My tenant pays rent via p2p from his Bank of America into my Wells Fargo checking on the 15th of each month and most of the time goes thru without any problem. When the 14th of month falls on a Friday I may not receive the rent even by the 17th of the month. Has anyone had any experience with this? Why would it sometimes not go through? & then I have to contact tenant to send it with wire transfer and I incur fees? I always get an automatic email on the 14th (I think It is from his bank) that the money is on its way but sometimes just does not show up next business day.

I'm getting started with ClearNow, which does ACH transfers.

With ACH transfers, suppose the transaction is supposed to initiate on Saturday the 15th. It gets delayed to the first business day after the 15th, so in this case, the autodraft won't kick in until Monday the 17th. Then it takes about three days (business days?) to hit my bank account--- so I won't expect to see that until Thursday the 20th. So that's a five-day delay because the date of the original draft didn't fall on a business day.

I had an autodraft on Wednesday the 5th. I wait three days for the funds to be deposited into my account--- but oops, the 8th is a Saturday. So the funds don't actually hit until Monday the 10th, 5 days after the autodraft took place.

So, compared to ACH transfers, which only take place on business days, your P2P can be initiated on any day, even if the funds don't actually make it in the next day. But at least you don't have delays on both sides of the transaction-- just one.

Hopefully, your biz isn't run so close to the line that a weekend's delay throws your budget out of whack. :) It's annoying, but it's bureaucracy.