ACH payment late fees Question

[Joan Smith]

My tenant initiated an ACH with their bank two days late. (the screen shot shows they set it to withdraw from their account two days after the grace period). Is the payment considered ‘received‘  on the day they initiated it from their bank or the day it hits my bank account (3-5 days later). (Background, they are new tenants. The first payment was wired and late, I waived this fees, this is the second rent payment).

Lease terms:
“The first month’s rent is to be paid when the Lessee signs this Lease. Thereafter, rent shall be payable in advance, upon the 23rd day of each calendar month to the Lessor. The electronic payment or rent check should be payable to xxx - at the following address: Xxx or other such place as may be designated by the Lessor from time to time. In the event that rent is not received or postmarked within three (3) days after the due date, the Lessee shall pay a late charge of $X.00 per day plus $x. 00 per day for each day after the 3rd day the rent is due.       
Your advice will be greatly appreciated.