How to Be a Great Airbnb Host and Withdraw Your Money with Lower Fees
Santiago Coates
May, 10, 2024
4 min. reading
If you’re looking for new ways to generate income or considering the possibility of obtaining an additional source of income, becoming an Airbnb host might be the right option for you.
Airbnb is a popular platform for travelers seeking authentic accommodations in various destinations and countries, and it remains a preferred choice among tourists.
As an Airbnb host, you can earn income by renting out apartments and houses on the platform to travelers for both short and long stays.
However, many hosts make money through Airbnb but face the challenge of not knowing how to withdraw their earnings due to the lack of a US bank account.
This often leads to limited and costly alternatives for converting and accessing your funds, complicating your financial management and reducing your actual income.
In this article, we will show you how to withdraw your money from Airbnb with lower fees and in your preferred currency using our new US Virtual Account.
Withdraw from Airbnb with Lower Fees
Designed specifically for Airbnb hosts, our U.S. Virtual Account allows you to bypass traditional banking obstacles and withdraw your funds while significantly saving on fees.
Simply open a US Virtual Account with Airtm, enter the account details into Airbnb, and start receiving your payments directly.
From there, you can easily withdraw your funds in local currency, saving time and reducing fees to just 1.75%.
This way, you’ll be able to receive your payments in USD within 48 hours and enjoy the flexibility of withdrawing your funds once they are converted to USDC, using more than 500 payment methods, including local banks, digital wallets, cryptocurrencies, and more.
For example, users in Argentina can enter their U.S. Virtual Account address from Airtm into Airbnb and convert their earnings to Argentine pesos without complications, at the USDC exchange rate.
Before and Now: Saving Up to 66% on Fees
Withdrawing your Airbnb funds through platforms such as Payoneer or PayPal used to be a costly and complex option. Users faced fees ranging between 5% and 8%, along with several additional steps before they could access their money. Now, the Airtm Virtual Account has transformed this process, significantly reducing the fees to just 1.75%.
To illustrate the difference, let’s consider a practical case: suppose you rent out your property on Airbnb and receive a payment of USD 1,000. With the Airtm Virtual Account, the fee for this service would be only USD 17.50, compared to the previous 5%, which would represent a loss of USD 50 if the funds were first transferred to another digital wallet such as Payoneer or PayPal before reaching Airtm. This means that by opting to withdraw directly with Airtm, you can reduce your fees by up to 66%.
This significant reduction not only optimizes your earnings but also simplifies the withdrawal process, maximizing the value of your international transactions. This allows you to manage your Airbnb income more efficiently and with lower costs.
The Step-by-Step Guide to Setting Up Your US Virtual Account on Airbnb
On Airtm
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- Log into your Airtm account at airtm.com.
- Click on “USA Account” in the menu and follow the instructions.
- Read and agree to the terms and conditions of Bridge Ventures Inc.
- Verify your identity by following the provided instructions.
On Airbnb
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- Click on Profile > Account > Payments and Payouts.
- Click on Payouts and then on Add Payout Method.
- Choose the United States as the billing region.
- Select “Bank Account” as the payout method.
- Enter the details of your Airtm U.S. Virtual Account on Airbnb.
Follow the steps here:
US Virtual Account with Airtm
Making the transition to the US Virtual Account at Airtm not only simplifies your collection process but also provides a more economical and efficient way to manage your Airbnb income.
Open your US Virtual Account and simplify your life today.
