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1
Chathuri Arachchi
seeking advice

Can someone help me understand?

I am new on booking.com and i have got my first reservation. My payment collection method from guests are 'cash paid at property' and i have given them free cancellation if they cancel 14 days prior to arrival.

 

If by any chance, a guest cancels within 14 of arrival will i get my full reservation amount? The guest has not provided any credit card details to booking.com to deduct cash either. So im really confused as to how i will receive moeny 

Profile picture for user barry.reilly.winnov.net b
11
BrookAve 2 years ago

 

Hi Chathuri,

 

Logically it will be exactly as you think, i.e. you get nothing.

 

By default if you do not setup a payout method it defaults to , guests can book and you collect cost on arrival. That's literally all there is.

 

 

So at this point you need to decide who collects the payment, and when.

 

I tend to advise all new members to go with Payments by Booking, they deduct a commission and a % processing payment fee.

 

 

Is it worth the hassle-free to pay the <2% for BdC to do it all for you , in my opinion yes it most definitely is.

 

The only exception I can think of is, if you or staff are locally based and you have more than two rooms or units, then just do the VCC method [Virtual credit card] and guest CC method.

 

Requires you to pay BdC monthly their commission and have a PoS and virtual terminal PoS to take prepay and on arrival payments.

e.g. sumup.com ,payrexx.com etc.

 

Summary :

  • Enable payments by booking
  • Enter your IBAN Bank transfer info 
  • Set payout to bv checkout period (4 times a month) or Monthly on 15th
  • Set Policies - enable prepaid
  •  Set Rate Plans accordingly  -i.e. one or more non refundable for x nights, felxible optional but costs more with a penalty of a % if cancelled.
  • Set non refund cancel policy as you want , 100%, 50% etc.
  • Set Rate Plans for Nightly, a minimum  for the typically periods, Nightly, 3 Nights, 5, 7 etc..

 

At the end of the day there are clever ways to entice potential guests using Genius membership and promotions.. but remember most of these stack soo don't set your base proce for nightly too low.

 

Consider low peak days for promotions of 3 for 2 etc. be clever about it.

 

 

Kind Regards

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