Airbnb Lesson 4: Airbnb Payout Method
Airbnb Payout Method should not be confused with Airbnb Payment Method--where only Paypal, Credit cards or Debit cards with the Visa or Mastercard logo are accepted.
Airbnb Payout Method are ways for the host to receive their payments from guest via the Airbnb system.
Airbnb Payment Method, on the other hand, are ways for the guest to pay for their booking and reservations.
Back in 2010, when Ebay reigns supreme in online selling, sellers need Paypal to accept credit card payments from buyers. It's an extra layer of convenience that comes with a hefty price.
Thank God for Airbnb Direct Deposit Payments!
They still cater to Paypal accounts, but you DON'T need them to receive your payment. If you have an existing bank account--savings or current; ATM or passbook--just input the details and you're done.
1. Name
It must be exactly the same with your bank
account name. If you have middle initial
on your bank account name, then add that.
2. Account Number
Not the card number of your ATM card, but
the account number you use to deposit money to your account.
3. SWIFT Code
This is the international standard code that
each bank is assigned with. It allows
wire transfer of funds from one bank to another. Go here for the complete list of SWIFT code for
Philippine banks.
From different forums and based on experience, the best bank to use for Airbnb Payout Method is thru BPI, followed by BDO. Yes, with all its glitches, BPI is still your best companion.
· How long does it take for BPI to credit my payment?
First, you’ll receive an email notice from Airbnb that they’ve process
the transfer of payment. Airbnb does this
1 day after your guest’ check in date.
Expect your payment to be credited to your BPI account on the next day,
if the transfer was done on a weekday.
If weekends or holidays, it would take about 2 banking days, or after
their 10 PM cut-off of the 1st banking day.
Example, Airbnb transfers the payment on a Saturday and Monday is not a
holiday. You’ll see your payment on your
BPI account after 10 PM, Monday.
· Are there additional charges involved?
Nope. Nada. None. Zero. Zilch.
BPI doesn’t take a cut from your payment.
If Airbnb says they would transfer, P2001, then you’ll be credited with
P2001 on your account.
· What if my guest has a foreign issued credit card?
Airbnb
would quote your guest under their own currency. Your guests credit card, would ask them if
they wish to pay using their currency or your receiving currency which is
Peso. All the Forex activity is done
within the guest’s card or thru Airbnb.
You’ll still get the peso equivalent to the booking notice you’ve
received from Airbnb.
Do you know other payment methods that's hassle free and really free? Share it with us by commenting on this blog.
Update as of September 2017
Airbnb recently changed their policy. Now, new hosts would get paid 30 days after their initial confirmed reservation. If that reservation is more than 30 days away, then the hosts would get the payout email 24 hours after the check in date.
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