You acknowledge that Bilt has a policy whereby it may hard reject (i) any individual rent payment in an amount over $20,000 (unless you contact Bilt at firstname.lastname@example.org for approval prior to initiating the transaction) and (ii) any attempt to make more than one rent payment to one payee within a 30 day period (exclusive of NSFs or blocked or returned payments). Rejected payments may result in you incurring fees or penalties from your property manager or other third party service providers.
There was some concerns that this would lead to a blocked payment where a convenience fee is charged by the landlord. We reached out to Bilt and they provided the following statement:
Since the beginning, Bilt was founded to make rent rewarding for our members by enabling customers to earn rewards on their monthly rent payment. Bilt’s language in our Terms and Conditions as well as Bilt’s broader transaction monitoring is designed, among other things, on preventing abuse of Bilt Rent Payments. For example, if a landlord charges a small ACH fee, that charge + your monthly rent payment will process without issue. Similarly, if you choose to break up your rent payment to the same landlord into 2 smaller payments, that will also process without issue. In a similar vein, payments made in February and March will process without issue.
To summarize, the transaction monitoring is designed to help prevent abuse. To further help our members, Bilt will let the member know by email if a subsequent rent payment is at risk of rejection (and to contact support if they believe this is in error)
It seems the change in terms is designed to block additional payments for items such as utilities rather than legitimate rent payments/convenience fees.