How Do I Create a Security Deposit?
The Security Deposit feature lets you generate a link for an amount without capturing it for a defined period. The amount is released if it is not needed.
The Security Deposit feature lets you generate a link for an amount without capturing it for a defined period. The amount is released if it is not needed.
A Security Deposit is a financial guarantee you request from your customer as a commitment that they will comply with the terms of their reservation.
It works like a "security fund": you ask your customer for an amount of money to cover potential issues and cancellations during the term of the agreement. Our Security Deposit feature does not capture the amount during the period you specify, allowing you to release it if it is not needed.
To create a new Security Deposit:
Click Deposit Links
Click + Create New
Complete the form
Share the link with the customer
Once the customer enters their card details, the Security Deposit will appear on the Security Deposits screen until you release it or capture the amount due to noncompliance.
+ Create New displays the form you need to complete to set up the Security Deposit.
| Option | Explanation |
|---|---|
| 1. Currency | Select the currency in which you want to charge your customer. |
| 2. Amount | Enter the amount assigned to the Security Deposit. |
| 3. Reference | Use this field to include the reason for or details about the transaction. |
| 4. Restrict to one customer | Enable this only if the Security Deposit will be used once by a single customer. When you enable it, a section will appear in the form where you can enter the customer's details. |
| 5. Customer Details | Your customer's details, so the Security Deposit can only be used once. |