Taking payments from guests at your holiday home

Taking payments from guests at your holiday home

When it comes to bookings the trickiest part is always money-related. Holidaymakers may be keen to stay but may also be cautious about parting with their hard-earned cash so it is good to be as clear and helpful as possible in terms of prices and payments. Always make it clear to guests how much they need to pay for the holiday and the due dates for payments. It’s a good idea to email people with a breakdown of payments and give them a list of the payment methods you accept along with your account details or the address to send cheques to. You will probably need to remind people when a payment is due, especially if they have booked far in advance. Tried and trusting methods of receiving payment are as follows:

1. Cheque. This is the easiest way of taking payment if you both live in the same country because there will not be any additional charges to either party. You’ll need to give your name and address and if you give any sort of booking reference ask the holidaymaker to write this on the back of the cheque. Always ensure that the cheque has cleared before you confirm a booking or hand over keys.
2. Bank Transfer. This is good way of taking payment both from abroad or at home. You need to give your name, account number, sort code and your bank’s address. If a transfer is being made from abroad they will also need your IBAN and SWIFTBIC numbers – ask your bank for these. Make sure your guests know that they have to cover any bank charges incurred for a foreign transfer.
3. PayPal is the popular online system that allows simple transfers between two online accounts. Even if your guest does not have a PayPal account they can still pay you by credit card online through the PayPal system. There is of course a charge to you for such transactions, but it is pretty competitive, and this method transfers money instantly, making it ideal for last minute bookings. Contact PayPal for more details.
4. Cashier’s Cheques. Although not often used, these sorts of cheques come guaranteed by the bank and work well for those who don’t have a chequebook or wish to confirm they are paying you from cleared funds.