For your first Pre-Authorized Debit (PAD) setup, please start at least 8 business days before your rent is due. While this might feel a bit lengthy, we’ve designed this timeline to ensure there’s plenty of time to complete the simple steps with ease, so everything’s ready without any last-minute stress.
For example, if your next rent payment is due December 1st, 2024, the last day to begin the sign-up process is November 21st, 2024.
Step-by-Step Timeline for Setting Up PAD Payments
Follow these steps to ensure a smooth setup for Pre-Authorized Debit (PAD) payments with Chexy:
At Least 8 Business Days Before Rent Day
Step 1: Sign Up and Get Your Chexy Wallet Details
Sign up for a Chexy account at app.chexy.co and choose Pre-Authorized Debit (PAD) as your payment method. Once set up, you’ll be assigned a unique Chexy wallet details, including your account number, transit number, and institution number.
Step 2: Share Chexy Wallet Details with Your Landlord
Provide your Chexy wallet information to your landlord or enter it into the platform or payment system they use.
Step 3: Complete Required Verification (if needed)
If your landlord requires verification through micro-deposits (learn more here). This may take a few days, so you’ll want to get this step completed as soon as you’re able.
At Least 5 Business Days Before Rent Day
Step 4: Activate Payments on the Chexy App
Once your landlord confirms that your Chexy wallet details are set up and verified, activate your payments in the Chexy app at least 5 business days before rent is due.
4 Business Days Before Rent Day
Step 5: Chexy Charges Your Card
Chexy will charge your card 4 business days before rent is due, ensuring that funds are in your Chexy wallet, ready for the scheduled payment.
1 Business Day Before Rent Day
Step 6: Funds Arrive in Your Wallet
The funds arrive in your Chexy wallet and are ready to be withdrawn by your landlord on rent day.
Rent Day
Step 7: Rent Payment is Processed
Your landlord’s withdrawal request is processed, and the funds are debited directly from your Chexy wallet. Your payment is now complete and automatically set up for next month.