How do I create and manage recurring scheduled payments?

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How to create recurring scheduled payments

1. Navigate to Baselane Banking Account

Navigate to the Baselane Banking or Transfers & Payments tab, or you can select the 'Recipient' section of the Transfers & Payments tab

  • In Baselane Banking, select 'Move Money' and 'Send Money'
  • In Transfers and Payments, under the 'Recipient' section, choose 'Send Money'

2. Scheduling the Recurring Payment

  1. Select a Recipient: Choose an existing recipient or add a new one
  2. Recipient Details: Select the payment method (ACH, Wire, Mail a Check) from an existing recipient's saved payment details or add payment details for a new recipient
  3. Payment Details: Enter the amount and select the Baselane checking account the payment will be withdrawn from
  4. Select 'Recurring payment' 
    • Start Date: The date the first payment will begin processing
    • Repeat every: Enter how often the recurring payments will repeat, either Weekly or Monthly
    • Repeat on: Enter the day of the month that the future payments will begin processing
    • When to end the series: You have three options to end a recurring payment
      • Option 1 - 'Continue until I cancel': You decide when to cancel the series 
      • Option 2 - 'End on': Select a specific date to end the series
      • Option 3 - 'End after': An exact amount of payments have been sent
  5. Add Bookkeeping Details (Optional): Add bookkeeping details such as category, property, and bookkeeping notes
  6. Review payment details & track: once you have reviewed, select 'Send Payments' to schedule.
    • Track the status: The status of your recurring payment will be displayed in the 'Scheduled payments' section of the Transfers & Payments tab.

 

Please note that the fee for an outbound wire is $15 per wire (starting from Q1 2025).

Inbound wires are free. However, please note that the sending bank may charge you a fee for sending an outbound wire.

 

Please note that the fee for a same-day ACH is 1% of the total transaction amount (up to $15). [starting from Q1 2025]

 

Important information for recurring scheduled payments

  • Existing Account: You must have an existing Baselane Banking Checking account to schedule a one-time payment
  • Account Limitations: Recurring payments can only be scheduled from Checking accounts, not from Savings accounts
  • Payment Limits: The amount you can send must not exceed the standard or high Checking account limits. Please review the tier limits in this article
  • Start & Processing Dates: You can schedule a recurring payment starting on the same day or in the future
    • If today is a weekend or holiday, your recurring payment cannot start before the next available business day
    • If a recurring payment is scheduled for today’s date, it will begin processing immediately
    • If a recurring payment falls on a weekend or holiday, it will be processed on the latest business day before that weekend or holiday

E.g. if a recurring payment falls on a Sunday, the payment will be scheduled for the preceding Friday.

How can I cancel recurring scheduled payments (series)?

  • Go to the Transfers & Payments tab
  • Navigate to the 'Scheduled Payments' section
  • Select the arrow to the right of the series of recurring payments you'd like to cancel
  • In the 'Schedule details,' select the 'Cancel payments' button
  • Confirm your selection and select the red 'Cancel payments' button to cancel the payment
  • You will see a green 'Canceled recurring payment' pop up on the bottom left-hand side of your screen, confirming the cancellation of your scheduled payment

How can I cancel one payment from a series of recurring scheduled payments?

  • Go to the Transfers & Payments tab
  • Navigate to the 'Scheduled Payments' section
  • Select the arrow to the right of the series of recurring payments
  • In the 'Schedule details,' select the arrow to the right of the payment you'd like to cancel from 'Next payment' 
  • This will bring you to the 'Payment details' for that specific payment from the series, and select the red 'Cancel payment' button
  • Confirm your selection and select the red 'Cancel payment' button to cancel the payment
  • You will see a green 'Canceled upcoming payment' pop up on the bottom left-hand side of your screen, confirming the cancellation of the scheduled payment
    NOTE: 
    • You can only cancel the next upcoming payment, not any future payment.
    • After cancelling the upcoming payment, the next payment in the series will be scheduled

 

Frequently Asked Questions (FAQs)

Can I cancel a payment after it has begun processing?

No, you cannot cancel a payment after it has begun processing (on the 'Send on' date). You can only cancel it before it begins processing.

What do I do if my payment fails?

If your payment fails, it will not automatically re-attempt. You will receive a notification email and need to manually re-schedule the payment.

Can I create internal recurring transfers between two Baselane Banking accounts?

Yes, see here for steps on how to do so.

Can I schedule multiple recurring payments to the same recipient?

Yes, you can schedule multiple recurring payments to the same recipient. However, if multiple payments are scheduled, payments beyond the daily/monthly limits will fail. Please review our Checking account Tiers in this article.

Can I edit my recurring payment details (ie. amount, recipient, account)?

No, it is not possible to edit recurring payment details (e.g., amount, account details, etc.) even before they have begun processing. To cancel the payment series and set it up again, we recommend following the steps above under 'How Can I Cancel Recurring Scheduled Payments?'.

Can I still create recurring scheduled payments if I don’t have enough funds in my Baselane Banking Checking account, on the day I schedule the payment?

Yes, you can still create the scheduled payment, as long as the first payment is scheduled to begin processing on a future date. You will get a warning during the setup process reminding you to ensure you have enough funds in the account on the day the payments are set to begin processing.

If one payment from a series of recurring scheduled payments fails, will my future scheduled payments be interrupted?

No, you will get a notification email that your payment failed and will have to manually re-submit that payment. All future payments will continue to process as normal and will not be interrupted.


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