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. The deposit can’t exceed the amount of your excess for the rental.

Please note that the amount of the security deposit may be lower if you buy an excess reduction option.

The security deposit is a pre-authorisation, permitting Getaround to debit your account up to this amount in the event any issues arise. That means no money will be debited, unless there's a problem. If there is, we can debit your account up to seven working days from the point of reservation.

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. Some banks might not show the deposit on your statement.

The deposit is automatically released seven working days from booking. It might take 1-2 days for your bank to process this.

Upon cancellation of a rental, the deposit will be automatically released.

The security deposit can take a few days to be released on your bank account - if the funds are still unavailable after 7 days from booking, please contact Customer Service for further assistance.

Please note that, when paying for your rental, the amount of both the rental and deposit must both be available on your card. If payment is declined by your bank, even though you have enough money in your account to cover the rental price and the security deposit, it probably means you’ve reached your spending limit. If this happens, contact your bank to increase your limit so you can proceed with the payment.

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