I just paid a friend via facebook and there didn’t seem to be any fees, is this possible? (or did she pay fees on her end and didn’t want to say anything?)
Doesn’t FB have anything on their site about how it works. I believe it’s free.
What? I’ve never heard of this. What’s this all about?
Facebook friends can send money to/from each others’ debit cards (NOT credit cards) without any fees. Based on what I sent to my friend, it’s virtually instant.
Apparently, facebook didn’t want their users opening up another app (like venmo/paypal) to split bills, etc. and built their own payment system. For now, it’s completely free.
Oh, that’s very similar to the electronic transfer we have in Canada (don’t know if it’s available anywhere else).
You login to your online or mobile bank account and click on “transfer funds”. Then you send it to their email address and put a password with it.
Some banking institutions offer it for free if they use the same bank, but if it’s another bank it can cost from $1 to $1.50 to transfer.
It sounds like a similar system. I wonder if it can be done between different currencies on Facebook - that would be great!
i wonder if it works internationally?
On Paypal I can send people money without fees as long as no credit card is used. Is this different or are you just avoiding PayPal?
PayPal just tripped me up hard and they wouldn’t do a single thing to help. I was refunding a guest’s deposit (on another platform) and got a message it didn’t go through. So I hit Send Money again and in my horror realized it was a duplicate!!! And they debited the second payment right out of my checking account which of course had no money in it! I could not cancel it and they told me sorry, too bad. Get the person to send it back.
Luckily she did but I was shook up. Since when did they allow your debit card to be charged? !!
I couldn’t cancel it without paying a stop payment fee to the bank. I’ve been really wary of PayPal ever since. What if someone got into your account? They could pull out every penny!
They are trying to muscle in on the Venmo market, which I use all the time. To pay my cleaner, actually.
I had a guest pay via PayPal and didn’t like their charges, so said that he was going to pay another method (also via PayPal). I refunded the first and he repaid.
To make a long story short, PayPal’s decision was to not honour the payment because there is no proof that goods were shipped. Ebay is PayPal’s original platform and in the end it boils down to their original mandate. When someone stays at a property there is no way to prove that something was shipped, so be aware if a guest decides to pay by credit card on PayPal you’d better trust the guest.
Now I only accept PayPal if it is more than 6 weeks before arrival.
Yes, I’ve really wondered about this especially lately. I don’t feel comfortable with them having that access. Maybe time to close it down, especially if this FaceBook transfer is international.
PayPal is not a bank, remember. They are not subject to the regulations that actual banks are.
How is this relevant to hosting on Airbnb??
Another off topic conversation!
But seriously, it can help if you are booking on other platforms like I do and need to take cash deposits. Paypal is getting dodgy.
Try Stripe then
Doesn’t that require a gadget and a fee? I don’t have enough bookings on other platforms to take cards. plus i don’t want to deal with possible chargebacks.
You don’t like the idea of FB Money? If it’s free that’s really really cool.
Nothing’s free. There’s always a catch. Better yet to go with something whose costs are charged to the customer up-front and transparently.
Facebook will exact a bigger cost from you at a later date.
No need for a gadget on Stripe, there’s a small per-payment commission of course. Happy to give more info if needed - I set stuff like this up for my clients.
The majority of hosts on this forum do not exclusively host on AirBNB or are at least considering how to expand onto other platforms or their own website in the easiest way possible.
I’m on holiday in Poland at the moment and my host requested the deposit for the accomodation through a service called Transferwise, this is my referral link if anyone is interested: https://transferwise.com/u/andreb209
Transferwise is a very good option. I’ve used it.
It cuts out the middleman in money transfers and especially across currencies. I can definitely recommend it.