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How does most booking.com Hosts receive payment? Cash? Bank Transfer? I currently only accept Cash as I would need a Company to get a Credit Card.
It is depending on what PMS you are using. Not sure if you are a hotel, b&b or home rental tho, but if you use a PMS. Most of the PMSs can have a payment system integrated as well.
I don't have credit card facilities, I ask guests to pay by internet banking. Only trouble is it takes a couple of days for funds to appear. Weirdly the only option when setting up my account with Booking.com was to select 'cash'?! Only once has a guests paid in actual hard earned cash.
The tricky thing is re: no shows as if I haven't received payment then I can't keep the money I don't have in accordance with my cancellation policy.
I just posted under the heading 'payments by booking.com' asking for pros and cons of setting up this option. I ask because I fear guests may be reluctant to pay up front and don't want to lose potential bookings.
Totally agree with Karlad. no shows are killers in absence of card facility.
Booking.com has taking payment themselves and then pass on to host after 1 month. You have to deal yourself with deposit and any extras. In this case, at least your rent is guaranteed in your pocket.
This facility is not available everywhere. Worth giving them a call and discuss.
You can also ask the guest to pay in your bank/Paypal ....days before arrival. Keep this account separate for business transactions only.
You have to add in your policy for rent to be paid so many days(mine is 5 days) before arrival. It gives me time to cancel and get another guest if required. Its a hassle but helped me reducing no-shows /bogus bookings.
You will learn all the tricks with the passage of time.
Another method is to apply for the Payments by Booking.com and have them pay you via Virtual Cards, which you can process through certain gateways or POS.
However if you cannot process those, you can use a proxy, like us to process it for you. You get your money in 24 hours and it's a guaranteed payment from the guests if it falls under your policy. They cannot avoid not paying BDC (Booking.com) when they make the reservation.
Either way, move towards this type of payment, don't use cash only because you'll lose money on no-shows and cancellations. This way only the people who really want to stay will book.
If you have other questions, drop us a message via our website.
Zsolt - www.thuild.com
Well said Zsolt. You have described everything very nice and easy for us newbies to understand.Thanks again and have a pleasant day..
Hi All. I have read most of the comments and most apologize as I am still confused. If (for whatever reason) one does not have a Credit Card machine or PayPal or any other type of POS system - " Can Booking.com collect your payments and forward onto the Host - if you are in the Caribbean, namely Cayman Islands or Jamaica"?. Is Zsolt (www.thuild.com) saying that they can offer these Services as a Proxy? Please help. I am still on a Cash Payment basis and losing a lot from cancellations and No Shows?
I've replied to your e-mail in detail. You have all the information there specifically for your case.