Whenever I transfer funds from my investment account to my checking account, I have access the next business day. Not so with Airbnb. Airbnb does a good job of “playing the float”. Even though they say they will pay hosts the day after the guests arrive, it usually takes several business days to actually receive the money in your account. Airbnb is making a fortune by holding hosts money and investing them for an extra 24-48 hours before release. Most of the times my guests were long gone before I ever saw a penny of my money. I cannot even begin to imagine how much of the hosts’ money Airbnb gets to play with by behaving this way. So yeah, hosts, you’re not only paying Airbnb for the “honor” of doing business with them, you’re also acting as uncompensated lender giving them an interest free loan. One host doesn’t amount to much, but think about hundreds of thousands of hosts acting as “Bank Airbnb”.
Time for a class action lawsuit against this BS from Airbnb and bankers. They hold our money as long as possible to make extra interest off our money, then when you pay them they take extra time applying the money so as to accrue a little more interest. We need to hold these businesses to a higher standard!
I’ve had my first booking with airbnb October 20th 2017 it is now knows it November 30th 2017 and I still not have a payment hich now it’s been several bookings and in fact I have one for 4 days coming up today and I keep getting the runaround saying it’s they’re having a problem they’re waiting for authorization with what bank accounts I’ve heard a number of different stories including they hold for 30 days when your new then I was told that wasn’t true I’m just so frustrated I need help can anybody help me thank you
They charge guests the moment they place the reservation. There’s no reason for them not to pay out immediately, the day after the guest arrives.
I use my bank account, so there’s no PayPal excuse for me. They’re taking 5-7 days to pay, which is truly crazy.
I’ve been with Airbnb for 1-1/2 years & this is the first time I’ve had an issue with getting paid. My experience with customer service has been so frustrating that I will be pulling my listing after getting paid. Their customer service is a joke No fault of theirs but they are obviously there to pacify customers. I have been waiting for over a week for payment & have had to deal with daily bold faced lies and pacifism from CS. Airbnb is playing with our money & its BS. They initially blamed PayPal, claiming that they have released payment & the issue is on the paypal side. When I ask for a confirmation number to verify with PayPal I either don’t hear back (if emailing) or am told by the agent that they do not have access to that info. Only the payments team can tell me that. Guess what? You have no way of getting in touch with them. Such a shameful & dishonest way to treat your hosts Airbnb!
I am in the same predicament
2 payments were late for
7 days and I’ve 800 owing
Get run around they blamed PayPal
Rang and emailed every day
Told someone will ring back they don’t
Told a glitch in system will be fixed that night funny one payment same ghtough that night but still the other not paid
I know my PayPal is ok
Because the payment came through just one but the other one who knows?
I am sooooo frustrated have guest coming in a few days and feel that I wil be owed a lot more
We need the funds for the mortgage
They don’t care I get hung up on after being on hold for 30 minutes
What can I do who else can I complain to?
Btw, I used my PayPal account as a preferred method of payment, still no payout.
How long did it take for you to receive your payout after the guests have left?
I had the same experience with Airbnb with my listing. My guest has come and gone as well and my payment still reads pending payout. I’ve called the company 3x’s today and get a scripted response, “our technical team will be getting back to you.” Based on what I’ve read on this blog, I think the gentleman who mentioned that they’re holding back funds for profit, is correct! I’m so frustrated with my experience that I just removed my listing. I’ll never use them again, either to host or as a guest.
Going thru this right now with airbnb. Guess paid last Thursday on November 15th. Today is November 22nd. My airbnb account still says funds pending. This just isn’t $50 but over $500. its a long term stay. I have called airbnb 4 times and get nothing but a run around. on Thursday the 17th after a 4-5 minute wait I was told funds should transfer with 48 hours. I called again on Friday evening November 18th and again Monday November 21st. I am a granny of several small babies. This is or was to be my Christmas money for gifts. Its not looking so good. Guess I will have to explain some how that Santa missed us this year. Can’t anyone help. This is very upsetting not to mention worrysome. I seriously think things like this could set off my pacemaker. just the worry of not having Christmas for my little grandbabies.
where did you find a phone number??
1-415-800-5959
they are doing same thing to me at same time. October to November 2016. still trying to collect today – on hold for 11 minutes for the call to be dropped…….
I have seen this same scheme in many places. The obvious ones like the lotto. You either pay them half your winnings to cash out, or they get to pay you with the interest payments and keep the entire winnings in the end if you take the payment option.
But the sneaky ones are like you point out with abnb. I used to be a carrier on uShip. They collect the payments from customers sometimes months before you get paid, then when you do get paid they charge you a transaction fee to send your money and send it to a prepaid card of theirs that they charge you every time you use it. This is after taking 20% from the carrier and 15% from the customer off the top.
