Cozy.co to replace Dwolla, questions

[Mike S.]

Since Dwolla is transitioning to an api and not a service, I'm looking at using cozy instead.  With Dwolla, I've conditioned my tenants to expect a request on the 24th and usually all of them will begin the payment with the payments arriving to my account  on or before the 1st of the month.

My question about cozy is, is there a manual(like Dwolla) or automatic system to notify tenants 4-5 days before the first of the month to pay or does it only send notices on the first?  It isn't clear on the site when notices, if any, go out.   I don't want the payments to begin processing on the 1st, since they would arrive to my account after the grace period in most cases and incur late fees.

[Jordann B.]

Hi @Mike S. -- Jordann from Cozy support here! In terms of rent notifications, we send out a reminder each month, five days before your tenant's rent is due in case they still need to set-up a payment, or make changes to one they've already set-up.

If you add any one-time charges, we'll also send an email to your tenant letting them know, so they can login and set-up a payment.

The service that @John A. mentioned is called Express Payouts which lets you speed up your tenants’ ACH payments. Instead of the usual 5 business days, you’ll see your tenants’ ACH payments deposited to you in 3 business days.

I hope that information helps!