Airbnb Payout

[Roger-And-Victoria0]

Hi everyone,

I have been an Airbnb host for about 2-years without any issues. Guest would check in and 24-hours later I would get an email from Airbnb stating my payment has been issued and it would be in my bank account by the end of business that day or by the morning. However, this August I noticed payments didn't were not arriving for between 5 and 7 days? Now I realise this is the time scales always generated but after getting payments within 24 hours for past 2 years I wondered why this was? Since then my payments reaching my account are different every time and never before 6 days? Does anyone else notice this inconvenient change? I am so angry with all the excuses they give and do not believe anything they say anymore

[Susan17]

@Roger-And-Victoria0 

Are your payouts now coming from either Citibank Ireland Financial Services, or Citibank Eire, as opposed to the previous payouts from Airbnb Payments UK? See the thread below... 

https://community.withairbnb.com/t5/Hosting/Very-slow-payouts/td-p/386055/page/3

[Roger-And-Victoria0]

When I was speaking to support they informed me that Airbnb had changed banks to City Bank recently and that they may be slow? I have no idea why the change would affect payments though

[Susan17]

@Roger-And-Victoria0 

Well, at least they told you that the hold-up is due to Citibank taking over as payment processor - most hosts who called in asking why they haven't received payouts, weren't even told that much! 

I've submitted a query to the Central Bank of Ireland, and one of the questions I've asked is why, in these days of instant electronic transfers, it would take so long for hosts to receive their payouts. I'll update when I receive a response. 

[Roger-And-Victoria0]

Thank you Susan. Why is Gods name did they change to this outfit that is clearly causing concern amongst its hosting community. The term if it aint broke don't fix it comes to mind. I can only imagine someone is making a lot of monry by holding onto our money

[Susan17]

There's a little bit more of an explanation in the thread I linked to above as to the probable reasons for the switch, @Roger-And-Victoria0 . Why they chose such a controversial outfit as Citibank as their partner processor - or why payouts are taking so much longer - is anyone's guess, though. But yes, it's guaranteed to be linked to substantial financial benefits for themselves. They don't give a sh*t how much later (or missing) payouts might inconvenience hosts, or even how much hardship it might cause for some. 

[Roger-And-Victoria0]

Support are not even answering my questions now. Just ignoring me

[Susan17]

Standard Airbnb practice, @Roger-And-Victoria0 . 

[Daniel885]

I was looking for answers to this and found this thread. Same experience as mentioned above. Up until just over a month ago, I would get payments within the hour of getting the "A payout was sent" email – sometimes immediately. Now it's taking 5-7 days, as I think it used to be for a little while when we started. They definitely changed the bank that issues payouts, but in fact, I can see the new bank is Morgan Stanley. 

It's not a financial issue for us, but it makes it much harder to keep track of payments coming in, as I have to keep an eye on my account sometimes days after guests have left!

Did anyone get any update?

[David3267]

no update

[Susan1028]

Follow the money trail...

Im in the US and things are taking longer.  Not as long as you folks, but about 2x longer than before.

Citibank/Morgan Stanley/and Airbnb are about making money from our money.  They’ve been spending billions on incentive campaigns to “get us to switch” in the US (even offering incentives of hundreds of dollars if we switch sums of more than 10K) in an effort to amass as much global capital as possible.  

The longer they hold onto our funds, the more they make/take (interest, investments, making loans, etc), and the more they make/take, the more control they can buy to influence policy that allows them to expand this via the politics of domestic and international finance...and so it goes...

More money = more control unless we find another way of doing business.

[Dee197]

Someone somewhere is holding onto the money which is unethical and worse, Airbnb informed me again today that it’s my bank processing holding it up which is blatantly misleading. I too have only had issues since Citibank Ireland. 

[Patricia2861]

ditto ditto & ditto. how bout a class action suit?