Mi Property Portal provides a robust and flexible payment processing platform that allows you to collect and send payments from any Canadian bank using Interac e-Transfer, Electronic Fund Transfer (EFT) or Pre-Authorized Debit (PAD), and Credit Card.

Here’s a simple breakdown of when money actually moves – and how long you should expect each method to take.

1. EFT or PAD Payments (Automated Bank Transfers)

Cutoff times: Mi Property Portal submits EFT/PAD payments to the bank in three batches every business day:

• 1st: 6:00 AM (Eastern Time)
• 2nd: 1:00 PM (Eastern Time)
• 3rd: 6:00 PM (Eastern Time)

How processing speed works

• Funds are withdrawn and settled in your account after T+3 business days. The value of T depends on when the payment is submitted.
• If your payment is submitted in the 1st or 2nd batch, it starts processing that same business day. For these, T = 0.
• If your payment is submitted after 1 PM which is in 3rd slot, it rolls over to the next business day (T = 1).

Example Scenarios

Suppose today is Tuesday, October 7, 2025:

• Case 1: Payment submitted at 12:55 PM (2nd batch)
  • T = 0 (processing starts today)
  • Funds settle by Friday, October 10, 2025
• Case 2: Payment submitted at 1:10 PM or after
  • T = 1 (processing starts next business day, Wednesday)
  • Funds settle by Monday, October 13, 2025 (skipping the weekend)

NTOE: EFT payments in Canada can generally be reversed only within a short timeframe—typically up to 5 business days after processing—if there is an issue such as an incorrect amount, wrong account, or a customer dispute. However, for Pre-Authorized Debits (PAD), a payor (such as a tenant) has up to 90 days from the date the payment is processed to dispute it, and if successful, the funds can be returned. This 90-day reversal period for PADs is specified by Payments Canada rules, but standard EFT credit payments do not have such a long reversal window. Please refer to this article

2. Interac e-Transfer

• Fastest method. Funds are sent and received instantly, 24/7.
• Irreversible once processed; double-check recipient details.

3. Credit Card

• Payments are processed as soon as possible.
• Deposit to your bank account can take 2–3 business days. Actual speed depends on the card issuer.

At a Glance: Which To Use?

* Payments after the 6 PM cutoff count as next-day submissions.