At SingleKey, we offer two rent collection methods—Pre-Authorized Debit (PAD) and Interac—each with its own processing timeline.
🕒 Transaction Completion Time
1. Pre-Authorized Debit (PAD): PAD transactions typically take up to 5-7 business days to be finalized. Funds are usually deposited into the landlord on the 5th business day of the month, assuming tenant payment has been collected successfully. If the withdrawal date falls on a weekend or holiday, processing will begin on the next business day.
2. Interac e-Transfer:
Interac is designed for faster transactions. Once the tenant accepts the Interac payment request, the rent is usually deposited within 1 business day. Processing times may vary depending on the tenant’s and the landlord’s banking institutions.
🔁 How to Switch from Interac to PAD
If you prefer to switch a tenant’s rent collection method back to PAD for consistent processing, follow these steps:
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Navigate to the “Rent Collection” section.
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Click on the tenant’s name.
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Scroll down to Rent Withdrawal Method.
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Select Pre-Authorized Debit (PAD).
🛠️ Support for Missing Payments
If it’s been more than 5 business days since the withdrawal date (for PAD) or more than 1 business day after tenant acceptance (for Interac) and you haven’t received the rent, we’re here to assist:
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📧 Email: info@singlekey.com
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💬 Chat: Use the chatbot at the bottom right corner of our website
We’re committed to making your rent collection experience fast, reliable, and stress-free. If you encounter any delays, don’t hesitate to reach out!