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.

[Christine455]

Daniela, thanks so much for joining this discussion.

Could you please elaborate on the APR as well as the contract clauses making us liable for all sort of fees?

Kristen posted above:

"... Also, there is a section called "Reimbursement Expenses" where they say "Seller" (you/me) shall pay all costs and expenses incurred by "Purchaser" (them) .... all filing fees, filing taxes or search fees, wire transfer fees, ACH fees UCC filing and search fees..."

Why would I want to sign this contract?

Thanks!

[Vince-and-Jeff0]

I applied for PAYFULLY FOR AN ADVANCE WHEN BOTH MY WHOLE HOUSE AIRCONDITIONG AND WATER HEATER FAILED WITHIN A DAY OF EACH OTHER instead of borrowing money for the repairs – BIG MISTAKE. I had set up an account and for a few days I kept getting REVIEWING CASE and I would hear from them in 48 Hours, SO I waited, and I waited, and I waited and three dayts later I started to Chat up JON, he got that fixed. Suddenly I had an offer for $1500 available so I applied for $900 from 2 reservations. once again I was getting CASE BEING REVIEWED. So I chatted with JON again and he assured me the REVIEW would drop off by 4PM EST and I would have the funds the next day (Wed). So I waited and at 6PM I was still getting CASE BEING reviewed on my LOAN OFFERS. So I chat up Jon Again and he said I missed the 3PM Deadline and it would drop off at 3Pm the next day and I would have my funds on Thur at the latest. So on Thurs I get a call from PAY FULLY asking me to send them MY ID ??? You have my BANK ACCOUNT INFOMATION AND YOU WANT A COPY OF MY ID? FOR REAL? 2 Broken PROMISES and I am suppose to trust you with my bank account information and a photo ID. Why don't you just ask me to sign a blank check and send it to you? I am so sorry I ever heard of this STARTUP. I am out of time and just made other arrangements to pay for the repairs that would have been done DAYS ago after PROMISES from PAY FULLY. I had a guest stay last night and had to do a PARTAIL REFUND because there was no AIRCONDITIONING. I had an entire week to get my problem fixed and let PAY FULLY STRUNG ME ALONG to the point that I had no time left. I WAS LIED TO NOT ONCE BUT TWICE – broken promises and no money for needed emergency repairs.

[Tamara202]

Payfully is unregistered with Georgia Secteyary of State and the Georgia Department of Banking and Finance. They violate the terms is the Factoring Agreement because they have you sign it first and then evaluate whether you fit the lending criteria. Then they deny you...but no part of the ratified agreement spells out those terms or requirements. So they breach the contract.

[Christine455]

Thanks for the info, Rick.  

" In regards to their fee, if you do the math it's pretty low given that other short term lenders charges fees much higher than this."

Could you please elaborate on what you consider "low"?   I'd be really interested in the APR.  Is that disclosed anywhere?

But even if they charged nothing, I still would not sign a contract making ME liable for all sorts of fees.

[Kristen38]

Christine, 

There's no APR with these companies' loans, it's a flat fee. But low APR is about 3-5% (to answer your question).

[Christine455]

Thanks, Kristen, how did you calculate that?

[Christine455]

Hi Rick, appreciate your info.   Re. "In regards to their fee, if you do the math it's pretty low given that other short term lenders charges fees much higher than this." 

I've already asked several other hosts who claimed that the fees are low, but nobody has responded to my question regarding the calculations.

I'm NOT an idiot, could calculate it myself, but I don't know what they charge!

If you did do the calculations, would you be so kind and share?

[Fred-R0]

Thanks Rick for taking the time to put your opinion. I am glad you had a good experience with them.

[Natalia130]

I've never left a comment on these boards but felt compelled to after reading these reviews.

My experience with Payfully has been great. The site is simple and easy to use. When I had a problem, Jon from customer service quickly replied (on a Sunday) and was most helpful. I would definitely use them again......

[Marie138]

what is playfully, and how does it work please. been hosting for a year but still learning the ropes.

thanks 

[Lucia207]

My name is Lucia I have been an Airbnb host for more than 3 years, and my profile has more than 140 reviews now.

I recently moved to the U.S. where I opened an American Bank account and I found out about Payfully! I have been using it for three months now and I find it EXTREMELY USEFUL FOR HOSTS LIKE ME!

It is basically a service which advance you the money of your future reservations, consenting you to face all the expenses you have prior the guests’ arrival. THIS IS SIMPLY AMAZING!

The application process is pretty easy and fast, of course you have to be qualified in order to receive the advanced money but if you are a trustful host and have some positive reviews that can confirm it you will not have problems to be accepted.
I have recently advanced about a thousand dollars that I'm using to do some maintenance in my apartments in order to give the best service to my guests this summer, and that means a growth in positive FEEDBACKS and FUTURE RESERVATIONS.

I would have not been able to do so without Payfully!

I had to use the customer service one time and in my case was responsive and they solved my issue immediately.
I have recommended this service to every Host I know.

[Christine455]

Thanks for the info, Lucia.   Have you done a cost analysis, comparing the fees to the interest on credit cards or other loans?

[Thomas421]

Hi,

Please can you let me know how much is the payfully fee?

Thanks,

Reagrds,

Thomas

[Christine455]

Lucia, could you please post the APR for the money you received?

Thanks so much in advance, asked many people including you, never received an answer.

[Kristen38]

And btw, yes I used Payfully and would never use it again, it's too scary to let someone take the entire airbnb payment from you when you have bills to pay. Like I said in my reply to Christine, Clearbanc is a new company that is being smart about not taking all your money from you at once and letting you still have some kind of paycheck from your bookings. 

Krsiten