If Baselane can validate the renter's bank account and determine that the renter has sufficient funds in their bank account, we will process the rent in 2-3 business days.
If Baselane cannot validate the renter's bank account, or if Baselane determines that the account may have an insufficient balance, payments may take anywhere from 4-5 business days to process the rent payment.
We make the rent payment available to the landlord once the funds have been settled with our payment processor.
How can I make sure that my rent payments are completed within 2-3 business days?
1. We highly recommend that you connect your bank account using the online banking login credentials via Plaid.
2. We encourage you to have sufficient funds available in your account a few days before the rent is due and to maintain that balance until the rent is processed.
For more details on the fees for each payment method, see here.
When will my payment method be debited?
Your payment method is debited on the day that your payment is scheduled, either when you manually schedule a one-time invoice or when your Auto Pay is scheduled. Please note that it may take a few hours for it to reflect on your bank account.
What happens if my rent payment fails?
If your rent payment fails, both you and your landlord will be notified by email. It can take up to 5 business days after you initiated the rent payment for the payment to fail and for you and your landlord to be notified.
To avoid any additional overdraft fees from your bank, Baselane won’t retry a failed payment. Instead, the invoice will be flagged as ‘Failed’ on the Invoices page and you will have to manually reschedule the payment for that invoice. See here, for steps on how to submit an invoice payment.
Why did my rent payment fail?
The majority of the time that a rent payment fails, it is due to some issue with your payment method. The most common reasons would be due to insufficient funds (NSF) in your account at the time of the transfer, your debit or credit card has expired, or your bank has declined the payment.
In order to determine why your rent payment has failed, please reach out to Baselane’s Support team. You can email us at [email protected], or call us at +1 (888) 586-1618. Our office hours are Mon-Fri 7 AM - 5 PM EST.