Payout Change - South Africa - Exchange4Free

[Andrew52]

Hi Everyone,

I've seen a couple of posts on this issue but they are contradictory so just asking again in hopes of getting some clarity.

After receiving notification from AirBnB of a recent payout I received an email from Exchange4Free requesting that I complete a mandate. This is the first time I have ever heard of them and AirBnB have not made me aware that there would be any change in the payout process. Furthermore, there are no entries in the help database addressing this change.

Is this a legitimate request from Exchange4Free?

Lastly, it's one thing to make the mistake of forgetting to inform hosts of this change, but it's highly unprofessional to fail to fix the mistake by eaither emailing South African hosts after the fact or at the very least make a post in the help database to clarify the situation.

Hope I get get some clarity - thanks!

Andrew

[Menno-and-Janneke0]

Have just been through my 1st booking with Airbnb. I have read through 5 pages of this thread & experienced exactly what everyone else has. Airbnb has been of little use and copy and paste the same old "support" advice about changing password etc. No confirmation of exchange4free being either a scam or legit. According to Christine Da Silva whom I spoke to (number in one of the previous threads) it's all legit and relating to reserve bank tracking etc, etc. We'll see. Exchange4free sound really unprofessional and she confirmed this too. Pathetic for Airbnd not to inform users of this.

[Ross4]

I posted a reply to this. I hope you received it.

Ross ****

[Ross4]

Yes it is legit. Totally get where you are coming from. Christine is very reliable. Airbnb do not seem to be aware of the number of scams that flood the system. You are quite right to be cautious.

All best

Ross ****

[Lizzie]

Hello @Ross4,

Lovely to meet you. My name is Lizzie and I am the Community Manager here.

As you can see this question regarding the reliability of Exchange4Free has been asked here in the Community Center quite a lot, do you or does anyone else have any thoughts on how this could be displayed or conveyed better for hosts in South Africa? 

It would be great to hear from you.

Thanks,
Lizzie

[Chris660]

Hallo Lizzie,

You could start by directly confirming "yes, E4F is real" or "no, it's a scam" to everyone here...

I just read through all 5pages of comments and still couldn't find a clear yes or no  😞

Kind regards,

Chris

[Moira59]

Hi. I have received the same alarming message from airbnb - that I will receive no payment until I have completed a form from this company. At first I thought they must be crazy to think I would fall for this scam. I get regular dodgy online tricks to get money, which I ignore. But when I realised I really am not going to get paid I took the risk of sending the form, only to have it bounce back for no apparent reason. Who is this company? Does airbnb know about them? Why haven't airbnb informed hosts of this requirement? Finally, if it is for real why does it not work? 

[Megan378]

I received a message from Airbnb dated 29 Dec warning that Exchange4 Free would be asking me to complete a mandate form online (as I did last year). Maybe have a look at your spam or trash folder and see if the email is there. Exchange4Free is legit as far as I can see. Try clicking the link again and completing again too. The first couple of times I clicked the link it didn't work, but third time was successful. Hope this helps to resolve the issue.

[Diane-Brand0]

Hi Andrew et al, we've had the same request from Exchange4Free to sign their mandate etc etc. We contacted Air BnB and received the following reply:

From: Airbnb Plus [mailto:airbnbplus@airbnb.com]
Sent: 05 February 2019 14:18
Subject: RE: Payment Enquiry | Exchange4Free

Airbnb Plus are unfortunately unable to assist with matters of this nature.

Please contact customer support team with this issue.

Thank you,

The Airbnb Plus team

[Ross4]

It is such a pity that this matter has gone around and around for the past 2 years. I think that this is a result of the algorithm not being sensitive to the request. Don't think you are writing to a human!!!  I am one and I can say that the company you are writing about is perfectly legit and is the way in which the  Internal Revenue makes sure that you pay tax on your earnings from Airbnb. Hope that helps. I have had no trouble with this arrangement at all.

[Reta1]

Hi Ross, I just wrote Andrew a message as I was very worried about the mandate signing.  How long after you signed the mandate did you receive your money?

[Brendan115]

Hi Diane

I just completed the info after speaking to UK Airbnb number. I sent the customer service agent at AIRBNB the email screenshot and he confirms all is ok.

Now I guess, I wait 🙂

[Reta1]

Hi Andrew, I am new in the business and have read your comments regarding Exchange4Free - what has transpired in the meantime?  I see you added these comments in 2016 - I would like to know how you sorted it out?  Also, did you sign the mandate with Exchange4Free - otherwise how did you get your money into your SA bank account?  Please help as I am so worried that my monies are going to get stolen

[Brendan115]

Same here... I have received the email from exchange4free and I want to know if it is safe to complete the info requested.

[Ross4]

I have used Exchange4free since it was introduced and it is entirely legitimate. It is used by the revenue services to monitor your income for tax purposes. I was suspicious at first and you have every right to be careful because we lack an official Airbnb presence in South Africa and have to rely on the customer service from overseas. As a result, Airbnb's lines of communication can sometimes be a little fuzzy. The customer service number is 0875503924. I have found them very efficient and I think they will confirm what I have told you. All best Ross

[Fiore8]

South Africa has restrictions on bank transfers from abroad. In order for South African hosts to receive funds in their local currency (ZAR) without fees, account owners are required to complete an annual reporting form for the South African Reserve Bank. Our third-party payment processor, Payoneer, partners with a local company called Exchange4free for you to complete the required form.

At the beginning of the calendar year, or after your first payout to a new Payoneer Bank Transfer payout method, Exchange4Free will email you this annual reporting form. Once the form has been completed, Exchange4free will process your form and notify the South African Reserve Bank and Payoneer. If your payout is released before the form is completed Payoneer may not be able to process the payout and the funds will be returned to Airbnb.

We encourage you to complete the form as soon as possible in order to prevent any delays with your Airbnb payouts. The form is valid for one calendar year, so you’ll need to complete a new one each year.

If you have questions about the form, contact Payoneer or Exchange4Free directly:

• Payoneer: globalbanktransfers@payoneer.com or +1-646-666-4020
• Exchange4Free: reporting@exchange4free.co.za or +27-11-453-7818