Cozy allowed payment reversal that withdrew previously paid rent

[Alyssa K.]

I received an email from Cozy stating that a tenant disputed their rent payment/marked it as fraudulent with their bank. Cozy then reversed the payment, which had already been deposited into my account, and withdrew it. I’m livid that Cozy would allow a payment that had already been received to be removed from my account. I spoke with the tenant and they said there was a window between when her paycheck cleared and rent was removed, and is claiming her bank flagged the payment due to insufficient funds. I find it hard to believe that a bank would then mark a payment as fraud rather than charging the account holder for the “bounced check”. I’m also very concerned that now, apparently, at any given time a tenant can dispute their rent and it will be taken from my account?! Has anyone else experienced this? Cozy has made managing my own properties easy, but if they can take my money at any given time just because the tenant or tenants bank says so, I’m thinking I’ll have to switch to snail mail and cashiers checks. Anyone have another online service they prefer that puts the landlord first?