CondoAide can now collect your owners' condo fees by pre-authorized debit (PAD/ACSS Debit), straight from their bank account. The syndicate gets paid on time — no cheques to deposit, no reminders to send.
How it works
- The treasurer turns on collection and completes the syndicate's banking setup (Stripe Connect, NEQ pre-filled)
- Each owner self-enrolls and accepts their mandate (compliant with Payments Canada Rule H1)
- CondoAide debits the contribution on the syndicate's chosen withdrawal day and reconciles it automatically against the registry's expected payments
Worth knowing
- Owners enroll themselves — the board never has to enter anyone's banking details
- Automatic reconciliation to the registry: every debit is matched to the unit's expected payment
- Returned debit (NSF) tracking with optional manual carry-over and per-syndicate NSF fees
- Mandate tied to the owner, revocable at any time; syndicate mandate records retained 7 years
- Banking details handled directly by Stripe (PCI DSS Level 1)
Learn more on the Payments page.