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How does the security deposit work?

When you reserve a car on Getaround, a security deposit is required. The amount depends on the category of the vehicle and the rental details, but can by lowered by purchasing a reduced excess option.

The security deposit is a pre-authorisation, which means the amount is not actually debited from your account, but merely frozen there. It will only be debited in the event of a problem.

Usually the security deposit appears in your pending transactions, however it may appear on your bank statement, even if it hasn’t actually been debited. Other banks might not show the deposit on your statement.

Please note that the security deposit may impact your spending limit. If payment is declined by your bank even though you have enough money in your account to cover both the security deposit and the price of the rental, it probably means you’ve reached your limit. If this happens, contact your bank to have it increased so you can proceed with the payment.

The deposit is automatically released four days after the rental has ended, or immediately if the rental is cancelled. However, it may take a few days to disappear from your bank account. If it has not disappeared after several days, please contact your bank.

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