Propertyware Knowledge Base

Propertyware offers payment processing through FTNI.  This value added services allows you to receive electronic payments from tenants and post owner draws electronically.  Here is a breakdown of funding times for each payment type:

Tenant Payments

• The cutoff time for payments to be posted to the daily batch is 3:00pm Central Standard Time.  Any payments received after this time will post in the following day's batch.
  
• Payments entered prior to the cutoff time will be sent to FTNI that day. (Monday)
  
• FTNI holds the payments for one day. (Tuesday)
  
• The day following FTNIs hold, the funds are swept to the PMCs bank account. (Wednesday)
  
• The funds are made available in the PMCs bank account.  (Thursday)
• The funds availability is dependent on the bank's availability to funds policy.

Owner Draws

• The cut off time for draws to be posted to the daily batch is 3:00pm Central Standard Time.  Any owner draws made after this time will post in the following day's batch.
• Draws entered prior to the cutoff time will be deducted from the PMCs account the same day. (Monday)
  
• The following day, the funds are swept to the owner's bank account. (Tuesday)
  
• The funds are made available in the owner's bank account.  (Wednesday)
• The funds availability is dependant on the bank's availability to funds policy.