Does booking.com offer any financial assistance to owners who may require some short term financing who are at risk at losing there home and the $30 000 worth of advance reservations sitting in booking.com's bank account.

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6 comments

  • Hello there,

    What do you mean that you have fought to take over the credit card transactions? From whom?

    How are you working with BDC (booking.com)? Do you get paid via Virtual Cards or bank transfer?

    Your main issue is that you cannot get payment for reservations that have already stayed or you want to take payment for reservations that are in the future?

    What reservation policy do you use?

    Hopefully if you can clarify those questions, we could find a solution.

    Best regards,

    Zsolt - www.thuild.com

  • Avatar
    Dwayne Snisarenko

    Currently I am being paid via bank transfer with Payments by booking.com - when opening my second location i requested to Opt out of payments by booking.com so that i could process my own credit cards for the prepayments of advance reservations which booking,com currently accepts and has the money in there account  I was wanting the benefit of the advance payments in order to secure extra funding to help with my financial crisis.

  • Dwayne,

    If you have guest's credit card information, you can only charge them according to the cancellation policy that you have set up for your property. You won't be able to charge them in advance, as that will land you with some nasty charge-back requests that can get your bank to shut down your activity. 

    On the other hand, if you're getting Virtual Cards from BDC, then you can only charge them after the check-out date. Therefore you still need to wait for the guest to arrive and stay at your place.

    Those future bookings can come and go. Therefore you cannot charge those cards beforehand, some might cancel within the window and will receive an automatic refund from BDC. That's the idea behind this.

    Best regards,

    Zsolt - www.thuild.com

  • Avatar
    Brixtony1

    Hi

    This is not quite correct

    "On the other hand, if you're getting Virtual Cards from BDC, then you can only charge them after the check-out date. Therefore you still need to wait for the guest to arrive and stay at your place."

     

    If you have prepayment set up  of 30 or 60 days, Booking.com allows you to collect virtual credit card payment 30 or 60 day before arrival.

     

    I only noticed this by chance.

     

     

  • Hey Tony,

    Sure you can set that up and see a decrease of at least 50% of the bookings.

    Also depends where your property is located, what's the market, etc. 

    Same goes for non-refundable rates, you can charge them, but not everyone is using such setups and it may not work for them at all.

    A city based property will never get their gross bookings 60 or 30 days before, more like 5-3 days before arrival, therefore the conditions must be different.

    If you want to experiment, you can try it, but from experience, prepayment never works if it's the ONLY method you're offering guests.

    Cheers,

    Zsolt - www.thuild.com

  • Avatar
    Brixtony1

    It seems that many of Dwayne's guests are happy to pay in advance but he can't get hold of the money.

     

    It is possible to have two tariff rates? One no advance payments and one 60 days in advance. At least he could access the cash already paid to Booking.com 60 days in advance without losing guests that prefer not be pay in advance.

    Not sure if this is a possible set up.  

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