Time for faster payments from airbnb?

[Carolyn14]

When you set up a payout method of bank transfer, you are advised it will take 4-7 days. I find they take 3 working days normally. I'm still astounded in this day of technology that payments take so long....they should be nearly instantaneous and even on weekends and holidays. My theory has been for a long time that this is just banks (and now airbnb) putting money on the short term money market to earn more. There's no excuse now for the time delay. So last night I set up a couple of new accounts for payout methods. Guess what....the $0.01 transfer is my accounts today. Less than 24 hours. Airbnb have had our money from the time of booking confirmation ad will be earning them interest and income in that time. I'd like payment within 1 working day of the booking commencement, What do you think?

[Robin4]

@Carolyn14

Sure, you are right but you are trying to buck the banking industry here and it is never going to happen. The delay stems back to the days when banking staff had to manually satisfy themselves that a cheque that had been issued was indeed genuine and the funds were available to honour that cheque.

Obviously these days funds are transfered instantly....if they are not available, the transfer is automatically rejected, same as your card if you have insifficient funds in your account....The purchase does not take place, and for there to be a delay time of anything up to 6 or 7 days is completely stupid and indefensible!

But that is simply the way the banking industry works, and there are billions of dollars to be made collectively by the industry continuing with this idiotic and time honoured system.

What is needed is governments to step up to the plate and withdraw banking licences from those institutions that wish to continue with this charade....but Carolyn, it's never going to happen! Just accept that this is the way the system works and get on with hosting!

Cheers.....Rob

[Janet161]

I agree, airbnb are making a ton of money on the float!  I had a guest check in Fri. May 19th, & JUST NOW on Tues. 23rd, I have a pending in my checking account.  I won't have access to that money until Weds. 24th, don't you think six days is a long time to wait???  Meanwhile airbnb has had our guests money for awhile, sometimes a LONG time.  

[Carolyn14]

Rob I totally understand what you are sayin, but how is it that I et my $0.01 within 24 hours of airbnb sendin it? (Sorry the letter after 'f'on my keyboard isn't workin :-))  Why is is any different for our host payouts?  Why aren't I then also receiven them next workin day after they are sent?