Here's what you need to know about getting paid through Fairly.
Add a Payout Method
You will be asked to set up a payout method (linked bank account) during the user onboarding process. A payout method includes your bank account to receive payments as well as your tax ID number for year-end tax reporting.
The linked bank account in your payout method will be used to process ACH payouts to you for guest reservations or caretaker cleaning fees, depending on your role. It is your responsibility to ensure that the bank account and tax ID details you enter are complete and accurate, and to notify Fairly as soon as possible if the account details are incorrect or have been changed without your authorization.
Payout Timing
For property owners, we will release your payout about 24 hours after the guest checks out.
For caretakers, we will release your cleaning fee payout about 24 hours after a property is marked as ‘cleaned’ in the Fairly Platform.
Payouts are released once Fairly has received the funds for that reservation, so there may be circumstances where payouts are delayed beyond this 24-hour period (e.g. in the case of same day reservations).
After Fairly releases your payout, processing times will determine when you receive the payout in your linked bank account. For ACH payments, this processing time can be up to 3 business days. The banking system does not process transactions on weekends or bank holidays, so your payout will be processed the following business day.
In some rare instances, Fairly may delay payout timing to review transactions before they are processed (e.g. to prevent fraud). These reviews are standard processes that we conduct in order to prevent fraud and comply with regulations. As part of this process, we may limit your account permissions or request further details to verify your identity.
Payout Calculation
For property owners, the payout amount for each reservation is calculated by deducting the caretaker cleaning fee, the Fairly Platform Fee, the Fairly Processing Fee (if applicable), and the Third Party Channel Fees from the total reservation amount. Fees are discussed further here.
In some cases, the financial institution you use to receive your payout may charge additional fees.
You can see a summary of your recent payouts, including the calculation of the amount, in the Fairly Platform.