Canadian gets paid in US funds - BAD

[Linda-Cantner0]

I'm Canadian, my property is in Canada, my bank is Canadian but yet I get paid out from Airbnb in US funds.  I have called the help center on this issue. I want to get paid in Canadian funds which is the currency most of my client's pay in:

The problems are:

1. I get paid in US funds and pay the exchange rate 2 times. First, if you are show Canadian funds setting (and if you are like me my guests are mostly Canadian and want to pay in Canadian funds, your guest will be charged then in Canadian, so the invoice from Airbnb shows Canadian dollars but upon payout, you will pay the exchange rate on it + fees on Airbnb changing the currency to their US dollars and then once you receive,  you will pay the exchange rate back again to put it into your Canadian RBC bank account.  

2. If you go into, HELP, and search Currency payouts, select the question: Can I select the payout currency? The answer says no, you can not change currency, it is based on your account address (mine is in Canada), however they keep paying out in US dollars.  I have called Airbnb  on this issue as when I look at my payout amount, it shows in one case $1649 CDN however, I got paid $1217 US and then to put that into my Canadian bank account, the exchanged value has reduced to $1496.12. So payout goes in CDN from $1649 to $1496.12, over $150 has disappeared as the bank rate always over compensates to hedge the rate.  So help section is not true and the phone line people have told me a) they will change it - DID NOT b) that they are a US company and pay in US funds c) told me it's my bank - but when I show them clearly on their website all the transactions in  the payout section/what guests pay section/ the section on payout invoice that they are paying me in US funds they then  c) will turn it over to banking who haven't answered.  

Has a Canadian on this site ever been successful in getting paid out in Canadian funds from Airbnb??  I also list with another US company and my clients get charged the currency amount depending on the site/country they are in.  No matter the currency or country this company pays my what my invoice says I will get and in Canadian dollars.  HELP!!

[Nicolas651]

Hi Chris and Linda, and anyone else having CURRENCY EXCHANGE RATES issues when receiving payouts.

I've had the same problem in the past: Setting up payouts in CAD and receiving USD which was converted twice. Then opened up a USD bank account but Airbnb wasn't able to wire the payments to that account either. So, I couldn't find a workround a couple of years ago.

Now I'm wondering if this has changed? 

I see new options in the payout preferences including: 

Paypal in CAD

Paypal in USD

Bank Transfer in CAD

Payoneer prepaid card in USD

I'm wondering if any of the above helps reduce the loss on currencty conversion? 

There should be a clear Troublshooting or documentation on how each payout system works.

And AirBnB policy on currencty conversion fees or spread should be CLEARLY STATED somewhere. (I couldn't find it)

[Ava765]

I started hosting YESTERDAY, so I am totally new to the whole system, but I think there is an issue here. I got two bookings within 2 hours of posting it, and I still didn't decide how I will get paid. 

I think the host should have more choices in receiving the payment. Personally I would prefer the money to be directly deposited to my USD account which I have in a Canadian bank, to avoid paying exchange rate twice, on the way in and on the way out.

I actually reported the issue as a "bug" of the system, so I hope this will take a different path, than just a mere suggestion for improvement.

Please let me know, more about your experiences in payouts.

[Raubia0]

Can you have them do the payout to PayPal in USD and then transfer it to your USD account with the Canadian bank?