Payment from David's?

[smiths02]

Exactly! What happens if the renter doesn't pay and you borrow points to complete a reservation. And the reservation is at the end of your use year? What happens then. Are you out those points?

This could happen if you rent them out yourself

 

[LAX]

What risk is David taking. If the customer cancels you're still going to have to cancel the reservation. If it's close to the end of your use year you'll be stuck holding the bag. How does David take any risk? He doesn't pay you until you make a reservation. If he doesn't make a reservation what happens to those points?

Again, I'm not faulting David's business model. In fact just yesterday I sent a customer his way and I've done it before too. I need clarification on this.

I did ask about cancellation prior to renting my points through David's and the response I got was reassuring. Basically, if I have made a reservation at David's (anyone at the company, not just himself obviously) and the renter decides to bail, I will get my originally agreed upon payment (whatever the current $/point rate). The reservation will then essentially become David's to rent out. To me, that's some risk that David's is taking for pocketing the $2-3/point. The fee obviously covers weeding potential renters for the serious ones. The only two rentals I have done with David's thus far went relatively smooth and I will definitely use his service again when I have points I/my family can't use.

LAX

PS: I do not get compensation by anyone for this post. I just wanted to report my positive, but admittedly limited, experience with David's.

 

[araffle]

How long is his process, typically, from start to finish?

 

[ThisIsJason]

How long is his process, typically, from start to finish?

I only rented my points out with David's once, so it might vary from time to time.

I submitted on a Monday night and by Friday the points were rented. 50% of the money owed to me was in my PayPal account Tuesday, the other 50% was put in a day or two after the people renting check in(I believe this was changed to 70/30 last year).

Would do it again if I needed!

 

[kamik86]

Exactly! What happens if the renter doesn't pay and you borrow points to complete a reservation. And the reservation is at the end of your use year? What happens then. Are you out those points?

If the reservation was made early enough (when I have rented points I did so quite far in advance of them expiring) then David's would know in a few days that the renter wasn't paying and although yo would have to cancel it I assume they would put you towards the top of the list of people to notify when a new rental came in. Since many rent under the 7 month mark he would probably find someone pretty quickly to rent those points for you.

Once the renter pays (the renter pays the full fee up front, David only sends the owner part of it for the incentive for the owner not to cancel and screw the renter) David is holding the money.

David has a good system going... its not just those few dollars a point he is making money off of. For every person that rents at 11 months he has almost a year of interest he gets on that money until he pays the owner after check in.

 

[lisaviolet]

It is, but they pay in USD. I need the USD for dues. If I were paid in CAD I'd lose money converting it to USD or getting hit with the exchange on my credit card. That's why many of us have US dollar accts with our Canadian banks. This is a PayPal problem they seem unwilling to fix.

Open up a US-based with RBC (not just US dollar account and make sure the RBC employee knows clearly what you are asking to open) And link that to your PayPal. I would think that would work.

I've had that account for over a decade and pay my dues monthly to Disney from there.

 

[Madame]

Open up a US-based with RBC (not just US dollar account and make sure the RBC employee knows clearly what you are asking to open) And link that to your PayPal. I would think that would work.

I've had that account for over a decade and pay my dues monthly to Disney from there.

Thanks. We opened a TD US acct in FL over the phone. Took a couple wks to sign the docs & send them back, but we can transfer easily between the US acct and our Canadian TD USD acct.

 

[lisaviolet]

Thanks. We opened a TD US acct in FL over the phone. Took a couple wks to sign the docs & send them back, but we can transfer easily between the US acct and our Canadian TD USD acct.

Sorry, I just assumed you didn't have a US-based because you were talking about issues getting the Paypal money out, with having to exchange. I understand that with US dollar Canadian based accounts they do the exchange, back and forth (frustrating).

But why would you have to do that with a US based account? I have heard people that are pushing it through, I thought even on the disboards last year.

_________________________________________________________

This is a recent conversation about the issue, hopefully it helps your situation ---


Re: Adding a US bank account to a Canadian PayPal account

‎10-18-2016 04:41 PM

About five weeks ago I spoke to someone who told me that in order to deposit USD into a USD bank account that bank needs to be in the US. Today I finally got my US Bank account open and ready to set-up with PayPal. When I tired to do it online I received an error. Then I call for help and I spoke to two different people today who both told me that using a US Bank with a Canadian PayPal account was not possible.



The second person I spoke to today worked with me and dug deep, very lovely (Shawna). After several trips back and forth to her supervisor she came back and made a couple of 'adjustments' to my account and then I was able to add it no problem.



It IS POSSIBLE to do this.



Hope this can help you.

______________________________________________________________________


I did not read the entire page but it is from here. Just trying to help you - https://www.paypal-community.com/t5...ount-to-a-Canadian-PayPal-account/td-p/964440

 

[Madame]

Sorry, I just assumed you didn't have a US-based because you were talking about issues getting the Paypal money out, with having to exchange. I understand that with US dollar Canadian based accounts they do the exchange, back and forth (frustrating).

But why would you have to do that with a US based account? I have heard people that are pushing it through, I thought even on the disboards last year.

_________________________________________________________

This is a recent conversation about the issue, hopefully it helps your situation ---


Re: Adding a US bank account to a Canadian PayPal account

‎10-18-2016 04:41 PM

About five weeks ago I spoke to someone who told me that in order to deposit USD into a USD bank account that bank needs to be in the US. Today I finally got my US Bank account open and ready to set-up with PayPal. When I tired to do it online I received an error. Then I call for help and I spoke to two different people today who both told me that using a US Bank with a Canadian PayPal account was not possible.



The second person I spoke to today worked with me and dug deep, very lovely (Shawna). After several trips back and forth to her supervisor she came back and made a couple of 'adjustments' to my account and then I was able to add it no problem.



It IS POSSIBLE to do this.



Hope this can help you.

______________________________________________________________________


I did not read the entire page but it is from here. Just trying to help you - https://www.paypal-community.com/t5...ount-to-a-Canadian-PayPal-account/td-p/964440

Thanks! Yes we just opened the US acct last month after I posted here, as a way to work around PayPal Canadian USD acct problems.

You definitely do not have to exchange out to CAD from the US based acct. I was referring to the fact that we can transfer money from our US based to our USD Canadian acct easily. So, for example I can set up my DVC dues out of the US based acct and keep that acct topped up with money I have saved up in the USD Can acct.

Hopefully that clears things up

 

[lisaviolet]

Thanks! Yes we just opened the US acct last month after I posted here, as a way to work around PayPal Canadian USD acct problems.

You definitely do not have to exchange out to CAD from the US based acct. I was referring to the fact that we can transfer money from our US based to our USD Canadian acct easily. So, for example I can set up my DVC dues out of the US based acct and keep that acct topped up with money I have saved up in the USD Can acct.

Hopefully that clears things up

No, but obviously it's me! I get all the above.

I simply thought you had an issue with Paypal, and US fund conversion/US banking. Obviously I read your posts from page one way too quickly.




______________________________________________________________________________________

Anyway great information for someone else on here, as some have been told from PayPal employees that they can't register a US based account to Paypal - as a Canadian customer.