrated view of all payments across the portfolio
• Improves cash management with next day funding and payments captured in real time
• Offers a proven return on investment with customized marketing and support to drive adoption
• Provides a convenient payment method for residents - pay anytime, anywhere
• Offers a flexible, web-based interface with payment types and channels tailored by community
• Ensures that all payments are fully compliant and secure
• Provides a highly competitive rate structure based on unique relationships with leading financial services organizations

How Does it Work?

• Resident enters bank routing number (ABA#) and account number online, by phone, or in person

• PropertyBridge forwards bank routing number and account number to processor

• The routing number and account number are validated
• Processor forwards approve/decline results to PropertyBridge

• Transaction appears in real-time in the PropertyBridge application

• If approved, PropertyBridge routes check for settlement through a processor to the ACH System
• Funds are deposited in the property management company’s bank account

Go back to the Payment Types page