All pending or settlement statuses displayed in the system are directly related to your linked bank account, including refunds.
Refund Settlement Explained:
The settlement date for a refund indicates the date the funds clear your bank account.
Typically, refunds leave your account the same day or the following business day after issuance. The settlement date for the refund will reflect this.
Fund Receipt by Recipient:
Property Matrix does not track when funds actually reach the recipient's (tenant’s or other party’s) account.
The actual date funds become available to recipients depends on:
Recipient’s bank processing times.
Hold periods set by your bank.
Additional external banking factors.
Ensure recipients understand this timing variability to manage expectations regarding refund availability.