Announcement
DoorLoop is now partnered with Stripe
As DoorLoop continues expanding with hundreds of thousands of properties managed through the software, we are also expanding and improving how we handle and process your payments.
Our goal is to help you continue growing your business with us, offering even more ways to collect and send payments, and with improved security.
We are excited to announce that we have partnered with Stripe, a global leader in payment processing, to provide you with a safer, smoother, and more intuitive way to receive payments online. This collaboration will greatly enhance the way you receive payments online, especially in reducing payment returns.
Here are some of the many benefits you can expect:
Greatly reduce returns for insufficient funds as the payments will be withdrawn from your tenants' bank accounts on the same day.
Nearly eliminate incorrect account numbers and fraud as tenants will now need to login and verify their bank accounts before paying.
No more waiting weeks to find out if a payment was returned. You will now be notified as quickly as 24-48 hours from the payment.
Virtually no more payment reversals or clawbacks. Once funds are deposited to your bank account, there is no more need for clawbacks because of insufficient funds.
New “Accounting > Incoming Payments” page in DoorLoop - See the status of each payment from the date the payment was made until the funds are deposited into your account.
To offer all these great benefits, new payments will take an additional 1 business day to enter your bank account (for payments made before 2pm EST), or 2 extra business days for payments made between 2-7pm EST. Once deposited, you can rest assured the funds will not be clawed back or returned unless a tenant disputes it. That means most payments will be deposited into your account in as quickly as 3-4 business days.
As always, we are here to help with any questions or assistance as needed.