Frequently Asked Questions

What is Velox Pay?
Velox Pay is an instant rent collection service that allows landlords to receive payments instantly via FedNow, eliminating bank delays and processing fees.

How does FedNow work?
FedNow is a real-time payment system developed by the Federal Reserve, allowing instant bank-to-bank transfers with no processing delays or chargebacks.

Who can use Velox Pay?
Velox Pay is designed for landlords, property managers, and real estate investors looking for a fast and reliable way to collect rent payments.

Why should I use Velox Pay instead of Zelle, Venmo, or ACH transfers?
Unlike Zelle or Venmo, FedNow eliminates delays and ensures instant, irreversible payments, reducing disputes and chargebacks. ACH transfers can take 2–5 days, but FedNow transactions are completed immediately.

How do tenants pay rent through Velox Pay?
Tenants receive a secure payment link or QR code and can pay instantly from their bank account via FedNow.

How fast will I receive rent payments?
Payments are processed instantly through FedNow, meaning you’ll have funds in your account within seconds after the tenant pays.

Are there any transaction fees?
Velox Pay offers low-cost rent collection with no hidden fees. We charge either a flat monthly rate per tenant or a small percentage per transaction—whichever works best for you.

Can tenants set up automatic rent payments?
Yes! Tenants can enable recurring payments, so rent is paid automatically every month without manual action.

What happens if a tenant sends an incorrect amount?
Since FedNow transactions are final and instant, the tenant must contact you to resolve any payment errors.

Is Velox Pay secure?
Yes! Velox Pay operates on the Federal Reserve’s FedNow network, ensuring bank-level security and encrypted transactions.

Can payments be reversed or disputed?
No, FedNow transactions are final and cannot be reversed, eliminating chargeback fraud.

Does Velox Pay store my banking information?
No, Velox Pay does not store any banking credentials. Payments are processed securely through the FedNow network.

How do I sign up for Velox Pay?
Click “Get Started” on our homepage and follow the simple steps to register as a landlord. You’ll be able to create payment links and start accepting rent instantly.

Do I need a special bank account to use Velox Pay?
Your bank must support FedNow payments. Most major banks are already integrated with FedNow, but we provide a quick guide to check compatibility.

Can I use Velox Pay for commercial properties or multi-unit buildings?
Yes! Velox Pay is perfect for single-family homes, multi-unit buildings, and commercial properties.

How do I invite my tenants to use Velox Pay?
Once registered, you can send payment links or QR codes to your tenants via email, SMS, or your property management portal.

What if my tenant has trouble making a payment?
Our support team is available to assist. You or your tenant can contact us at support@veloxpay.com for help.

Can I cancel my Velox Pay subscription?
Yes, you can cancel anytime. There are no long-term commitments or hidden fees. I have more questions—how can I contact Velox Pay?
You can reach us via email at support@veloxpay.com or through our Live Chat on the website.