Setting up a prepayment policy
A prepayment policy allows you to charge guests for their reservations in advance. You can set up an automatic prepayment policy in the extranet if you accept credit cards, or your guests can pay via bank transfer.
If you're a new partner, there may be a temporary restriction on prepayments for your property.
What’s in this article:
Setting up a prepayment policy
If you accept credit cards, follow these steps to set up or update a prepayment policy:
- Log in to the extranet
- Under Property, click Policies
- Under Cancellation and prepayment policies, click Edit
- Update your existing policy or click Create new cancellation policy
- Click Save to finalise
Collecting unpaid prepayments
If you accept credit cards, but you're unable to charge a guest’s card, you can mark the credit card as invalid.
If you don’t accept credit cards, and a guest doesn’t pay via bank transfer, send us a message in the extranet or Pulse app. We'll contact your guest and offer them 24 hours to pay the deposit. You can cancel the reservation if they don’t pay within this period.
Collecting prepayments through Payments by Booking.com
If you've signed up for Payments by Booking.com, you can set up a prepayment policy using the instructions described in this article. However, we'll be responsible for collecting prepayments and charging your guests' credit cards according to the policy you have in place.
Guest Policies & Payments
- Allowing guests to book without credit card details
- Can I set up the same policies for all of my properties in one go?
- How can I set up the grace period?
- Managing my services charges
- Updating your internet, pets and parking policies
- Setting up or changing your property’s policies
- Setting up cancellation policies
- Do I supply guests with invoices?
- Accessing guests’ credit card details
- How can I set up pre-authorisation for guests’ credit cards?
- Everything you need to know about damage policy options
- Handling invalid credit cards
- How can I change my payment preferences and which credit cards I accept?
- Setting up a prepayment policy
- How do I handle guest payments?
- Everything you need to know about Strong Customer Authentication
- Can I charge credit card and/or payment fees on bookings I receive through Booking.com?
- Understanding the new cash payment feature in your Guest Payment Options
- Introducing payment services from Booking.com
- Payments: FAQs
- Understanding Payments by Booking.com
- How much Payments by Booking.com costs
- Everything you need to know about virtual credit cards
- Refunding virtual credit cards (VCCs)
- Understanding when your virtual credit cards are activated
- Card validation and fee collection solution
- Card validation and fee collection solution for connected partners
- US Payments Ranking Benefit: how extra visibility in search results works for US properties using Payments by Booking.com
- Booking Holdings Financial Services
- Activating and processing payments with Booking Holdings Financial Services
- Identifying and verifying yourself for Booking Holdings Financial Services
- Submitting a complaint about Booking Holdings Financial Services
- FAQ: Booking Holdings Financial Services
- Booking Holdings Financial Services Payments Agreement
- Booking Holdings Financial Services Privacy Statement
- Payments FAQs for property management companies in the US and Canada