Payouts suspended as KYC for a South African Trust not recognised

Answered!
Daniel19
Level 2
Cape Town, South Africa

Payouts suspended as KYC for a South African Trust not recognised

I have been a superhost for over 9 years with mutiple listings and very high ratings. 

 

The properties are owned by my family trust and I am the trustee and my family is the beneficiary. My payouts were therefore going to my Trust account as this is the owner of the properties.

 

Airbnb does NOT have a trust option under account registration options. I was approached by what appears to be a BOT asking me questions about the trust, beneficial ownership and then asking a list of illogical questions. Its apparent Airbnb does not understand South African Trust Structures. The reseting of my account has now caused issues with the setteling bank as they have registered the reciever as being an individual but with a company name and so Bidvest will not accept this understandably.

 

I am desperate to resolve this. My payouts have stopped and no matter how many times I email and request assistance I am not able to speak to someone who can properly solve this.

 

Has anyone else experienced this? How did they solve it?

Top Answer
Glen846
Level 2
Cape Town, South Africa

I just wanted to update everyone on this thread about this issue as mine was resolved.

 

It took many many calls to airbnb support but eventually a competent support "ambassador" claimed that he knew exactly where to escalate my issue and that previous attempts had been unsuccessful because his colleagues escalated to the wrong department. He wouldn't give me a department name but said "specialised team that handles tax profiles".

 

They eventually got hold of me via a support message and said I needed to fill out their KYC form again for business. I explained that I'll do it but it will be incorrect as this isn't a company, it's a trust, bla bla bla.


Their response was "we know, but this is the only way our system can process it. So just give each trustee a % ownership". We have 3 trustees of which only one is an acting trustee so he got 50% and the other two got 25%. Two days later my payments came through and the issue was resolved.

 

Hopefully this means Airbnb have cottoned onto this particular issue and will handle it in this manner going forward.

 

I've been made to understand by other people who work with trusts that interact with online platforms that trusts are unpopular because their structures vary by jurisdiction compared to companies. So you have to have a special KYC protocol just for SA trusts if you're Airbnb, which is asking too much.

 

Hope this helps anyone reading with the same issue!

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16 Replies 16

This all feels like a bad dream! Airbnb could not be interested to try and help us! They say the point of all of this is so that they can prove we are not scamming people… how about Airbnb are scamming us?! I am owed over 2 months worth of accommodation payouts, and so much more upcoming payouts in December. I honestly don’t know where to turn!?? 

Gosh this is a long thread with same experiences - I thought I was incompetent but evidently we all are !!

This process is frustrating to the nth degree

 

 

Peter