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Q: How can I protect myself from fraud? A: Follow the 4 tips below: #1 Never accept a check, bank draft, cashier’s check or wired money for more than the amount due for the rental. If you are offered more, immediately stop communicating with the traveler. #2 Never give out any personal information (drivers license number, social security number, etc.) #3 Never do business with international renters who wish to use an escrow service (BidPay, SquareTrade, etc.). #4 Never send a money order (MoneyGram, Western Union) or wire transfer to someone you don't know. See examples of rental email scams Q: How can I determine if there are insufficient funds in the renter’s account or if the check is a fake? A: If there’s not enough money in the renter’s account or if check is fake, your bank may not realize there is a problem until several days later. Checks written from US bank accounts take an average of one to two days to clear through a US bank. Checks written from an international bank account take an average of three days or longer to clear a US bank. Mail, weekend and bank holiday delays can add to the time for check processing.
Q: How can I protect myself from revenue losses due to insufficient funds or fake checks? A: By setting up a credit card merchant account, you can protect yourself from revenue losses. You can authorize credit cards in seconds using a secure virtual terminal through the Internet on your computer. And funds are credited to your bank account within one-to-two business days. Learn more about accepting credit cards for your vacation rental.
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