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

[David62]

Hi there,

I received also a request from Exchange4Free and asking for details for SARS for mandate (once a year) before payment could be received.  This is a first - normally I get a message from both AirBNB and my bank that payment has been made and I need to contact my bank to give clearance for international payment.

Unfortunately I completed this mandate form and now am worry that I shared my personal details with a frudulent company.

I phoned AirBNB in the US, and got re-directed to another company calls PayONAir (or something similar) and they informared me (after almost 15mins on the phone to the US!) that this is a fraudulent company and not to share this any information with them.

Unfortunately too late for me.

So advice to any other hosts receiving this email - please dont share any information.

A request - to anyone who received any further information from AirBNB to clarify - why is this happening and why were we not informed when they realise this is a potential fraudulent activity going on targeting AirBNB hosts?

And worst of all, I'm still waiting for my last payment and now worries that this has been intercepted by this fraudulent company?

Can anyone please help?

Regards

David

[Ruan0]

I contacted @Airbnbhelp via twitter.

They confirmed that Exchange4free is legit.

Filled out the mandate this morning, received full payment this eve, with no extra costs like some other people claim to be paying.

[Mike--Leonora-and-Samant0]

I have finally had an answer from AirBnB, Payoneer and Exchange4Free and I am advised it is legit. I have filled out the mandate now and will advise when I receive the funds.

Good luck to all.

Cheers

Mike

[Mike--Leonora-and-Samant0]

Just to finish off the topic, funds arrived same day with no deductions.

Cheers

Mike

[Sune0]

hi @Mike--Leonora-and-Samant0. Glad to hear you've received your money! Did you just complete the form and submitted it to Exchange4Free?

[Mike--Leonora-and-Samant0]

Hi Sune,

I just completed the form and did not touch my setting in AirBnB. I got an acknowledgement and payment was made later the same day....phew!!!!!!

All legit!

Cheers
Mike

[Mike--Leonora-and-Samant0]

Oh and by the way, the mandate is already partially filled out, I did not change any of the completed fields we just filled in the blank spaces... If we had all been notified prior to this happening and given an explanation it is in fact idiot proof...but we weren't, so that just made it difficult.

[Shirley55]

Hi Ruan, please help.

I am in Somerset West and have recently started hosting. I have set up PayPal to get paid. What are the next steps as I cannot link my South African account to PayPa

[Marianne-and-Roger0]

Hi David i'm also still waiting for the last payout.I added my payout preference (sa reserve bank option). I have however not completed the mandate as requested by exchange4free. I don't understand how some hosts received their payout through this new method?
Hope this issue will be resolved very soon. Marianne

[Lizzie]

Hello @Andrew52,

Thanks for letting me know, I am really pleased to hear you have this sorted now. 

I understand an email was sent out to all hosts relating to this, sorry to hear you didn't receive any notification, I will let my colleagues know. Could it have been that it has ended up in your spam filter? I will also pass on your feedback. 

Either way I am glad it is all sorted. Would you mind explaining further about how the process works to other host here in this thread? I am sure it would be a huge help. 🙂

Thanks so much,

Lizzie

[Jessica-Hannah0]

Hi There,

I am still not clear on if Exchange4free is legit or not? 

Can someone please answer with a yes or a no?

I have unfortunately already filled out the form, so if Exchange4free is a fraudulent company, then what is there to do about it and how are we protected in this case? 

I haven't  received my funds yet, but they should arrive on the 28th. I am praying that this will not effect the transaction.

I am praying that this will not effect the transaction.

Please can AirBNB post an actual alert or comprehensive explanation as to what this is all about?!

Kind Regards,

Jessica

[Petra202]

Hi Jessica

After completing the Exchange4Free mandate attached to their email.  Did you receive your Airbnb payment OK?  Do you now think Exchange4Free is legit?

Petra

[Petra202]

Hi There. 

I have recently received an email from Exchange4free stating that they are unable to pay over my Airbnb booking money until I open an attachment and sign the reporting mandate for 2018 for South African Reserve Bank.  I am too nervous to do this as I am afraid of Phishing.  I therefore, have not received my payment from Airbnb!!!  Hugely frustrating!  Andrew, did you come right with Airbnb and resolve the same issue?  How did you resolve it? Petra

[Alison27]

did you get any clarity as i have exchange4free asking me to fill in forms etc and i dont know about this change

i need clarity as the payout is due thanks

[Michael183]

Hi there

I am a real estate agent in Cape Town and have used the services of Exchange4Free on a regular basis, they have the licence to operate in SA. You can contact them https://exchange4free.co.za/

They offer free money transfers into and out of SA.

Regards, Michael