Product Updates

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January 2023

Virtual Cards are here, and they're kind of a big deal!

Baselane’s Visa Virtual Cards work exactly like your physical debit card—they just live on your Baselane Banking platform instead of your physical wallet. They allow you to automate bookkeeping, give you greater control over spend, and are a safer and more convenient way to pay.

What's so special about our Virtual Cards?

Automate Expense Categorization

Make bookkeeping a breeze. Set rules for each card to have all transactions auto-tagged to a property and expense category.

Create Up to 10 Virtual Cards per Banking Account

Use them to manage your spending, create separate cards for different expense types, properties, vendors and more.

Control Your Spend

Set spending limits, lock, unlock, and close cards any time you want.
If the card is locked or the transaction goes over the limit, it will automatically decline.

Instant Activation

You don’t have to wait for your card to arrive in the mail—start using it from the moment it’s created.

Unlimited 1% Cash Back

Get the same great rewards that you have with your physical Baselane debit card.

Better Security

There is no physical card that can be stolen. Instantly lock or close your card details if you think your account has been compromised. Plus, built-in Visa fraud protection.

Add to Apple Pay and Google Pay

Instantly add Baselane Virtual Cards to Apple Pay and Google Pay, to use anywhere contactless payments are accepted.

How Virtual Cards Work

Start using Virtual Cards in a few simple steps

  1. Open a Baselane Banking account in minutes if you don’t already have one.
  2. Create a virtual card directly from your Baselane Banking page; instantly see the card number on the Baselane platform.
  3. Set a spending limit for the virtual card. Great for recurring payments, budgeting and control.
  4. Set card rules to have all transactions auto-tagged to a property and expense category.
  5. Get unlimited 1% cash back on spend and track your spending on the Transaction page.

December 2022

Introducing new features to supercharge your rental property finances.

This month, the Baselane team has added many new features that will help supercharge your rental property finances. We still have many exciting things to release this month, see our latest roundup below:

Mobile Check Deposit

You can now deposit a check into your Baselane banking account from your mobile phone. Simply snap a picture of the front and back of your check and the funds will be deposited into your account in 5 business days.

Send ACH Transfers to 3rd Party Recipients

Baselane Banking now allows you to send ACH transfers to 3rd party vendors and other recipients using their routing and account numbers. This is an easy and secure way to pay your contractors and vendors in minutes.

Add a Bank Account to Collect Rent Using Routing and Account Numbers

We’ve made it even easier to collect rent on Baselane by allowing you to add external bank accounts using your routing and account numbers. To add an account using your routing and account number simply set up a new rent collection and at the ‘Receiving Bank Account’ selection, add a new account, select ‘External Account’ and then ‘Add Manually’.

Timeline for Rent Payments

We’ve heard your feedback and are excited to share that now you can see precisely where your rent payments are with our new Payment Timeline. Click on any invoice and head to the bottom of the Invoice Details to see the new timeline, where your money is, and when you should expect to receive rent payments.

Review Invoices During Rent Collection Set Up

You will now be able to review and confirm all rent payment invoices during the rent collection setup. This way, you can make sure all payment invoices are correct and quickly update them if needed.

November 2022

Business profiles, micro-deposit authorization for tenants, and optimized external bank account management

It has been a busy November here at Baselane as we continue to improve our product. More is coming later this month, but we are excited to share the following updates that are already live and ready for you to use.

New Business Profiles

Baselane now allows you to add a separate Business Profile (separate from your primary Baselane profile). This information will be displayed in all correspondence with your tenant, included in your tenant’s portal and emails.

To update your Business Profile, Sign In and navigate to your Profile & Setting > Business Profile tab.

Micro-deposit bank account authorization for Tenants

Micro-deposits are a convenient and secure way for your tenants to authorize their bank accounts to make rent payments without providing online banking credentials.

This feature offers peace of mind for tenants who might not feel comfortable adding a payment method using their online banking credentials and flexibility for tenants who bank at smaller financial institutions that our 3rd Party Payments provider (PlaidTM) does not support.

Want to learn more? Check out our detailed instructions on how your tenants can get started

Managing your External Bank Accounts just got a lot easier

We’ve added new functionality to help you manage your external bank accounts on Baselane. You will now be able to add multiple bank accounts from one banking institution. Sign in to your Banking and Cards page and add all the external accounts that you previously were unable to.

October 2022

New onboarding experience & streamlined rent collection setup​

We’re excited to announce the launch of our new onboarding experience and streamlined rent collection setup. Our new experience makes it easier and faster for you to get started with Baselane Banking, Rent Collection, and Bookkeeping, while also tracking your setup progress!

Getting Started Page

When you sign in, you will arrive at your new Getting Started page. Here you can take steps to start or continue your account setup. The Baselane dashboard (which will soon be getting a facelift) hasn’t changed, and you can still access it from the navigation bar by clicking “Dashboard”.

Streamlined Rent Collection Set Up

We’ve improved the rent collection setup process to make it easier to navigate and start collecting rent faster.

September 2022

4 new features to supercharge your bookkeeping and cash flow analytics

The team has been busy building new and improving existing features all summer to make managing your rental property finances easier. We are excited to share a few updates on bookkeeping and our new reporting feature.

More powerful Cash flow analytics

We’ve made our cash flow analytics more powerful and dynamic. You will now see new filters, a breakdown by category, the ability to drill down into specific categories, and see transactions below to match.

Enhanced transaction filter to make bookkeeping a breeze

We have improved our filters on the Transactions page to give you more control and flexibility. You can now search by transaction date, transaction category, property, bank account, and any text field.

Ability to manually mark rent invoices as paid

Sometimes you collect rent outside of Baselane and need to update a rent invoice to reflect the manual collection. You can now manually mark a rent invoice as paid. On the Rent Collection page, open the three-dot menu and click on Invoices. Click on any unpaid invoice and select Mark as Paid.

Simplified individual (sole proprietor) banking account opening

Most of you use multiple bank accounts to manage your rental property finances. As a result, we wanted to make opening a banking account as simple and quick as possible. We have redesigned our banking account opening process for individuals (sole proprietors) to do just that. We will soon extend the same simplicity to banking accounts for LLCs, Corporations, and Partnerships.