I personally use an online rent collection service. Its called rentpayment.com and I've found their service to be fantastic, but there certainly are others out there. Its a flat $9.95/month up to ten properties. My tenants love it, easy to use, free if they use their checking account, can set up repeating payments, and if they are short one month can use their debit/credit card for a fee. And I never set foot in a bank.