How do I select which bank account to receive rent payments into?

When setting up Rent Collection, you have the option to specify which payments go into which bank account. In the Rent Collection set-up process, select ‘Receiving Bank Account’ from the left menu to select the account where you’d like to receive your Rent & Fees and Security Deposit.
Please note that if you are collecting rent into an external bank account a $2 ACH fee will be charged. The landlord can choose if the tenant or if the landlord pays this fee. If you collect rent into a Baselane Banking Account, the $2 fee is waived.

To update the Receiving bank account details after a Rent Collection has gone live:
1. Go to the Rent Collection tab
2. Click on the Rent Collection that you wish to update
3. Here, you can view the Tenant details, Lease terms, Deposits & Fees, Receiving Bank accounts, and even 'End & Archive' the lease terms. To update the receiving bank accounts, select the box under 'Receiving Bank Accounts' - see image below:
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4. Select the desired bank account from the drop-down menu. You can update the receiving bank account for collecting rent payments & fees and/or for collecting security deposits. Note, that rent payments can only be deposited into a Checking account, not a Savings account. However, you can collect security deposits into a Savings account. 

5. Ensure you save the changes at the end, to finalize the update

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