D & V P.
Waiting for refund.
I signed up with PayRent.com around February 10, 2023 with the hopes of getting rent payments processed thru that program. From the information online, it seemed to be a legitimate business. I saw that they use WePay, Inc., (which was owned by J. P. Morgan Chase) and so I created an account with them as well. The tenant signed up February 15th, 2023 and made a payment for the first month's rent on February 21 thru PayRent.com. We both received emails that the payment was made and accepted and that everything would process within a few days. (There was no indication of any problem at all.) On February 22, I received an email that my account was a "high risk" account, my account was closed, and the payment would be refunded. (The tenant had already moved in, of course.) The tenant's payment went thru very quickly. The tenant received an email saying that the money would be refunded within 3-5 business days. WePay, Inc. should not have taken any money until they were sure everything was approved. We are currently waiting on the money to be refunded.
Response from PayRent.comDec 13, 2023
While it is frustrating to have your merchant account shut down for high risk, it is not something PayRent can control or influence. It's important when creating your merchant account to provide accurate business and personal details. Banks are required by law to verify the accuracy of personal and business information. If any information is incorrect or incongruent, the account will be closed. In all cases, payers are refunded their payment