Banking and Payments

How to Add a Debit or Credit Card to Your Account

Want to quickly add a debit or credit card to your MagicDoor account? Follow these simple steps:

1. From the left-hand menu, click Settings.
2. On the Settings dashboard, select Payment Account.
3. Click the Add credit/debit card button on the left side.
   
4. Fill out your card details and click Save card.
   Once saved, your card will appear below the Add button.
   

How to Link a Bank Account Using Plaid

Using Plaid allows for secure bank transfers with just a few clicks.

1. Go to Settings from the left-hand menu.
2. Click Payment Account in the dashboard.
3. Select Add Plaid Account on the left side.
   
4. Fill in your Plaid account details and click Save.
   

How to Set Up Rent Payment Settings

Rent collection is a key part of managing properties. MagicDoor makes it easy to streamline this process.

To setup your rent settings,

1. From the left-hand menu, click Settings.
2. On the Settings dashboard, select Rent Payment.
   

Important Settings to Enable

Make sure the following options are turned on for smooth payment processing:

• ✅ Allow online payments
• ✅ Allow ACH payments
• ✅ Allow card payments
  

Bank Account to Receive Rent

Select the account where you want rent payments to be deposited:

• Go to the Bank account to receive payments dropdown
  

Enable Partial Rent Payments

Want to offer more flexibility for your tenants? You can enable partial payments so rent is split into two manageable parts.

1. Toggle on Allow partial payments.
2. Choose a minimum amount your tenants need to pay—either a percentage of the total rent or a fixed amount.
   

With this feature, tenants can pay one portion at the beginning of the month and the remainder at the end.

💥 Rent Payment Failure Fee

You can set up automatic fees for failed rent payments to help cover processing costs and protect your revenue.

To configure this setting, scroll down the Rent Payment settings page to the Rent Payment Failure Fee section.

Available Fee Types:

• NSF Fee
  Charged when a tenant’s payment fails due to insufficient funds.

• Return Fee Chart of Account
  Applies when a payment is returned. A return fee is charged to the tenant on your behalf.

• Failed ACH Payment Fee Chart of Account
  Used when an ACH payment fails during processing (for reasons other than insufficient funds).

• Credit Card Dispute Fee Chart of Account
  If a tenant disputes a credit card charge, this fee is applied.