Baselane makes money primarily through the financial services we offer. This enables us to provide our core services for free.
Like most banks, we earn interest on the balances held in Baselane Banking accounts and receive a small portion of the merchant fee, also known as interchange, when you use your Baselane Visa debit card.
We share part of the interest and interchange with our customers, enabling customers to earn up to 4.19% APY on all balances (60x the national average - see here, for more details on the APY and how it is calculated) and up to 5% Cash Back.
Online Rent Payments
It’s completely free for tenants to pay rent on Baselane from their bank account via ACH transfer. If tenants choose to pay rent via debit or credit card, like all rent collection platforms, we charge tenants a small processing fee (2.99%). We keep a small percentage of this fee.
We offer landlord and tenant services through our partners, including investment property insurance, renter’s insurance, and lending. We earn a referral fee if you decide to use one of our partner services.
We will be rolling out additional pro features in the future; these will be available for a small monthly fee.