New ePay fee options

Thad Peterson
Thad Peterson | 2 min. read
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Published on March 31, 2015

With ePay, your tenants can pay their rent straight from your resident site and even schedule recurring monthly payments. It’s a huge time saving feature, and one that your tenants will love… but it does come at a cost.

The cost to process a transaction via ePay is:

  • 2.75% per credit card transaction or
  • $0.50 for each EFT transaction (also called a bank transfer).

Until now, your only option for covering these costs has been to charge tenants a flat convenience fee. We recently added new options that make it easier to have tenants cover the full cost of ePay while retaining the existing ability to charge a flat convenience fee. Moving forward, you can easily include the amount of the service fee — a flat fee in the case of EFT or a percentage in the case of credit card — in the convenience fee the tenant pays.

We’ve given you total flexibility to do what makes the most sense for your business. We do want to remind you about the rules and regulations around the handling of convenience fees that come both from Visa’s terms of service and from your individual state legislature. You can familiarize yourself with the rules and regulations as they apply to your particular state and circumstance here:

https://www.ncsl.org/research/financial-services-and-commerce/credit-or-debit-card-surcharges-statutes.aspx

To set your ePay fees, click here (sign in required), then click on the bank account enabled for ePay (indicated by check mark), and then go to to your ePay settings tab.

If you have any questions or concerns about ePay fees, give us a call at 888-414-1988.

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Thad Peterson

Thad Peterson was the Director of Product Marketing at Buildium.

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