Also, in college my school used to receive my student funds and had a policy to pay out any refunds 30 days after receiving them. This was before the DOE laws that mandate 14 days now.
But the worst is when I had a customer wanting to pay me through paypal. I signed up for an account just for this single $3,200 transaction, only for paypal to hold the funds for 45 days before releasing to me.
I only accept cash or check in person, or credit card through intuit now. Cash is cash, my bank has instant mobile deposit so checks are good and so far intuit has sent the money to my bank in 24 hours every time I use them.
I stopped using online services and setup booking on my own website and boom the business with happy customers and word of mouth. Who needs all these services that only sit there and cut half our profits away? Lets get back to being traditional businesses and do things ourselves and thrive on the basis on solid customer service.
Also VRBO has the $5000 blanket property damage protection plan that the guest only has to pay $99 for it. This way you do not even have to charge a deposit. Insurance that the guest paid for seems to have more of a likely hood of being honored then the $1,000,000 coverage that I hear is bogus anyway.
You know what I like about VRBO, amoungst other things the guest pays you directly. Well, I do not know how it works with the type of account where you pay 10% commission, but I paid $1000 up front and they guest pays me directly. I do not have to deal with airbnb holding my money and then releasing it when they want to release it. Also, on VRBO if lets say for example, someone did not read your listing and then gave you a 4 star rating instead of a 5 star rating, and you point out that something they complained about was clarified in your listing. Then they have the option of changing their rating to a 5. On airbnb you have all these people meddling in it who will not change it even if the person admits they were mistaken. I had one guy on VRBO who told me he did not want us to hook up the TV and Wifi because he wanted the family to be disconnected. It was a new listing out in the desert and when we were kids we went there to water ski not watch TV and there was no internet then. So, anyway our listing stated that we did not have TV and internet there, but we would get it if someone asked for it. The guy who booked the place said no internet, and no TV so we left it as is. I
require everyone in the party to provide IDs because I feel after what I have been through with airbnb that I am the one to best protect myself because airbnb does not have your back and the criminals can still rent your place because they do not check all of the persons in the parties ID and if something happens, for example the person attempts extortion, airbnb will not reveal the ID of the criminal to you, so if you need to go to the police they will have to go to airbnb because you have to tell the police you do not even know who you let in your home because airbnb’s verification process is bogus.
So, back to the point. I asked everyone in this guys party for a review because he gave us a stellar review, but one person only gave us 4 stars because the TV was not hooked up to cable. However, everything else he said was really nice. So, I contacted the guy and told him that his friend did not want us to hook up the cable, and he was able to change his review. This would never happen on airbnb because you have to go through a bunch of control freaks who think you may have paid someone to change the review or something I guess.
Anyway, too much meddling by airbnb, and you do not really have the tools to protect yourself with them so you have to do it yourself. At least at VRBO, you have your own terms and your own contract, you get paid directly from the guest, your cancellation policy is on your contract and no one can mess with it. This is much better for me. Now, that I have experienced first hand that airbnb does not have your back which is the reason you are supposed to put your trust in them, I have been using VRBO and it has been much better.
Good to know. What is payoneer? I have never heard of it.
You can select paypal as a preferred payout option instead of bank transfer. With the paypal option you get the money within a few hours. You can then transfer to your account and have the money the same day.
I am an accountant, and former treasure assistant for many cities in the Inland Empire, I had to send many payments with a ACH transfers, The rule for ACH is simple, it will be in the persons account the next day morning, if you make the transfer/ authorization the prior day, before 2 pm if you are pacific time, if you are in NY you can make until 5 pm, or 4.59 and the person will received next day.
I had many vendors that need their many on Friday, so I prepared the ACH report on Wednesdays for approvals, and transferred, Thursday before 2 PM. Every time, the vendor got paid on Time. AIRBNB is lying, to the hosts I am very up set, i have bills to pay, if they are paid late, will affect my credit report. They used to be ok, all the time next day payment. Now if it is a small amount, i receive the money next day, if the guests stays one Month, they take very long to send the money, and they train the client service staff to lie, and say, it is your bank.
I agree. If you have your money put into your bank account by ACH transfer it takes 3 – 5 business days. If you have your money put on their payoneer debt card it is instant. That’s great but not great for accounting purposes and you can’t really pay your utilities with a debt card. When I wire money it is there within a day. Why does it take so long to deposit money into a bank account? I think they are making money on the debt card and thus encouraging us to use that.
I pay my utilities with my debit card all the time……not sure where you get that idea from.