Getting paid is important, and at Evolve we do everything we can to make sure our owners’ vacation rental earnings are transferred in a timely and secure manner.
All Evolve bookings are processed via credit card, requiring owners to have a secure merchant account with our payment processing partner, Stripe. Here’s how we work together to collect guest payments once a booking is made, and what owners should expect throughout the payout process.
1. Connecting with Stripe
We create a Stripe account for you when you get started with Evolve in order to safely process guest payments. We also oversee the account on your behalf, so there’s no need to worry about account management or communicating with Stripe directly.
2. Verification Checks
To prevent fraudulent attacks on owner payout accounts, random verification checks are conducted to confirm the identity of owners. When these happen, Evolve will reach out via email to request additional documentation from you. We will need:
- Identification document such as a copy of your individual driver’s license or valid passport
- Business registration document including an IRS-issued Confirmation Letter SS-4 or 147-C (if applicable)
- W-9 providing your full Social Security Number (SSN) or Employer Identification Number (EIN)
These documents must be delivered to Evolve within 3 days. If they are not received in time, your Stripe account may be disabled until the documentation is provided, which will temporarily pause your payouts. We recommend having the above-listed documents readily available so you can share them quickly as needed.
3. Payout Timing
Booking payments are generally released to your bank 2-4 business days after a guest’s check-in date (with the exception of rare scenarios that might impact payment like a paused account or guest chargeback). Depending on your bank, it then takes 3-5 days for the money to appear in your account. That means owners can expect to see payouts appear as direct deposits 5-9 days after a guest checks in.
Please note: if you have multiple guest payments processed on or around the same date, they may appear as one combined deposit in your bank account. Use the “Completed Payouts” tab on the Financial Reporting page of your Owner Account to verify exactly which bookings were paid out.
If you have additional questions, please submit a request or chat with us through your Owner Account, or give us a call at 877.818.1014.
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