New host queries regarding payment

[Rukshan2]

I set up a new account only recently to start as a host. About a day after I set everything up including my bank details for the payouts, I had my first request from a guest. I accepted two nights but after 24 hours of him checking in, I'm still waiting to receive the payment from this. I've included my bank account to  receive the payment and it still says "checking" underneath. I thought my bank gets approved fairly quickly so I should be seeing "processing" by now. Have I done something or is this usually how long it takes. I have two pending transactions from two guests who are staying so at least it's there and I am getting paid but not sure why the delay.. 

[Sarah977]

@Rukshan2  Yes, it should be a straightforward bank transfer, but it isn't. Airbnb uses 3rd party processing for payments.  It usually takes about 5 days after Airbnb says my payment has been released for it to appear in my bank account.

Also be aware that Airbnb software is glitchy. I often see "processing" on a transaction, days after it has, in fact, appeared in my bank account.

[Mike-And-Jane0]

@Rukshan2 In the UK with our allegedly efficient banking system we usually get the money into our account on a Thursday for guests who check in on a Saturday.

[Rukshan2]

@Mike-And-Jane0 thanks. So hopefully later this week. Hosting for the first time so learning the process

[Rukshan2]

@Mike-And-Jane0 also Mike just realised I have to declare all earnings through Airbnb to the tax man? I'm assuming everything is taxed obviously?

[Michelle53]

@Rukshan2   The transfer method used under Bank Transfer is ACH. That is not instant, the way a wire transfer is. It can take several business days.  ACH is a batch processing system where transactions are grouped together and processed a few times a day. 

I've been receiving bank transfers since I started with Airbnb. My payment notification for a stay starting Aug 30th was received on email on Aug 31st, and my deposit hit the bank on Sep 2nd.

[Mike-And-Jane0]

@Philister0 Do you get payments into your bank account within 24 hours of check in?

[Philister0]

Hello!  yes within 24 to 48 hrs Of checking in depending on your bank the money should be in your bank account. I use PayPal for my transfer.

[Mike-And-Jane0]

@Philister0 I have heard that PayPal is much quicker than having the money paid directly into your account. Anyone know why this is? Also how does it work with Paypal? Surely there must be a commission to be paid somewhere by someone???

[Lee3945]

To get paid in a reasonable length of time - ensure that your preferred method of payment is selected as DEFAULT from the pull down menu.  Stupid I know - especially if you only have one method of payment but it must be set as default.