Allow up to three working days after the collection date for rent collected by direct debit, two working days for card payments and bank transfers, and the same day for pay by bank. If rent is due on the 1st, a landlord statement run on the fourth working day afterwards catches rent paid every way. Propertymark's rules ask members to pay money out promptly and within a calendar month of it becoming due, so in practice the deadline you're working to is the one your landlords expect.
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The short version
- Allow up to three working days after collection for direct debit rent, two working days for card and bank transfer, and the same day for pay by bank.
- For rent due on Tuesday 1 December 2026, a statement run on Monday 7 December includes rent paid every way.
- Direct debit runs on the Bacs three-day cycle after at least three working days' notice to the tenant, so notice for 1 December goes out by 26 November.
- Set statement day four working days after the main rent date, write it into your management agreements and move it back around Christmas and New Year.
- Propertymark members must pay money out promptly and within a calendar month of it becoming due, so ask your scheme how that applies to rent collected by a payment provider.
When rent reaches your account, by payment method
Take a £950 rent due on Tuesday 1 December 2026, collected through Adfin. Settlement times are counted in working days, so weekends and bank holidays push them back.
| How the tenant pays | Money in your account by |
|---|---|
| Pay by bank | Tuesday 1 December |
| Card, Apple Pay or Google Pay | Thursday 3 December |
| Bank transfer or standing order to the tenant's unique bank details | Thursday 3 December |
| Direct debit | Friday 4 December at the latest |
So a statement run on Monday 7 December has every December rent in it, whichever way the tenant paid. Payouts arrive every weekday in full, with the fee invoiced separately, so £950 collected is £950 in your account and the figure on the landlord's statement matches the bank line without any fee to unpick.
A standing order to your own account can land on the due date itself. Against that, it arrives only if the tenant hasn't cancelled or changed it, and you then have to identify and match it before you can pay anyone out. A direct debit takes longer to land but arrives on a date you already know.
Why direct debit takes a few days
Direct debit runs on the Bacs three-day cycle: the collection is submitted on day one, processed overnight on day two, and debited from the tenant's account on day three. Before that, the tenant has to be told the amount and date. Tenants are emailed at least three working days before each collection, so for the 1 December rent, notice goes out by Thursday 26 November. A rent schedule set up once covers this every month, including the year's rent increase, without anyone remembering to send it.
After the collection date, the money is settled to your account within three working days. Pay by bank and card payments don't go through the Bacs cycle at all, which is why they reach you sooner, though a card payment still takes two working days to settle. When it has cleared, the tenant gets a confirmation email saying the payment was successful, which answers most "have you got my rent" messages before they're sent.
A failed collection gets free automatic retries before the tenant is asked to pay some other way. Pay by bank arrives the same day, so for a tenant who's late, a pay by bank link sent the day before statement day can still get their rent into the run.
How to set rent day and statement day
- Fix statement day relative to rent day. Four working days after the main rent date suits a mixed rent roll, because direct debit money is in by the end of the third.
- Write the date into your management agreements and tell landlords before the first statement, so landlords aren't emailing on the 2nd to ask where their money is. A line such as "statements go out on the fourth working day after rent day" is enough.
- Take the first month's rent by pay by bank or card, then ask the tenant to set up the direct debit for later months. New landlords see money quickly, and the mandate is in place before the second rent date.
- Run statements weekly if rent dates are spread across the month, so no landlord waits weeks for rent that arrived early in the month.
- Check your scheme's rules. Propertymark members have two working days to bank client money into client account and should pay money out promptly, within a calendar month of it becoming due. Ask your scheme how those rules apply to rent collected for you by a payment provider.
- Plan around bank holidays. Christmas and New Year add days to every settlement time, so move statement day back and tell landlords in November.
Rent that hasn't arrived by statement day holds up a run too. Adfin's AI agents can chase those tenants by WhatsApp, SMS or email on the schedule you set, with a payment link, and you can pause it for a tenant you know is struggling.
Common questions
How long does a direct debit take to reach a letting agent? With Adfin, direct debit rent is in your account within three working days of the collection date. The collection itself follows the Bacs three-day cycle and at least three working days' notice to the tenant.
Is pay by bank faster than direct debit for rent? Yes. Pay by bank reaches your account the same day, so it suits first payments and late rent.
Are Adfin's fees deducted from the rent before it's paid out? No. Payouts are made in full every weekday and the fees are invoiced separately.
How long do I have to pay the landlord? No statute sets a deadline, but Propertymark's rules say payments out of client account should be made promptly and within a calendar month of becoming due. Your management agreement may set a shorter period.
Do settlement times count weekends? No. They're counted in working days, so a direct debit collected on a Friday is in your account by the following Wednesday at the latest.
When does the tenant get confirmation that their rent was paid? For direct debit, once the payment has cleared; for card and pay by bank, as soon as the payment succeeds. Adfin sends it automatically as an email.
Sources
- Bacs - Direct Debit: An introduction to the service (accurate as of October 2026) https://www.bacs.co.uk/media/pu4bmlzs/dd_introduction.pdf
- Propertymark - Conduct and Membership Rules (accurate as of October 2026) https://www.propertymark.co.uk/static/1b740fbb-8cc0-4ed4-8a5bd9b5d006d765/75f8bfdf-f1b8-471f-8b342051082cc258/propertymark-conduct-and-membership-rules.pdf
- Adfin - Pricing (accurate as of October 2026) https://www.adfin.com/pricing
- Adfin - When will I receive my payout? (accurate as of October 2026) https://support.adfin.com/en/articles/10199985-how-long-do-payments-take-to-settle-by-payment-method
- Adfin - Getting started with direct debits (accurate as of October 2026) https://support.adfin.com/en/articles/10192945-getting-started-with-direct-debits
