No, you do not have to open a Azibo bank account to collect rent. You can link any existing bank account to the platform to collect rent. Each property can have it's own designated rent/deposit receiving account. There is no limit to the number of bank accounts you can link to the platform!
But using a free Azibo bank account has many benefits, including
- Online bill pay
- Vendor pay (send money to people)
- FDIC-insured checking account
- Earn 0.15% APY - 3.75X the national average checking interest rate
- No monthly or transaction fees
- Unlimited monthly transactions
- Free ACH payments
Whether you open a Azibo bank account or you link an existing bank account, you are able to view and categorize your transactions according to schedule E tax categories. You can also assign transactions and income to specific properties making for easy tax preparation. You can link as many bank accounts as you’d like or just one.