Help Center/Topics for Owners and Managers/Billing/Payment

FlipKey Payments FAQ - Guest Reservation Manager

Vanessa
posted this on February 15, 2012 12:44 pm

How do FlipKey Payments work?

FlipKey Payments provide owners/managers with an opportunity to securely request payments from guests. Easily send a rental agreement and accept credit card payments and eChecks all through a simple streamlined process located within your FlipKey account.

Who is eligible?

Any property owner with a U.S bank account or a PayPal account is eligible for FlipKey Payments. Property managers, contact your account manager or email us atmemberservices@flipkey.com.

How do I sign up?

Please click on the appropriate link below for details on how to sign up for FlipKey Payments:

I am an owner with a U.S bank account

I am an owner with a PayPal account

I am an owner without a U.S bank account or PayPal account

I am an owner with a U.S bank account:

1. Log into your account at www.flipkey.com/users/login. You will be prompted to sign up for FlipKey Payments.

2. Enter your personal information.

3. We’ll process your information and you will be approved to accept payments. Payments will be held until at least 24 hours after guest check-in. After payment is released, it will be processed and deposited into your bank account within 3-5 business days. Learn more about payouts and processing.

4. If your payment application is not successfully processed, please contact our owner services specialist team at 1-877-FlipKey (9am – 5pm EST) or by email at memberservices@flipkey.com.

I am an owner with a PayPal account:

1. Log into your account at www.flipkey.com/users/login. You will be prompted to sign up for FlipKey Payments.

2. Enter your personal information.

3. We’ll process your personal information and you will be approved to accept payments via PayPal. With this type of account, payments will be held until at least 24 hours after guest check-in. After payment is released, it will be processed and deposited into your bank account within 3-5 business days. Learn more about payouts and processing click here.

I am an owner without a U.S bank account or PayPal account:

All homeowners located outside of the United States are required to use PayPal. We highly encourage you to sign up for PayPal in order to accept payments through FlipKey. Learn more about how PayPal can be processed around the world.

Does FlipKey save my personal information?

No. All banking details are sent directly to our payments provider and are not saved in our system.

How much does it cost?

If you are on our subscription platform, you can use our payment tool completely free. If you are on our commission platform, you pay 3% on all bookings received.

Guests pay a small booking fee that varies based on the total cost of the rental. The fee will be automatically added to the traveler’s invoice when booking. The fee includes the convenience of booking online, the support of our dedicated customer care team, and our Peace of Mind Guarantee, which provides additional assurance and protection for your guests.

The guest booking fee is calculated as a percentage of the total reservation cost, not including refundable security deposit, deposit insurance or owner-specified taxes. The table below shows the booking fee percentage with the corresponding reservation amounts.

How do I initiate a payment request?

You can initiate a payment request from an inquiry in your account. The payment request will automatically include the traveler’s name, email address, and rental dates.

To create new payment request from the Payments tab in your account:

1. Log into your FlipKey dashboard at www.flipkey.com/users/login. Click on Create Payment Request under the Payments section of your account.

2. Enter the details of the reservation, update your rental agreement and policies, and send it to your guest.

3. Your guest will receive an email from FlipKey where they can easily submit their credit card or eCheck details by clicking on the pay now button. You will receive an email once payment has been submitted. Renters can pay using a Visa, MasterCard, or Discover card. All cards must be 16 digits.

Can I initiate a payment request for a guest who did not inquire on FlipKey?

A payment request can be sent to anyone. We encourage you to send a payment request to repeat guests, guests who inquired through your personal website, or even a guest that sent an inquiry through another listing site.

Can I create a payment request directly from an inquiry?

Yes, you can initiate a payment request from an inquiry in your account. The payment request will automatically include the traveler’s name, email address, and rental dates. The short video below walks you step-by-step through creating a payment request directly from an inquiry in your dashboard.

Can I set default rental policies in my account?

Yes, you can customize and set default rental policies. Save a standard rental agreement, set check-in and check-out times, and set your cancellation policy. All the default settings will be automatically be entered on all your payment requests. Learn how to set default policies on FlipKey.

How do I add taxes, fees and policies to a payment request?

Your specific rental fees, taxes, and agreements can easily be added. Learn how to set default policies on FlipKey.

Why is setting my cancellation policy important?

When a cancellation occurs, we process refunds based on the cancellation policy you’ve chosen in your FlipKey account. Setting a cancellation policy also provides clear terms and conditions that can be referred to in the rare event of a dispute.

To set your property's cancellation policy:

1. Sign in to your account at www.flipkey.com/users/login and click on Listings.

2. Click on Edit Listing and click on the Policies tab.

3. Your cancellation policy will automatically display in each payment request sent to your guest.

How can I charge a deposit?

You’ll have two choices when it comes to charging a security deposit. Depending on your preference, your property, and your guest, you can protect your home using either one of the options below:

Damage Protection Insurance: We provide a damage protection plan from a trusted insurance provider to protect against accidental damage incurred during a guest’s stay. Our damage protection plan is an easy alternative to a traditional security deposit, at no cost to you. This service is covered by a small fee paid by the guest. Here are the available coverage options:

$1,000 in coverage at a cost of $34.99
$3,000 in coverage at a cost of $39.99
$5,000 in coverage at a cost of $49.99

Although the traveler is the insured party, you can select the plan level with the appropriate level of coverage needed for each vacation rental property. In the event of damages, either the owner or the traveler can submit a claim. Please note, the damage protection insurance only covers U.S citizens. For specific details regarding coverage, our provider, and how it works, click here.

Refundable Security Deposit: The traditional refundable security deposit will be held by FlipKey. When your guest checks out, we will send you an email reminder. If there are no damages reported within 7 days, we will automatically refund the deposit to the traveler. To report any damages, simply email claims@flipkey.com. Provide a summary of your claim and attach any photos or details that will show evidence of damage.

