Best Bank For Airbnb Business: Top Providers (2024)

If you’re a host who has been lucky enough to discover the world of Airbnb hosting, the bank you choose can influence how smoothly you process transactions, manage expenses, and grow your Airbnb business.

We'll also include Wise Business in this list, which has become a great banking alternative for international business.

Need to receive funds from international customers?

Learn more about the
Wise Business account >>

Trustpilot: 4.2/5 average - Great rating¹
No minimum balance required and no monthly fees
Over 300k+ businesses customers use Wise globally each quarter

Best bank for Airbnb business (includes non-banks)

Interested in improving your Airbnb venture's financial standing? Whether you’re looking for more seamless transactions, potential interest rates, or feature-rich business solutions - a new banking partner might be exactly what your Airbnb business needs. Let’s go over some of the best banks for Airbnb business owners.

Wise Business

Known for its simplicity and low fees, Wise is an excellent choice for hosts who want an international account with appealing exchange rates and global money transfer services.

Features

• International business account – Hold and convert over 40 currencies
• Get local account details get account details in global currencies (USD, GBP, EUR, CAD, AUD, JPY, and more) so you never lose money through Airbnb conversions.²
• Mid-market currency exchange rate – Convert money into the currency of your choice at the real exchange rate with no markups.
• Accounting app integration – Sync your Wise Business account with popular accounting software like QuickBooks and Xero.
• Pay by link: – Generate a payment link that gets you paid easily
• Interest Feature: – If you’d like to earn 4.85% annual percentage yield (APY)¹ on your USD balance while you expand your business, you can opt-in to our interest feature for Wise Business.

Pricing

Wise operates on a transparent pricing structure with no monthly or recurring fees. Fees for converting money start from 0.43%. ⁴

Want to receive Airbnb or Booking.com funds and save on fees and cross-currency transfers?

Learn more about the
Wise Business account >>

If you’d like to earn 4.85% annual percentage yield (APY)²³ on your USD balance while you expand your business, you can opt-in to our interest feature for Wise Business. When you opt-in to earn interest in your USD balance account, you get the security of up to $250,000 in passthrough FDIC insurance on your USD balance from our Program Bank²⁴ (subject to change, certain limitations apply, see Program Agreement to learn more) Your USD balance will be held with our Program Bank where Wise earns interest. We use a small portion of the interest we earn on these funds to cover our operating expenses and we pass the rest along to you. The rate we can offer is dependent upon our Program Bank, and we’ll always let you know if there are any rate changes. See our website for more details.

Revolut

Revolut is a fintech company with personal and business accounts that are useful for Airbnb hosts. Their numerous plans cater to hosts of all income levels who are looking to scale their operations.

Features

• Multi-currency business account – Send, receive, and exchange money in 25+ currencies and get borderless account details in GBP, USD, and Euro.⁵
• Integrate with apps and accounting tools – Connect your Revolut account to apps like Slack, QuickBooks, Zapier, and more.
• Revolut debit cards – Standard, Premium, and Metal cards with features that scale with your requirements.
• Interbank rate for limited transfers – Take advantage of the interbank rate for a certain amount of transfers, depending on your plan.
• Savings account with interest – Grow your money in a Revolut Savings account with up to 3.25% - 4.25% APY.⁶

Pricing

For their business accounts, Revolut has different pricing and plans for ‘Freelancers’ and ‘Companies' with higher tiers offering more benefits. Company plans require you to open an account under your business name. Apart from the Enterprise plan, there are the Basic ($0/month), Growth ($30/month), and Scale ($199/month) plans with higher or lower amounts of no-fee transfers and currency exchange limits. The three Freelancer plans let you open an account under your name. They include Basic ($0/month), Professional ($7/month), and Ultimate ($30/month).⁷

Payoneer

Payoneer is another suitable global account for Airbnb hosts to manage their funds, with competitive exchange rates and cross-border money transfer solutions.

