With no monthly maintenance fees and a welcome bonus of $150 for new users, the Baselane business checking account is an outstanding choice for landlords and property investors. This all-in-one banking solution integrates with automated rent collection, accounting and bookkeeping, and tenant management.
You can open multiple checking accounts per property to help you organize and manage your rental income and expenses. Additionally, Baselane offers business savings accounts with up to 4.19% APY and partners with some lenders to extend real estate loans to property investors seeking portfolio growth or value enhancement of existing rentals.
With a decade of banking experience, my solid financial background helps me provide the best answers to our audience in line with the Fit Small Business editorial policy. I strive for accuracy, clarity, and objectivity in writing reviews and guides to ensure that small business owners can access impartial and critical information that supports their business decisions.
I also completed a Business degree and have substantial experience in facilitating account opening, performing KYC, and cross-selling different banking and investment products and services to both retail and preferred clients.
The Baselane business checking review was conducted in consideration of the following factors:
- Product features
- Monthly fee
- Opening balance
- Required balances
- Account opening requirements
- ATM fees
- Cash deposit fees
- APY
- Monthly transaction limits
- Cash deposit allowances
- Branch accessibility
- Other business banking products
Special Offer | $150 welcome bonus (jump to the requirements) |
|---|---|
Opening Deposit Requirement | None |
Monthly Maintenance Fee | $0 |
APY | None |
ATM Network | Fee-free transactions at over 55,000 Allpoint ATMs; Baselane does not charge nonnetwork ATM fees, but third-party surcharges may apply. |
Other Standout Features |
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- You’re a real estate investor and self-managing landlord seeking efficient integrated business tools: Baselane offers all-in-one banking, rent collection, accounting and bookkeeping, and a tenant management platform. You can streamline financial management, open multiple accounts per property, and access an automated rent collection system. Baselane tops our list of best banks for real estate investors for its all-in-one REI Real estate investing banking solution and CRE Commercial real estate loan options.
- You seek more earnings: Baselane’s business savings account provides a competitive yield of 4.19% on all deposits. You also get up to 5% cash back rewards Up to 5% cash back on the first $2,000 of home improvement spend using the Baselane debit card per calendar year. Unlimited 1% cash back on all other debit card spend. Virtual cards are also eligible to earn cash back rewards. for debit card purchases.
- You want to save on rental property management software: Baselane, one of our top online rent payment services for landlords, offers free software for landlords needing robust tools to reconcile accounts, auto-generate tax reports, and digitize rental application forms and leases. You can also send rent reminders automatically, store documents securely, and track property-related expenses easily.
- You need access to financing: Baselane partners with various lenders to offer rental property loans—such as conventional loans, asset-backed loans, and hard money loans—to real estate investors and landlords planning to grow their rental portfolio or upgrade existing properties.
Baselane Alternatives & Comparison
Account Name | Monthly Service Fee | APY | Cash Deposit Fee | |
|---|---|---|---|---|
 | Business Checking | None | None | |
 | Cash Management | None | Cash deposits not accepted | |
Visit Stessa
Stessa is a fintech platform backed and FDIC-insured by a supporting bank partnership with Thread Bank.
| ||||
 | Bluevine Standard | None | ||
Visit Bluevine
Bluevine is a fintech platform backed and FDIC-insured by a supporting bank partnership with Coastal Community Bank.
| ||||
 | Business Checking | None | None | |
Visit Found
Found is a fintech platform backed and FDIC-insured by a supporting bank partnership with Piermont Bank.
| ||||
Best For | Learn More | |
|---|---|---|
| Rental property owners seeking fee-free online rent collection with a banking product and dedicated mobile app: Although Baselane offers free rent collection with a checking account, its mobile app is still unavailable. Stessa provides built-in rent collection with its business banking product and iOS and Android mobile apps. | Read our Stessa Business Checking review |
 | Business owners seeking fee-free checking accounts with competitive interest rates: Baselane no longer offers an APY for its checking accounts and requires clients to open a savings product to access tiered interest. Bluevine Standard checking offers 1.5% APY for qualifying balances up to $250,000. | Read our Bluevine Business Checking review |
| Self-employed individuals looking for free access to built-in bookkeeping and tax preparation tools: While Baselane integrates bookkeeping, it does not offer direct tax payments through its app. Found Plus subscribers can pay their federal estimated taxes directly from Found’s app. | Read our Found Business Checking review |
Baselane Business Checking Terms & Features
Baselane Business Checking Requirements
Part of the Baselane business checking requirements is providing the following:
- Name
- Valid US mailing address
To verify the address, you need to present any of these documents (must be current within the last six months):
- utility bill, bank statement, lease agreement, pay stub, insurance bill/statement, or driver's license
- incorporation documents or EIN letter can also be presented by business entities - Date of birth
- Social Security number (SSN) Supporting documents for SSN verification are filed tax returns, W-2, social security cards, or 1099. or tax identification number (TIN) Supporting documents for EIN verification are filed tax returns (must be within the past two filing years) or EIN letters from the IRS.
- Business information
- Government-issued ID Acceptable IDs are driver's license, state ID, passport/passport card, permanent resident card/green card, US visa card, or state-issued driver's permit
- Legal business documents Valid documents are certificates of incorporation, articles of incorporation, partnership agreements, articles of organization, corporate resolutions, LLC operating agreements, certificates of assumed name, certificates of formation, trust agreements, or organization documents.
How to Open a Baselane Business Checking Account
- Step 1: Visit Baselane.
- Step 2: Sign up for a free landlord account.
- Step 3: Go to Baselane Banking and click Add Banking Account.
- Step 4: Click Open Baselane Banking Account.
