When a tenant submits a payment electronically through Innago, we send the funds to you as quickly as possible. In most cases, you will receive your payment after just one business day.
Please keep in mind, funds only process on business days during business hours (for banks that means 9am-5pm EST, Monday through Friday). If a tenant pays late at night or right before a weekend, you might not get your money for a couple of days. We do not have a rush delivery option.
The first time a tenant pays online, we hold the funds for 3 extra business days. This means if they pay on Monday, we hold the funds Tuesday, Wednesday, and Thursday. Those funds would then be deposited into your account on Friday. The purpose of this three day hold is to verify that the accounts are all real, and to ensure that the transactions are legitimate. After this initial payment, all future payments are held for just one business day. This means that if a tenant pays on Monday, the money will be deposited into your account first thing Wednesday.
Additionally, if a tenant has been flagged for insufficient funds in the past (less than 1% of all transactions), we will always hold their funds for three business days before sending them to you.