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Guests on short-term rental platform Airbnb who opt to pay using a different currency from the host’s currency will have to cough up an additional two per cent of the booking total before taxes effective April 1, 2024.
The newly published policy changes will come into effect for existing users on March 28th, 2024 and users post this date will have to agree to the new terms or delete their Airbnb accounts.
“Starting April 1, 2024, for cross-currency bookings, the guest service fee will include an additional amount of up to 2 percent of the booking total before taxes,” read the Airbnb notice in part.
“This will be applied when the currency the guest uses to pay differs from the currency that the Host sets for their listing. See Airbnb Service Fees in the Help Center for further information.”
Hosts incur service fees for using the platform to cover the operational costs of the listing site and services such as customer support, secure payment processing, and the development of new features.
Guests are charged cleaning fees, extra guest fees for the number of visitors, security and cancellation fees among others.
Financial Fortune is a digital financial news website and print business magazine published in Nairobi by Fortune & Transit Publishers Ltd and covers the financial services sector through news, views and extensive people coverage since 2018.