How Payments Work
Cozy allows renters to make payments with their debit or credit card, or by sending ACH payments directly from their checking account. Our payments partner securely handles all of our processing, sending renter’s payments right to their landlord’s checking account. We don’t collect or hold funds.
No transaction fees.
Renters need to verify their bank account, which usually takes 2 days.
Payments are deposited in about 5 business days after the send date.
If Express Payouts are enabled, payments will deposit in 3 business days.
2.75% transaction fee, paid by renters.
We accept Visa, MasterCard, or Discover credit or debit cards.
Renters can add cards and make payments immediately.
Payments are deposited in about 2 business days after the send date.
The renter has scheduled a payment to send in the future.
The payment is sending. It is either being collected from the renter or deposited into the landlord’s account.
The renter’s payment has successfully been deposited into the landlord’s bank account.
Payments can fail for a variety of reasons, but it’s most commonly due to insufficient funds.
Payment Processing Times*
Payments can take 2–5 business days to reach the receiving account, depending on the renter’s payment method, and whether or not the landlord has Express Payouts enabled.
* This is an example only. Other factors may affect the actual delivery date of your payment.
Typical ACH Payment Times
(5 business days)
ACH Payment with Express Payouts
(3 business days)
(2 business days)
Bank Holidays (2017)
|New Year’s Day||Jan 2|
|Martin Luther King, Jr’s Birthday||Jan 16|
|Washington’s Birthday||Feb 20|
|Memorial Day||May 29|
|Independence Day||Jul 4|
|Labor Day||Sep 4|
|Columbus Day||Oct 9|
|Veterans Day||Nov 11|
|Thanksgiving Day||Nov 23|
|Christmas Day||Dec 25|