PayNearMe Cash Pay | Overview and FAQ

Rentec Direct's cash payment network, powered by PayNearMe, is the leading cash payment network for property management. With over 32,000 locations, tenants can easily find a nearby payment station to make their payments.

Add electronic cash payments to your rental payment options in two quick steps:

1. Enroll in PayNearMe
2. Enable the PayNearMe Cash Option for tenants

How it Works

Once enabled, each tenant's payment options will include Cash Pay and have a unique token or barcode linked to their account/ledger. This will be required when making a cash payment at one of the participating locations to ensure the payment is credited to their ledger.

Click here to see how Tenants make cash payments PayNearMe Cash Pay | Tenant Payments

There are two ways tenants can access their barcode:

1. Tenants can log into the tenant portal of Rentec Direct on a mobile device and have the option to:
   1. Select cash payment as an option
   2. Look up the closest pay location
   3. Present their payment barcode (Each tenant has a unique barcode)
      1. The barcode can be displayed on a mobile device or printed as a payslip
   4. When the tenant goes to a pay location:
      1. They give their payment to the cashier
      2. The cashier scans the barcode
      3. The payment is reflected in Rentec Direct in minutes
2. Tenant Managers can text or print the barcode as a payslip for tenants

Tip: Print and laminate barcodes so they can be preserved and reused

Frequently Asked Questions

How much will it cost?

• Tenants pay a $3.99 service fee to the payment location when making a payment. For example, if they want to pay $500 in rent, the payment location will charge them $503.99, and $500 will be sent to your bank account.
• PayNearMe is required to complete an extensive background check on applicants (landlords) to transfer cash in the United States legally. As such, they have a one-time, non-refundable $200 setup fee.

Is there a minimum requirement for transactions?

To get started with PayNearMe, they ask that you receive an average of 10 monthly cash payments, which comes to $39.90 in service fees. The fee difference will be billed to your account if you still need to reach that minimum. For instance, if you receive 9 cash payments, a $3.99 charge will show on your monthly statement.

What are the rental payment transaction limits?

• Per Tenant
  • $2,000 per payment
  • $2,900 per rolling 24 hours
  • $10,000 per 30 days
• Per Store
  • $2,900 (Walmart, ACE)
  • $2,000 (CVS, Casey's, Walgreens)
  • $1,500 (7-Eleven)

Example: If your tenant's rent exceeds $2,000, they must split the payment into two separate transactions. If the rent is over $2,900, they must complete those transactions 24 hours apart.

How soon will I see the funds?

• Tenant payments will be reflected in the ledger of the tenant and connected property and bank account in your Rentec Direct account within minutes of the payment being made
• Tenant payments fund in your bank account in 3-5 business days

How do I reconcile PayNearMe cash payments?

• Use the Cash Settlement Online Payment report when reconciling the bank account

How can I change the bank cash payments deposit into?

To change the bank account where PayNearMe funds are deposited, fill out and return the form located here: PayNearMe Deposit Account Change

Note: There is a $75 charge for each bank change request.

How can I close my PayNearMe account?

You can close your account with PayNearMe anytime by sending an email request to success@rentecdirect.com. Please send the request from the administrator's email on your account and provide contact information, including a daytime phone number so we can verify the validity of the request.

The email will be deemed delivered once you have received confirmation from Rentec Direct that it was received. Alternatively, you can close your account by sending a letter via first class mail to Rentec Direct 231 SW I St, Grants Pass, OR 97526-2814

Can I have more than one bank account for deposits from PayNearMe?

Payments made through PayNearMe can only be deposited into the one bank account on record with PayNearMe.

Will the payment policy apply to cash payments?

The Cash Payment feature from Rentec Direct will also ensure that your Online Payment policy is respected.

• Require the Balance in Full or
• Require Rent

Should a tenant attempt to pay less than the required amount, the payment will be rejected, and an automated message will be issued to the tenant by the payment location cashier.

More information on setting payment policy can be found here: Enforcing Full Rental Payments via The Tenant Portal

Note: The transaction limits may vary per Cash Payment location. If a tenant owes more than the transaction limit (typically between $1500-$2000), be sure to set your payment policy for that tenant to Allow Any. Then inform your tenant they will need to split their payment into multiple transactions.