{"id":14688,"date":"2023-07-25T06:58:15","date_gmt":"2023-07-25T11:58:15","guid":{"rendered":"https:\/\/reformingretail.com\/?p=14688"},"modified":"2023-07-25T06:58:17","modified_gmt":"2023-07-25T11:58:17","slug":"appfolio-to-add-fees-for-echeck-payments","status":"publish","type":"post","link":"https:\/\/reformingretail.com\/index.php\/2023\/07\/25\/appfolio-to-add-fees-for-echeck-payments\/","title":{"rendered":"AppFolio to Add Fees for eCheck Payments"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Fees, fees, everywhere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It looks like the new standard in today&#8217;s economy is to start charging consumers for services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even if you<a href=\"https:\/\/reformingretail.com\/index.php\/2023\/06\/15\/update-toast-will-make-next-four-quarters-on-low-quality-revenue-paid-by-john-q-public\/\"> don&#8217;t own the consumer relationship<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bank of America <a href=\"https:\/\/www.consumerfinance.gov\/about-us\/newsroom\/bank-of-america-for-illegally-charging-junk-fees-withholding-credit-card-rewards-opening-fake-accounts\/\">caught adding nonsense fees to depositors<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Biden administration <a href=\"https:\/\/www.bbc.com\/news\/world-us-canada-64584826\">noticing the prevelance of fees<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The latest fee comes from AppFolio, a property management software. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AppFolio disclosed that it will now charge customers for eCheck, which is effectively an ACH transfer but not on the ACH network (it&#8217;s technically an electronic funds transfer).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The cost to process an eCheck is <a href=\"https:\/\/www.bill.com\/learning\/echeck\">around $0.10<\/a> according to Bill.com.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So not free.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But now that fee is $2.49.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"449\" src=\"https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=770%2C449&#038;ssl=1\" alt=\"\" class=\"wp-image-14689\" srcset=\"https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=1024%2C597&amp;ssl=1 1024w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=300%2C175&amp;ssl=1 300w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=768%2C448&amp;ssl=1 768w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=370%2C216&amp;ssl=1 370w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=270%2C157&amp;ssl=1 270w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=570%2C332&amp;ssl=1 570w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?resize=740%2C431&amp;ssl=1 740w, https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?w=1160&amp;ssl=1 1160w\" sizes=\"auto, (max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">We don&#8217;t know how many tenants pay with eCheck at Appfolio but this is undoubtedly factored into their earnings expectations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Not quite as juicy as charging fees on every order at a retailer, because presumably the frequency of consumer payments at Appfolio is much less, but it&#8217;s still free money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fees, fees, everywhere. It looks like the new standard in today&#8217;s economy is to start charging consumers for services. Even if you don&#8217;t own the consumer relationship. Bank of America caught adding nonsense fees to depositors. Biden administration noticing the prevelance of fees. The latest fee comes from AppFolio, a property management software. AppFolio disclosed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[5,4],"tags":[],"class_list":["post-14688","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-solutions","category-merchants","post_format-post-format-image"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p81nA2-3OU","jetpack_featured_media_url":"https:\/\/i0.wp.com\/reformingretail.com\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-12-at-6.18.09-AM.png?fit=1160%2C676&ssl=1","_links":{"self":[{"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/posts\/14688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/comments?post=14688"}],"version-history":[{"count":1,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/posts\/14688\/revisions"}],"predecessor-version":[{"id":14690,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/posts\/14688\/revisions\/14690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/media\/14689"}],"wp:attachment":[{"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/media?parent=14688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/categories?post=14688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/reformingretail.com\/index.php\/wp-json\/wp\/v2\/tags?post=14688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}