Full Payment is Now Here
Deposit Only -> Full Payment
Nomad Stays is proud to announce that we’re extending our Full Payment system to more partners.
The Full Payment system allows a client to pay in full for thier booking in 1 single payment.
We will then transfer the agreed wholesale price to your approved bank account.
What’s Changed?
Our traditional system was one where we collected a Deposit from a client equivalent to our fees, and then the client paid you directly for the balance of thier booking. A 2-step payment solution in effect.
Now, with Full Payment, a client can pay in full (for selected Stays) in one single action.
So, no more double payment by nomads. Now its just a single payment by a nomad. A signficant saving of having to run around and collect cash, or pay again before they get access to their room.
Am I Eligible
Stays with 7 or more rooms in approved countries and currencies can now apply for Full Payment.
Check the critieria carefully to make sure you meet the KYC and KYB rules and laws: https://help.nomadstays.com/989383-Full-Payment-System
Full Payment is available in the following currencies:
- “Australian Dollar (AUD)”,
- “Bahrain Dinar (BHD)”,
- “Canadian Dollar (CAD)”,
- “Chinese Yuan (CNY)”,
- “Czech Koruna (CZK)”,
- “Danish Krone (DKK)”,
- “Euro (EUR)”,
- “Hong Kong Dollar (HKD)”,
- “Hungarian Forint (HUF)”,
- “Indian Rupee (INR)*”,
- “Indonesian Rupiah (IDR)*”,
- “Israeli Shekel (ILS)”,
- “Japanese Yen (JPY)”,
- “Kenyan Shilling (KES)”,
- “Kuwait Dinar (KWD)”,
- “Malaysian Ringgit (MYR)*”,
- “Mexican Peso (MXN)”,
- “New Zealand Dollar (NZD)”,
- “Norwegian Krone (NOK)”,
- “Omani Rial (OMR)”,
- “Philippine Peso (PHP)*”,
- “Polish Zloty (PLN)”,
- “Qatar Rial (QAR)”,
- “Romanian Leu (RON)”,
- “Saudi Riyal (SAR)”,
- “Singapore Dollar (SGD)”,
- “South African Rand (ZAR)”,
- “Swedish Krona (SEK)”,
- “Swiss Franc (CHF)”,
- “Thai Baht (THB)”,
- “Turkish Lira (TRY)”,
- “Ugandan Shilling (UGX)”,
- “UK Sterling (GBP)”,
- “United Arab Emirates Dirham (AED)”,
- “US Dollar (USD)”
When Do I See My Money?
We’ll transfer your money to your approved account a few days after a client checks in.
This ensures the client has started their contract and there are no immediate issues that could invalidate the booking.
How Much do I get?
With Nomad Stays you know exactly ahead of time how much you will receive. You will receive the wholesale price you’ve guaranteed to us in each of your Packages.
Please note: You bank may charge you fees for deposits we make into your account.
We don’t have any hidden fees, or complex calculations as the tourism platforms like to have. We operate under business standards where you tell us the price you expect and we deliver that to you.
And sometimes more… if there are extra days added to one of your packges then the pro-rata daily rate or that package is added to your booking.
What’s the Advantage of Full Payment?
With Full Payment your risk reduces knowing that the client has paid in full, ahead of time. You don’t need to worry about not getting your money at check-in time. By reducing the steps and complexity for nomads you will find your Stay is more appealing than others in a competitive situation.
For digital nomads, Full Payment cuts the payment process down from 2 payments to 1 for digital nomads. It simplifies their administration and saves them time.
It also means they can pay with their cards and not have to worry about having the card handly, with enough funds, or having cash available on checkin. If they’ve just arrived in a new country they could be stressed, tired or confused or may not yet have access to the internet in order to arrange their online banking. Paying up front saves all this.
What else shall I consider?
You might want to enhance your listings & competitive situation by looking at your Cancellation Policies.
With cancel-at-any-time being popular with overnight hotels you could consider moving from Limited to either Full or Flexible Cancellation Policies.
Flexible Cancellation is a great middle ground for longer stays where you don’t want to run the risk of losing a large, long booking at the last minute.
Flexible Cancellation gives the prospective client some extra time to change their mind but locks them in with adequate notice to you. Flexible Cancellation is a ‘like for like’ system. It means that clients can’t cancel within 10 days for a 10 day booking. Or can’t cancel within 1 month for a 1 month booking.
After paying in full and facing a significant loss once they move into the non-cancellation period most poeple think twice about cancelling at the last minute.
what if I’m full?
Your availability doesn’t change with Full Payment. You’ve already guaranteed us your availability via your ‘Free Sale’ or ‘Online Calendar’ so we know you have a room available.
Plus you’ve already guaranteed us your rate via your Packages.
Our system doesn’t allow the sale of room that you’ve notified us as not being available.
If you’re still over booked when you receive our confirmed booking it means you have some problems with your calendering system and you should call upon on your Overflow System to establish how you’re going to deliver the booking to the client.
How do i move to the ‘Full Payment’ system
- Check your eligibility https://help.nomadstays.com/989383-Full-Payment-System
- Send us a copy of your bank statement for the account you wish to register with a request to move to Full Payment
- We don’t need to see the transaction so feel free to hide these
- We’ll check these and switch your account over to Full Payment when its all approved.
