- Joined
- May 20, 2006
- Messages
- 47,369
- Reaction score
- 18,932
- Points
- 1,299
- Location
- NE Florida
- Resorts Owned
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Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
I suspect you were perhaps the test case for this. It sounds like an issue with Stripe and how they interact with Canadian bank accounts. Too bad about the bad information from KOALA. However, US denomination account doesn't mean it is a US based bank account at a US financial institution. The account is technically at a Canadian institution. So they convert to Canadian dollars then the bank converts it back to US$ for the US$ based account. Probably a lot easier just having it sent to a regular Canadian bank account and being paid in Canadian dollars.DO NOT USE KOLOA IF YOU ARE CANADIAN
I rented an April week and getting paid has been an absolute gong show. Prior to getting set up, I had specifically asked if I could get my rental funds in USD since I have a USD account through my Canadian bank (and use it to pay all my maintenance fees). I was told no problem, as long as your account is US denomination, you'll get paid in that. Well, that definitely hasn't been the case. The Stripe account automatically converts the funds into CDN because I'm in Canada even though it's a US denomination account. You can't call Stripe and has no direct way to get live interaction other than through a public chat site where you definitely don't want to provide private banking information. Koloa has been brutal initially telling me the wrong information, then saying the banking information was wrong and directing me back to Stripe. I'm sure if I decided to accept the funds in CDN denomination we could get this resolved but I don't want to as I'll lose out on two currency exchange transactions. So if you're outside of the US, take note.
I don't think this is a reason for Canadians to not rent through KOALA, but it is information that they should know going in.
Hopefully this is something that KOALA can get sorted out with Stripe. Stripe is a very large payment processor.
One thing I don't understand about US$ accounts at Canadian institutions. If you want to receive funds from a US bank through ACH, does the Canadian bank provide a US based routing and account number?
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