Supported Payment Methods
Bidroom integrates with Stripe to provide secure, reliable payment processing for all construction project transactions. Understanding your payment options and processing timelines helps you plan cash flow and avoid unexpected delays.
Accepted Payment Methods
| Method | Processing Time | Fees | Best For |
|---|---|---|---|
| Credit Card | Instant | 2.9% + $0.30 | Small milestone payments, quick funding |
| Debit Card | Instant | 2.9% + $0.30 | Escrow deposits, milestone payments |
| ACH Bank Transfer | 3-5 business days | 0.8% (capped at $5) | Large payments, reducing transaction fees |
| Wire Transfer | 1-2 business days | $25 flat fee | Large project deposits over $10,000 |
How Payment Processing Works
- Escrow Deposit — When a project begins, the property owner deposits funds into the Bidroom escrow account for the first milestone.
- Milestone Completion — The contractor completes the agreed milestone work and submits it for review with documentation.
- Owner Approval — The property owner reviews the completed work and either approves or requests modifications.
- Payment Release — Upon approval, funds are released from escrow to the contractor's account within 2-3 business days.
- Contractor Payout — Funds arrive in the contractor's linked bank account according to their payout schedule.
Setting Up Your Payment Profile
- For Property Owners — Add a payment method in Settings > Payment Methods. You can store multiple cards and bank accounts for convenience.
- For Contractors — Link your bank account in Settings > Payout Settings. Provide your routing number and account number for direct deposits.
- Verification — Stripe may require identity verification for accounts receiving large payments. Complete this process early to avoid payout delays.
Security Measures
All payment information is encrypted using bank-level 256-bit SSL encryption. Payment data is stored directly with Stripe and never touches Bidroom servers. Two-factor authentication is available for an additional layer of security on your account. Bidroom is PCI DSS compliant, meeting the highest standards for payment data security in the industry.