With Zibo, renters can make payments with a debit or credit card, or by sending ACH (bank transfer) payments directly from a bank account.
Payments will be processed on business days (Monday-Friday). Weekends and bank observed holidays are not considered business days in the payment processing timeline. See a list of bank observed holidays.
Zibo’s processing time is typically 2-3 business days which is a full 2 days faster than most other digital rent collection platforms. The Zibo rent collection dashboard will update payment status to “Processing” as soon as a tenant initiates a payment, allowing landlords to know immediately when a payment has been made. It usually takes 2 business days for Zibo to receive notification that a payment has been successfully debited from a tenant account and then one additional day for that payment to deposit and post to the landlord account.
If it is the first time that a landlord receives a payout to a bank account, the transaction will take 7 business days. Weekends and bank observed holidays
are not considered business days in the payment processing timeline. So if a renter initiates a payment on a Monday and it is a normal two day weekend, the landlord will receive the payment nine days later on a Tuesday. This is the time it takes to validate the first transaction in order to protect both tenants and landlords from fraud. If a renter is setting up Zibo for the first time with a bank account, they must verify their bank account before a payment may be processed. These measures help to ensure the integrity and security of payment processing for both landlords and renters.
It is free for renters to pay by bank transfer. Renters pay a 2.99% fee for card payments. It is free for landlords to receive bank transfers and card payments.