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How is My Security Deposit Processed?

  • Updated

Your $500 Security Deposit at evee

As part of our commitment to prioritise safety and security and to provide a seamless rental experience, we authorise a $500 security deposit on your default payment method 24 hours before the commencement of your booking​.

 

The Process

The security deposit acts in the form of a bond for the host, safeguarding the interests of all parties involved. Here's how the process works:

  1. Authorisation: 24 hours before the start of your booking, evee authorises a hold of $500 on your default payment method. This is not a charge, but a pre-authorization hold to ensure that funds are available if needed​​.

  2. Rental Period: The $500 hold remains throughout your rental period.

  3. Post Rental: 48 hours after the completion of your rental, provided the car is returned in its original condition with no reported damage, the $500 hold is released​.

  4. Bank Statement: The pending transaction for the security deposit will disappear from your bank statement in 5-10 business days, depending on your bank's policies and procedures​.

What if Damage is Reported?

In the unfortunate event that your host reports damage upon the return of your rental, evee will capture your security deposit until the matter is resolved​​. This means the pre-authorised amount will be converted into a charge, which will be refunded once the issue is settled.

If major damage is sustained to the car and a claim is required, your security deposit will be deducted from the remaining damage liability amount.

 

Insufficient Funds

If you do not have sufficient funds in your account when the security deposit pre-authorisation is attempted, our system will automatically retry the transaction every 4 hours until it is successful. Your host will be notified if the security deposit fails to process and the booking cannot proceed.

If sufficient funds are available and you are still experiencing trouble processing the security deposit authorisation, please reach out to our support team as soon as possible at support@evee.com.au so that we can provide further assistance.

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