- Step 5: Select an Account Type as a Sole Proprietor for individual business owners or Business for LLCs, corporations, or partnerships.
- Step 6: Enter the required business information, including officer and beneficial ownership.
- Step 7: Click submit. The application approvals can take 24 to 48 hours.
Baselane Business Checking Features
$150 Welcome Bonus
To earn the $150 bonus, you need to:
- Fund your Baselane banking account. Provide your email and deposit at least $500 within 30 days and maintain that average balance for 60 days
- Perform mortgage payments. Make more than $1,500 of mortgage payments from your Baselane banking account within 90 days
- Collect rent via Baselane. Collect more than $1,500 of rent via Baselane into Baselane banking within 90 days
Unlimited Virtual Accounts
Business owners can open multiple virtual Baselane banking accounts for free. Virtual accounts are treated as sub-accounts with their own corresponding account number under the main account. This helps independent landlords organize and segregate accounts per rental property. They can separate renovation budgets from security deposits, savings, and rental payments.
Physical & Virtual Debit Cards
Baselane issues one physical debit card and up to 10 virtual cards for each main account and virtual account. This allows you to create different categories and spending limits.
Cash Back Debit Card Rewards
Per calendar year, landlords and authorized users can earn up to 5% cash back on their $2,000 eligible home improvement purchases using the Baselane debit card. For other debit card purchases, you also earn unlimited 1% cash back. Physical and virtual cards earn the same cash back rewards.
Fee-free Transactions at Allpoint Networks
Baselane clients can deposit and withdraw at over 55,000 Allpoint ATMs for free. Cash deposits can only be made at Allpoint ATMs, and they are limited to $2,000 daily. The maximum cashout for ATM withdrawals is $1,000 daily.
Online Banking
Currently, the Baselane mobile banking app is under development, but Baselane can be accessed through mobile and desktop web browsers.
Through a mobile browser, you can:
- View the account summary
- View and/or tag transactions
- Open a Baselane Banking account and link external bank accounts
- Add/send funds to/from a Baselane account
- Add/manage properties
- Deposit checks
- Set up rent collection and manage lease details
- Manage your profile
Using a desktop browser, you can:
- Interact with statements and charts and access the tax package
- View tenant account activation status
- View property metrics, insurance, and loans tabs
Built-in Rent Collection Software
- Automate invoices for rent, fees, and security deposits
- Send automated payment reminders
- Receive rental payments directly in your Baselane or external banking account in two days via QuickPay
Built-in Accounting & Bookkeeping
- Auto-sync all Baselane banking and external account transactions
- Categorize transactions specifically based on Schedule E
- Capture receipts for tax reporting
- Access real-time cash flow insights
- Generate property-specific financial reports
Built-in Tenant Management
- Streamline tenant screening with extensive background checks
- Create digital leases for e-signing
Other Baselane Business Products
Baselane’s savings accounts offer a tiered APY of up to 4.19%. Only the funds in the savings accounts are eligible for interest earnings even if the total balances across your checking and savings accounts determine your APY tier.
Total balances:
- Less than $10,000 earn 1.95% APY
- Between $10,000 and $24,999 earn 2.93% APY
- Between $25,000 and $49,999 earn 3.40% APY
- Amounting to $50,000 or more earn 4.19% APY
Rates are variable and subject to change based on the Federal Funds rate. No minimum balances or deposits are required to earn interest on your savings account.
Baselane partners with some of the largest lenders to offer different types of loan products, such as conventional loans, asset-backed loans, and hard money loans.
To be eligible, you need a:
- Minimum loan amount of $100,000
- FICO score of at least 580
All loans are available in California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Kentucky, Maine, Michigan, Minnesota, Mississippi, Montana, New Jersey, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Washington, West Virginia, and Wyoming, as well as Washington, D.C.
For landlord insurance, Baselane partners with Obie, which is one of our leading short-term rental insurance companies and top commercial property insurance companies. The insurance includes coverage of the dwelling, liability payments, loss of rent, loss of use, personal property (optional), and medical payments. Instant rental property insurance quotes are available online.
- Legal services
- Tenant screening services
- Tax preparation services
- Renters insurance
- Lines of credit
Baselane Business Checking Reviews from Users
| Users Like | Users Dislike |
|---|---|
| Instant account opening and cash back rewards | Lack of mobile app |
| Ease of use | Removal of business checking APY |
| Helpful rent collection and bookkeeping features | Long check processing time |
Many Baselane business checking reviews mentioned that setting up an account is easy. Reviewers also appreciated the integrated rent collection and bookkeeping tools, as well as the cash back earnings from using Baselane’s debit card.
Some customers, however, complained about needing to open additional savings accounts to access the APY, unlike before. Several also looked forward to using a mobile app in the future to streamline Baselane’s services.
Here’s how Baselane scored on third-party review sites:
Frequently Asked Questions (FAQs)
No, Baselane is not a bank; it’s a fintech platform backed by FDIC-insured Thread Bank. Your deposits have an FDIC coverage of up to $3 million through its partner bank’s sweep program.
Yes, Baselane does not charge opening, monthly, and account minimum fees. Additionally, no fees are collected for ACH transfers and overdrafts.
No. Currently, you cannot connect your Baselane banking account with Zelle.
Yes. Through Baselane’s online rent collection software, real-time reports on the status of your monthly rent payments are available. This makes it easy to report online rent payments to credit bureaus.
Bottom Line
We recommend Baselane’s business checking account to property investors and independent landlords for its all-in-one fee-free banking account and property management software. You can streamline bookkeeping, track expenses, create unlimited virtual accounts, and view rental cash flow in one platform.
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