Payfully Issues

[Julie131]

Just a head's up.  I don't know if you have gotten notice of this service or not.  But I feel I need to warn you.  

I applied for an advance with this company and they refused it on false pretenses.

a. They said I hadn't been an AirBNB host for more than three months. I've been hosting for over a year almost continuously.

b. They said I didn't sign the paperwork. I did sign the paperwork and have the emails proving I did.

c. They said my bank account was not the one used with AirBNB. It is. It's the only bank account I have.

d. They said my policies are "STRICT" and they are not.

Plus they do not provide a phone for you to reach out to them. Then when I tried to log on, it demanded I link my AirBNB account again, and then said it couldn't because it was linked to another account. I just cancelled and took away their access to my bank account. Just be aware. This is not what it seems.

[Cormac0]

@Christine

I'm glad you laid it out, those rates our extortionate and people need to be made aware of this.

In Europe you would be lucky to get 1% interest on deposit or in other words money should be cheap to borrow, that should also put it into perspective.

Regards

Cormac

The Explorer's Club Krakow III

[David126]

This is not complicated, most people I would have thought can do the numbers roughly in their head, and it is certainly not cheap, could be horrendously expensive.

I can only assume they prey on the desperate and/or the mathematically challenged.

[Austin38]

I see you two are still trying to tag-team "facts" which don't reflect reality

We'll let others decide for themselves if a one-time 5% fee is reasonable with NO INTEREST and NO HIDDEN FEES. 

I think the vast majority of people will disagree with you, and see through the shade you're throwing

¯\_(ツ)_/¯

[Clifford10]

Obvious ripoff just like the other ripoff artists who want to charge you $7 a night for insurance.

[Coco18]

I've had nothing but great experiences with Payfully. Been using them for a year. My rent is crazy expensive and I wouldn't have been able to stay here without the advances. Occasionally they glitch or take an extra day to get back to me, but for the most part I am very satisfied. I find the fees straight forward and very fair. 

[James620]

Oh they did the same to me. I have over $5000 in future bookings.  Been a AIRBNB member for 4 years had 2 rentals in that time period and they denied me no reason given.  My rating is through the roof! I am angry.  NO ONE SHOULD WASTE YOUR TIME.  Try CLEARBANC

[Austin37]

Hi James, 

I work with Payfully, and I'm sorry you found this experience frustrating. We take a lot of care in reviewing each Host completely and fairly. We look at a number of factors to determine who we work with, including cancellation rate, Airbnb profile, other outstanding loans or debts, and address/verification document match. 

Our decision not to accept you at this time was based in part on your cancellation rate. I'm sorry this wasn't well-communicated, and hope you can understand our decision. 

Thanks 

[David126]

Wow 14 I think cancellations, about half of your bookings?

I can see that would give someone second thoughts.

[Valerie238]

I tried clearbanc and it was quick and easy now they changed their policy so that I would need an LLC for the next round. I really don’t want to complicate things are there any other programs.

[Austin37]

Hi Valerie, 

Payfully overhauled their whole system last month, and it's much faster to go about signing up and requesting - can all be done in 5 to 10 mins. https://www.payfully.co/ 

[John159]

Hi Austin, I have close to 10k in upcoming bookings,I signed up for a payfully account & when I attempt to apply for an advance I’m told my limit has been reached.Hoow has my limit been reached when I never received anything? I’ve reached out to customer support and have yet to get a response.

[Austin37]

Hi John, I can't look up your account without an email or last name, but it sounds like you're trying to request payment for a booking above your current credit limit. It sounds like your limit should start higher than our default, so I'm sure one of our reps will respond to your inquiry soon, and raise your credit limit. You can see your limit about the Future Income section on your dashboard. https://imgur.com/GmRlwNK

[Mark-and-Kim0]

Ill use it and just bump up my price, DUH? 

The guests pay for everything, its their vacation not ours.

If your price is maxed out, thats your problem, not mine ir the guests.

[Christine455]

@Mark-and-Kim0, YOUR problem is that you don't seem to understand that ALL the money your guests pay would be YOUR money if you weren't gifting it to Payfully. 🙂

[Alison146]

Just FYI Clearbanc has drastically changed who they will give advances to 

This is a quote from a rep who I was asking about a new advance (I have had two, both were paid back within 2 months) 

"There have been changes made to some of our requirements & policies. 
Unfortunately, it looks like your business currently does not qualify for another advance. 

Our qualifications include having multiple operating listings with a minimum 6 months of recent consistent revenue history as well as future bookings for the next 60 days. The historical monthly revenues should be over $4,000, and your vacation rental business must also be incorporated." 

Wow. So yeah, they're not really working with the "little guy" anymore. Hopefully someone else will come along to take over their spot.