11 Replies Latest reply: Nov 14, 2019 9:19 AM by margaret RSS

    I think I figured it all out! Payment Migration Explained

    hangalen7 Contributor

      It's beyond maddening that I have never received any communication from VRBO explaining how this migration is going to work, what I need to do and how to track upcoming payments! I was left on my own to dig through this forum, sit on hold and get conflicting answers from customer support, try to talk to Yapstone, three-way conference calls and on and on. All that was needed was one comprehensive, clear email from VRBO explaining how to handle the migration. Why that never happened is beyond baffling to me. If it did happen what was the date of the email and who was the email sender?

       

      I've never had an issue with early payments b.c. I never knew that existed (I don't think). The first time I heard about early payments was in the odd letter from Yapstone asking for 3%. Again VRBO never sent out a communication explaining this email they just let us all sit on hold and try to get answers from customer support who has to field frustrated calls from owners and try to answer the same questions over and over.

       

      So here is how I understand it:

       

      1. Make sure you fill out a new W9! Once you fill out your bank details with VRBO direct payments you also have to fill out a W9! They don't tell you this they just indefinitely hold all your guest payments. I found out about this when my bank account charged me a $40 overdraft fee! Then it took me two days to figure out why. Customer service told me it was because Yapstone was withholding my payments and I should talk to them. Yapstone said it was on VRBO and I should talk to them!  I finally figured out (three-way conference calls, more calls) that VRBO was keeping my payments b.c. I didn't have a new W9 on record - how in the world was I supposed to know that! And VRBO you owe me $40

       

      2. Tracking Payments: Which payment processor your payments for upcoming reservations come from depends on the date you migrated to VRBO. Any bookings made before that date will come from Yapstone, anything after will come from VRBO. This is not the date of the reservation, it's the booking date they made the reservation. The only way I know of to discover the secret date of your migration is to call VRBO and get them to look it up. Then you can use that date to manually dig through every single upcoming reservation, one by one, and look at the booking date (not the reservation date). For me I have upcoming reservations coming from both processors.

       

      My strategy is to just watch my bank account for payments to deposit. I don't care who they come from. I don't care how VRBO wants to handle payment processing. I just care that I lost two days, suffered immeasurable frustration and lost $40 in overdraft fees because it never occurred to VRBO to explain anything to owners. How in the world do companies like this succeed or even stay in business? In vacation rentals, just like in any relationship, communication is everything.

        • Re: I think I figured it all out! Payment Migration Explained
          hmmmm Senior Contributor

          Great work!!!

          And I changed bank accounts for the new payments from the one I used for Yapstone.
          So no cross overs there.

          • Re: I think I figured it all out! Payment Migration Explained
            bobbie32 Premier Contributor

            I am sitting tight and not doing anything.  I do not care if I receive payment after check-in, since we do not book out more than a couple of months in advance of arrival.  And we have PPB, so we would get paid after check-in anyway.  But I do indeed care about receiving payment.  I do not want to fill out a W9, as I do not trust VRBO to have my SS number (frankly, I do not trust any site having sensitive info).  Not only that, but we are only booking 14 nights a year which we can do so income tax free.  So I will wait and see what happens.  If Yapstone goes out of business and we have a booking, who knows what will happen.  I assume that Yapstone will be processing payments until we officially switch processors and fill out a W9 - correct?  I refuse to call them and get an idiot on the other end. So does anyone know if Yapstone is being dropped as a VRBO/HA payment processor? Sure would be nice if they fessed up.

             

             

            Edited...

            • Re: I think I figured it all out! Payment Migration Explained
              db.meyer Senior Contributor

              How long have you had a listing on HA/Vrbo? If you never knew early/on-time payments existed (?), that may be an indicator that you missed an email or two about the recent payments changes from Yapstone to HomeAway Payments? It appears you are not concerned that your payments will not be deposited to your account until after your guests check-in, even up to 12 months after they have booked your home?

              • Re: I think I figured it all out! Payment Migration Explained
                hangalen7 Contributor

                I've been listed with HA for over 2 years. My payments always came with the stay. I was never offered another option that I am aware of. I got emails about the payment migration and took care of it immediately. It's just that HA never notified me about the W9. It turns out they put a little note out on the dashboard but who looks at that? I've learned to ignore dashboard and never had it be used for vital, pressing info before now.

                 

                The good news is, once I figured out that HA was keeping my payments and why the migration went very easily and all my payments direct deposit. The back payments that they have been holding also got put into my account in short order. The W9 w Social Security number is not a concern it's done on a very secure platform. It's the same one real estate agents and lawyers use for very sensitive information so no worries there. My wife is a CPA they transfer very sensitive info online on secure sites constantly. It's the way business is done in the modern world. I recommend to anyone delaying to just fill out the paperwork and be done with it - business as usual and we get to be rid of Yapstone which I think we can all agree is a win-win. I'm sorry for those who are losing advance payments. It would seem logical for HA to keep that service for those who have it and depend on it.

                • Re: I think I figured it all out! Payment Migration Explained
                  vbauer62 New Member

                  I am also a very frustrated owner with this new "forced" payment processing system.  I was told I was advanced payment and they are holding some of my booking funds till day after check in and some are showing up 7-10 days later.  I've called and called and called..escalated to billing and the only answer I got was "there is nothing they can do".  This is crap.  I'm sorry but a company worth billions of dollars, holding onto OUR money for how many days? Either a week or months it doesn't matter.  They are earning interest on OUR money.  Not even going to mention they are holding our taxes and submitting.  Yes they are earning interest on our tax dollars too.  It's a great deal for VRBO but it sucks for me as a small business...basically I'm a mom renting out my place to pay the bills.  Since my busy season is just now starting I'm low on funds and the funds I earn in Oct/Nov pay for Oct-Jan bills.  I have $35 in my property checking account today with over $5000 in booking monies owed to me.  Some I will get in two weeks and some I will get in 4 weeks and some I will get next year. Again  I was approved for "advanced payments" and was promised if I migrated (which is required but they don't tell you that until you try to go back to Yapstone which is another demon).  I am stuck, I have no money and they don't care because they have my money as sitting fat and happy! 

                   

                  Has anyone gotten a straight answer yet as to why this is happening?  Will they be fixing it?  It's so not right.  I've been with VRBO since 2012 and this is just plain WRONG!!!

                    • Re: I think I figured it all out! Payment Migration Explained
                      margaret CommunityAmbassador

                      vbauer62 

                      It appears that you are receiving payment 7-10 days after the traveler pays through the new system, this is the time frame for "early payments" on the new system. Yapstone started charging an additional 3% for advance payments (I think it began last August). Any payments that originated on Yapstone will remain with Yapstone through completion, if you did not agree to pay the additional 3% extortion to Yapstone they will not send your payout until after check in. You could consider canceling the bookings that are with Yapstone with a full refund and rebooking the guests. Of course, this would require an explanation to the guest and you risk the guest not rebooking. I would consider it, I am not comfortable with Yapstone at this point and would be concerned if they were holding any of my money. Between the additional 3% money grab and their recent layoffs, I do not have confidence in their financial solvency.

                    • Re: I think I figured it all out! Payment Migration Explained
                      ohst8er Premier Contributor

                      hangalen7, no need to dig thru each and every reservation to see who booked thru VRBO and who booked thru Yapstone.  Just look on the right hand side of your inbox.  They are all right there on that page. 

                       

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