So if your interest payment is $1000 then the servicer automatically ACH debits your account that plus the servicing fee (assuming you set up automatic payments as @Christian Ehlers suggests).

All the add-ons are a la carte so you can definitely get a lot of value based on what you need.One thing I personally don't like is that when tenants pay rent, they are charged $1 per transaction for ACH use.

My Fiancé and I will be wrapping up our 2nd year of investing part time in the next couple of months. And it seems to be getting less clear on where to head. Maybe you guys can help! In the past two years we have comp...

There is a processing fee if you choose the credit card option, but a direct ACH has no additional charges.

I'm still in the process of finding an alternative solution but I thought I'd leave this here as a warning for others looking to make a decision.For reference, I'll just post their email response to me here:As we review your inquiry, we would like to remind you of the following key points from our Terms of Use:In no instance shall ShinePay be liable for any of the following:"Lost revenue from service interruptions.Lost revenue stemming from delays, malfunctions of any product.unauthorized gains access to your account or due to shared passwords or if your password is hacked.Destruction to properly, places, or personal injury resulting from the installation, misinstalling, or misuse of any product.Lost revenue from entering the wrong account number for ACH or other bank transfer or money transfers or due to any delay in receiving funds.Damage to your structure, machines or car resulting from use or installation of our products.Any funds collected that are paid to a person that does not own the property.Any harm from defeating the lock and technology that controls the lock to a device.Failure to properly service any product or machine."

One of them dinged our credit and sent a late notice before I even had time to set up ACH payments with them.

We have 17 properties and the long term we do on ACH, but frankly, ACH set up at our bank is so cumbersome that I stopped using it for the mid-term market.  

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.

They get an ACH from my tenant in their account same day, but won't do the same into my account.

@Andrew KatzIn this situation, you can either (a) continue dealing with the pain of having your tenants that pay late and violate your lease terms or (b) deal with the pain of turnover but the prospect of getting better tenants.