An overview on security deposits in Twice
Security deposits work as a risk management tool for you for example in the case of damaged items or late returns. With Rentle, you’ll be able to enable deposits on a product level and there are two ways security deposits can be used with Rentle.
Both options will allow you to communicate to your customers at the point of booking that a deposit is required and how it will be reserved.
Deposits and their status are always visible for staff member when opening an individual order.
On this page
Manual security deposits
- Manual deposits are available on the Discover, Build and Advance Plan.
- Twice will not reserve any funds. Deposit needs to be manually reserved outside Rentle, e.g. in cash.
- Manual deposits allow you to communicate at the point of booking that a deposit will be reserved upon pick-up.
- Twice’s order view will allow you to keep track of any reserved deposits and remind you to return them.
Automatic security deposits
- Automatic security deposits are available on Build and Advance Plan.
- Twice will automatically pre-authorize the defined security deposit from the customer’s payment card before the booking begins.
- together with Twice Payments and Stripe and when the customer pays by credit or debit card.
Note: Pre-authorized security deposits via Stripe are limited to 7 days and with Twice Payments to 28 days. After that time period, the deposit will automatically be cancelled and sent back to your customer.