How much are PendoPay’s transaction fees?
PendoPay costs $1 per transaction.
- If you choose the “Fees Paid By Landlord” option, you will see the full deposit paid by your tenant, and a separate expense transaction of $1 on your bank statement.
- If you choose the “Fees Paid By Tenant” option, your tenant will see the full withdrawal amount, and a separate expense transaction of $1 on their bank statement.
Additional fees will apply if our payment processor, Bank of Montreal returns an error due to a rental payment failing to process. Below are the error codes we receive when a payment does not process:
902 ACCOUNT NOT FOUND
903 PAYMENT STOPPED/RECALLED
905 ACCOUNT CLOSED
907 NO DEBIT ALLOWED
908 FUNDS NOT CLEARED
909 CURRENCY/ACCOUNT MISMATCH
910 PAYOR/PAYEE DECEASED
911 ACCOUNT FROZEN
914 INCORRECT PAYOR/PAYEE NAME
915 NO AGREEMENT EXISTED-BUSINESS/PERSON
916 NOT ACCORDING TO AGREEMENT – PERSONAL
917 AGREEMENT REVOKED-PERSONAL
918 NO PRE-NOTIFICATION – PERSONAL
919 NOT ACCORDING TO AGREEMENT – BUSINESS
920 AGREEMENT REVOKED – BUSINESS
921 NO PRE-NOTIFICATION -BUSINESS
922 CUSTOMER INITIATED RETURN
990 INSTITUTION IN DEFAULT
Because we are unable to collect the funds from your Tenant, a $20.00 fee is charged to Pendo which is passed to the Landlord who can then request reimbursement from the Tenant.
Rental payments that do not process due to banking information being submitted incorrectly by the Tenant, the fee will be charged at $10.00 per occurrence.
You can request reimbursement for this fee from your Tenant by processing a one time payment.