High yield account but poor customer service and fund transfer technology Baselane appeared to have all the right features for a landlord: rent collection, credit checks, even loans. Their interest-bearing checking account was also a nice perk. However, that is not work much if you cannot even fund the account. It's been over 3 weeks since I opened my account but after multiple attempts to contact their customer service, I still could not get my issue resolved. I even scheduled 2 live customer service calls but both times the representative did not call me! In short, high interest checking accounts and useful landlord features are the positives. But the negatives are their customer service and fund transfer technology, which falls short of expectations.

They don’t take account fraud seriously They don’t take account fraud seriously. Someone opened an account with this company in my name without my knowledge or consent. I received a card in the mail last year and get emails to a secondary email. I’ve requested numerous times that they close the account and send me copies of any statements that were generated in my name. I can’t verify the phone number on the account to access the account t online because again, I didn’t open it. They still haven’t closed the account. I wouldn’t trust them. I’m now going to the FTC to resolve my complaint.

BEST BANKING TOOLS FOR REAL ESTATE BUSINESS Very useful tools for banking and running a real estate investment business. SETTING UP ACCOUNTS. SENDING WIRES. MANAGING BOOKEEPING. Creating virtual accounts for contractors and maintenance crew.

Rental Management I run my entire management through Baselane. The three times I needed answers from customer service, they were prompt to solve my problems. I signed up mostly to collect rent digitally, which provides the tenants with their login and choice of payments. Also, the checking account has a competitive APY over other business banks. The function I didn't realize I needed was the cash flow and spending analytics by connecting other financial institutions, which then can be exported for a tax preparer.

I Would Give Them a 5 out of 5! I was, of course, skeptical at first since this involves rental money. I began using it in October and slowly on-boarded my tenants until I felt comfortable that the process worked as advertised. I have had no issues with the money being where it is supposed to be, and I can easily transfer it in and out of Baselane as necessary. My tenants LOVE it! They were previously mailing us checks every month. They said this is so much easier and free! I have had a few questions here and there for their support team and they respond very quickly, are friendly and knowledgeable. I would give them a 5 out of 5!