Features

• Global payments – Make transactions in over 70 currencies and accept payments with 9 local currency accounts.^8,9
• Receive fast payouts to the Payoneer debit card – Receive payouts to your Payoneer account after Airbnb releases it within 1 - 3 hours.¹⁰
• Capital Advance – Get funding for your Airbnb business with Payoneer’s Capital Advance
• Payoneer Commercial Mastercard – Convenient debit card to spend, withdraw, and track your cash flow.
• Hold and manage 7 currencies – Supported currencies include USD, EUR, GBP, CAD, AUD, JPY, and CNH.¹¹

Pricing

Signing up for a Payoneer account is free, and there are no recurring monthly transactions. Getting paid via your local receiving accounts is free, but it’s possible that there may be fees set by Airbnb.

When moving currencies between your Payoneer balances or converting currencies, you’ll be charged 0.5% of the amount transferred plus a potential markup. Withdrawing in a local currency from a Payoneer balance of a different currency comes with up to a 3% fee of the transaction amount. For same-currency withdrawals, the fee is typically 1.50 in the currency of choice.¹²

PayPal

PayPal is arguably the most well-known international payment platform. It’s commonly used as a payout method on Airbnb – but some countries don’t offer PayPal as a payment method for reservations. Regardless, PayPal offers a fast and secure way to get paid.

Features

• Currency conversion in many currencies – PayPal supports 25 currencies in over 200 countries and regions.¹³
• Receive fast payouts – Receive payouts to your PayPal account after Airbnb releases the payout within 1 business day.¹⁴
• Business debit and credit card – Use your PayPal balance to pay in-store and receive 1% cash back rewards with the debit card and 2 - 3% on the credit card.^15,16
• Business loans – Apply for a $1,000 - $150,000 working capital loan with no credit check after 90 days of using your PayPal account.¹⁷
• PayPal Savings – Earn 4.30% APY (subject to change) on your balance in PayPal Savings.¹⁸

Pricing

PayPal fees for receiving payments can vary depending on factors like your country, account type, currency, and whether you have a personal or business account. For example, receiving a transaction to your business account comes with a 2.9% + $0.30 fee, while receiving to your personal account is free. Currency conversions come with a 3% - 4% markup, and there are fees for receiving international transactions.^19,20

Find out how Wise Business compares to PayPal on International Payments:

Do I need a business bank account for rental income?

Opening a business bank account for your rental income, particularly if you're running a larger or growing Airbnb operation, can come with numerous benefits.

It makes tracking income and expenses a lot simpler, gives you easy access to business-specific features, and separates your personal and business finances.

But for those just starting out with Airbnb or earning only a small income from it, personal accounts offered by some of these financial platforms can also be an effective option.

These accounts can provide the most basic banking needs while allowing you to separate your rental income from your personal finances.

Learn More:

Best Multi-Currency Business Bank Account

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Sources

1 - Airbnb - About
5 - Revolut - Multi-currency Accounts
6 - Revolut - Savings
7 - Revolut - Business Account Plans
8 - Payoneer Main Page
9 - Payoneer - Local Bank Account
10 - Payoneer - Debit Card Payouts
11 - Payoneer - Manage Currencies
12 - Payoneer - Pricing
13 - PayPal - Countries
14 - Airbnb - Receive PayPal Payouts
15 - PayPal - Business Debit Card
16 - PayPal - Business Credit Card
17 - PayPal - Business Working Capital
18 - PayPal - Start Saving
19 - PayPal - Fees
20 - PayPal - Merchant Fees
21 - Western Union - Financial Information
22 - Aribnb - Western Union to Receive Payouts
23 - 4.85% Annual Percentage Yield (APY) on USD balances is current as of 01/01/2024 and is subject to change see Program Agreement for details
24 - Feature not available to residents of New York or Alaska at this time. Please see eligibility criteria.
25 - The current Program Bank is JPMorgan Chase Bank, N.A., see Appendix 1 of the Program Agreement for the most updated list of Program Bank(s). Eligible customers must opt in to the interest feature. Participants will have the balance of their USD funds held in their Wise Account "swept" into a Federal Deposit Insurance Corporation ("FDIC") insured interest-bearing account at one or more participating banks (each, a "Program Bank") that will hold and pay interest on the deposit funds. For more information on FDIC insurance coverage, please visit FDIC.gov. Customers are responsible for monitoring their total assets at each of the Program Bank(s) to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The Program is not intended to be a long-term investment option, checking or savings account, investment contract or security.