Airbnb is a popular platform for people to rent out their properties or book accommodation worldwide. In this tutorial, we'll guide you through the process of adding your GrabrFi account to Airbnb, so you can receive your payments directly in US dollars.
Incoming ACH transfers in US dollars are free with GrabrFi, and Airbnb doesn't charge any fees for payments to US accounts.
First, you need to know the details of your GrabrFi account.
1-Open your GrabrFi account and click on "details"
2-Have the information that appears on the "USA" tab ready.
Then you can start setting up your account, for that:
1- Log in to your Airbnb account, and access your account settings.
2-In the dropdown menu that appears, click on "Account Settings." Then click on "Payments & Payouts."
3-Add a new payout method: Click the "Add Payout Method" button and choose "United States" from the dropdown list. Then select "Bank Account."
4-Enter the details of your GrabrFi account: Select "Checking" account, and remember to use your ACH routing number. Verify the information; incorrect information can cause delays or failed payments.
5- Address, use our banking partner's: Lineage Bank — Synapse 120 5th Ave N Franklin 37064
6- Verify your identity: To protect your account and ensure secure transactions, Airbnb may ask you to verify your identity before adding a new payment method.
7-Select a contributor for this account:
Airbnb requires you to file your tax returns to know which country you are subject to taxation in. Although your payment account is in the United States, you pay taxes in Argentina/Colombia/Peru, etc. Therefore, it's necessary for you to fill out the W-8BEN form.
Through this form, you will declare that even though you receive payment to a US account, your tax filling is made in your country of residence.
*Click on "Add a new contributor”
select the option that says "W-8BEN form."
Fill out the requested information. Leave the section that says "US tax identification number" blank and complete the section that says "Foreign tax identification number" with your tax number. For example, in the case of Argentinians, you should enter your CUIT here.
8-That's it! Once you've submitted all your information, you'll receive 2 emails from Airbnb:
*The first is a confirmation email of your information.
*The second email is to inform you that, as a test and to verify that everything is working correctly, Airbnb will send you $0.01 usd to your GrabrFi account.
If you received this deposit, congratulations! You can now start receiving your Airbnb payments directly in US dollars to your GrabrFi account, without losing a penny to fees or the currency exchange rate.