Insufficient Funds (NSF) Fees

Yes, Inosio charges a $15 NSF fee in order to recover the hard costs we pay the banks every time there is a return due to NSF. Every tenant agrees to this policy, each time they make a payment via Inosio. We automatically debit the bank account that was used in the initial payment attempt, seven days after the return comes back. Inosio's $15 NSF fee is processed separately, is not reflected in the resident's balance in Inosio, or their ability to pay online. 

As a Property Manager, your decision to charge NSF fees is solely up to you. However, you may wish to revisit your NSF policy, as your tenants move over to making payment via Inosio. You will not see NSF charges from banks, or Inosio, when there are payments that return for insufficient funds. Inosio takes on the NSF burden/risk; thus, our policy of charging NSF fees.

Tenants are made aware of Inosio's policy around NSF Fees. They agree to our fee policy when they initially register an account with Inosio, as well as each time they make a payment via their Inosio resident portal. Furthermore, when an NSF fee is charged to a tenant's account, they can see the transaction in their account history.