Rent Payment Processing Time

[Sam Dalton]

Is there anyway to get rent money same day? If my tenant pays on the 1st of each month, I do not get the money till a week later because of banking processes taking 5 business days. Then I am late for my payment. What can I do differently? 

[Sam Dalton]

Quote from @Nathan Gesner:

Quote from @Sam Dalton:

Ignore the stupid posts.

I use professional software and it takes three banking days to process all electronic transactions. It's some BS thing instituted by banks so they can collect interest for a few days. 

There are a few other methods that could deposit funds on the same day, but I wouldn't sweat it. Move your mortgage due date out or hold some reserves so you always have funds for the mortgage, then replenish it when your payment clears.

 Ok thank you for the post, I appreciate it.