How do I create scheduled payments?

If you allow your guest to pay for their stay in increments, you can easily set up payment installments as part of your default rental policies in your FlipKey account. We’ll automatically use your payment schedule to appropriately set the payment due dates for each guest. Your guest will get an email reminder automatically for each scheduled payment.

To set default scheduled payments:

1. Log into your account at www.flipkey.com/users/login and click on Listings.

2. Click on Edit Listing and click on the Rates tab.

3. Set the amount that you would like due at the time of the booking and the due date of the balance prior to check-in. It’s important to note that a single payment may not exceed $3500.

What are supplemental payments?

Supplemental payment requests can be issued after a payment request is paid by a guest. For instance, if your guest has already booked their stay and paid in full, but later decides that he or she wants to rent a boat or add on tickets to a local attraction, you can issue a supplemental payment request for that amount.

1. Log into your account at www.flipkey.com/users/login and click on Payments.

2. Find the Reservation section and enter relevant check-in and check-out dates. All guests that are staying within the dates entered will appear. Click the plus sign to view the details of the reservation and click request additional payment.

3. Enter the payment details and confirm supplemental payment.

How do I cancel a booking?

1. Log into your account at www.flipkey.com/users/login and click on Payments.

2. Find the ‘Reservation’ section and enter relevant check-in and check-out dates. All guests that are staying within the dates entered will appear. Click the plus sign to view the details of the reservation and click cancel/refund reservation.

3. You can cancel the reservation and refund either the full amount paid, or just a portion of the payment and then hit continue.

How do I process a refund?

1. Log into your account at www.flipkey.com/users/login and click on Payments.

2. Find the guest you want to refund. To do so, enter relevant check-in and check-out dates. All guests that are staying within the dates entered will appear. Click the plus sign to view the details of the reservation and click cancel/refund reservation.

3. Refund either the full amount paid, or just a portion of the payment and then hit continue.

Can I resend an expired payment request?

It’s not possible to reactivate an expired payment request through your FlipKey account. However, if a guest paid the first payment but missed a scheduled payment, contact us and we will reactivate the additional payment.

What forms of payment are accepted?

Guests can pay using a Visa, MasterCard, or Discover card or by electronic check (eCheck).

When will I receive my payment?

Payment is held until at least 24 hours after guest check-in. After payment is released, it will be processed and deposited into your bank account within 3-5 business days.

All payments are charged in U.S Dollars and will be converted using the appropriate exchange rate on the day the traveler books. The converted funds will be transferred to your bank account or PayPal account at least 24 hours after guest check-in. In the event of a last minute booking, funds may not be transferred to the owner until up to 10 days after payment is submitted by a guest. Funds will be deposited into your bank account or PayPal account, depending on your preference and eligibility.

To check where your money is being deposited, log into your account at www.flipkey.com/users/login and click on Payments. Your specific payment type will visible under settings.

For specific questions regarding transactions or your account, please email us at memberservices@flipkey.com.

Will I be notified once a guest pays?

You will receive an email each time you get paid! If you have a U.S. mobile phone, sign up to receive SMS alerts in the ‘Payments’ section of your account. You will receive a text each time a guest submits payment.

Will I be notified when money is transferred to my bank account?

Yes. An email notification is sent when payment is released to your account. Once the funds have been disbursed, it will take 3-5 business days before money is deposited into your account.

Since owners on FlipKey Instant receive funds 2-3 business days after a guest submits payment, the email that your receive when the guest pays acts as the notification for disbursement as well. Our payment provider can only disburse $4,000 per account daily. If your total payment exceeds $4,000 you’ll receive payment in a series of deposits over 3-5 business days.

Can I change my bank account information on file?

Yes, you can change your bank account on file. Since we can’t guarantee that the new account details will be accepted by our service provider, we recommend continuing using payments with the information on file. If using the current bank details is no longer possible, contact us.

How can I keep track of payment requests?

All payment details are automatically saved and easily managed directly through your FlipKey account. The ‘Overview’ tab on the payment dashboard allows you to easily view the status of each payment request.

Where can I see how much I’ve made?

Find your earnings in the ‘Account Statements’ section of the payment dashboard. The damage deposit and any relevant fees will be removed so you know exactly how much you’ve made on each booking.

Terms and Conditions

Please review an abridged version of our Terms & Conditions relevant specifically to FlipKey Payments below:

“We provide FlipKey Payments as a service to our users and Managers to reserve and pay for rentals, including managing inquiries, rental agreements, cancellations and damage protection insurance…By using FlipKey Payments, you agree that the posting of new or revised terms and conditions on the Website will constitute adequate and constructive notice to you of any and all revisions and changes. Continued use after any such changes or after explicitly accepting the new terms shall constitute your consent to such changes…

Rental Agreements. By utilizing a rental agreement in FlipKey Payments, the user (as “Guest”) and Manager agree to the terms and conditions set forth in the rental agreement (including without limitation the cancellation refund policy) effective as of the date that the user indicates acceptance of the rental agreement…You have been hereby advised to obtain local legal counsel to prepare, review and revise as necessary any rental agreements to ensure compliance with federal, state, and local law and their particular circumstances, and to revise the rental agreement as necessary…Damage Protection Insurance. By utilizing and/or purchasing Damage Protection Insurance in connection with FlipKey Payments, you agree to the terms and conditions under the Damage Protection Insurance Assignment of Benefits Policy…Full details of the Damage Protection Insurance are contained in the Description of Coverages located here...”

For full disclosure regarding FlipKey Payments, review our Terms & Conditions here.

How do I get more information about FlipKey Payments?

Contact a FlipKey Account Specialist at memberservices@flipkey.com. We would be more than happy to help.