Security and how money moves
The short version: we write software, a licensed partner holds the money, and nobody at Fernhold can move it on a whim. The longer version is below.
Money is held by a licensed partner
Rent in transit and security deposits are held in custodial accounts at Harrowgate Payment Trust Co. Each deposit is recorded against one lease and both parties' names.
- Customer money is kept separate from Fernhold's operating money
- Deposits need both parties, or a mediator's decision, to be released
- Balances are reconciled with Harrowgate every business day
Your account is locked down
Sign-in uses a passkey or a password plus a one-time code. New devices, payout changes and bank changes trigger an alert to every contact on the account.
- Payout bank changes are held for 48 hours and can be cancelled from any device
- Data encrypted in transit with TLS 1.3 and at rest with AES-256
- Staff access to account data is logged, time-limited and reviewed weekly
Tested by people who try to break it
An independent security firm tests the app and the payment flows twice a year. We publish a summary of each round and fix critical findings within 7 days.
- Report a vulnerability to security@fernhold.example
- We reply to every report within 2 business days
- Good-faith research is welcome and won't be pursued legally
What happens if…
- Where is the money while it moves?
- In a custodial account at Harrowgate Payment Trust Co., our licensed payment partner. It is never on Fernhold's own balance sheet and we can't lend it or invest it.
- What if Fernhold closed tomorrow?
- Money at Harrowgate is held for you, so Fernhold's creditors have no claim on it. Harrowgate would send every balance to the bank account on file within 10 business days.
- What if a rent payment bounces?
- We tell both of you within one business day. Tenants never pay us a returned-payment fee, and nothing is taken back from a landlord without written notice first.
- What if we disagree about the deposit?
- Neither side can move a deposit alone. A release needs both taps, or a decision from an independent mediator on our panel within 21 days.
- Who can see my bank login?
- Nobody at Fernhold. Bank linking uses a read-only connection, and we store a token, never your username or password.
Disclosure
Fernhold Homes, Inc. is a software company, not a bank. Harrowgate Payment Trust Co. is a fictional licensed money transmitter used for this demo. Deposit accounts are custodial accounts, not savings products, and do not earn interest unless your state requires it.
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