Rentflow enables you to create a secure PSD2 compliant connection with over 2500 financial institutions across 31 European countries.

Country list: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

When creating a connection with a bank you can specify in Rentflow the purpose of the connection (eg if its for only Rents or Deposits or other things), and associate the connection with specific Branches, Countries, Owners, Properties, and Contracts, which all helps to identify the bank account and narrow down transaction matching. Multiple bank accounts (in multiple currencies) can be added under one bank connection.

Rentflow provides further functionality to manage these bank connections such as editing the connections, disconnect them, extend their validility etc, so you are in full control. With Rentflow roles permissions you can determine who has access to this data.

Historical transactions can be imported (up to approx 540 days in the past, dependent on the exact bank).

Once the bank connection is established the (incoming) bank transactions will be imported into Rentflow automatically several times per day (the exact frequency can depend on the bank). Transactions can also be imported manually by clicking a button if required.

The imported transactions will be automatically matched within Rentflow. Rentflow provides a scoring system for the match and displays which data, and how well, its been matched on.

You can choose to set if these “strong“ matched transactions are automatically marked or manually marked.

Transactions can also be ignored (if they are not relevant).

Transactions can create multiple system payments (and Rentflow tracks the remainder balance).

Rentflow also handles automatic matching/marking of rental contract deposits too.

The result is that Rentflow can completely automate the tracking of incoming rent payments, which, compared to doing it manually, is more accurate, more up to date, saves time and works 24/7.

Based on any late payments, Rentflow automatically sends tenants a message to chase them up (see separate article about Rentflow’s automated messaging).