Payments for rentals are temporarily held during approval and only sent to the lender once the rental is completed. If a rental is declined, expires, or canceled, funds are released or the transaction reversed, with refunds taking up to 8 working days. For payment issues, contact your bank for confirmation.
When is Payment taken for a Rental?
Your payment is held whilst your rental is being approved. This is to make sure there are enough funds to fulfil the rental.
What happens if my rental is declined or expires?
If the rental is declined or expires after 24 hours your funds will be released back to you the following day.
When is my payment sent to the Lender?
If your rental is accepted, your payment will be processed to the lender when the rental has completed.
How long does a refund take?
Approved refunds can take up to 8 working days, depending on your bank. Often they are processed much sooner.
What happens if my rental is cancelled?
If your rental is canceled, the transaction is reversed. This means the original authorisation may drop off your statement entirely within a few days. In this case, there is no payment and no refund, it will appear as if the transaction never happened.
Who should I contact if I have questions about my payment?
If you have any questions about this, you should reach out to your bank for confirmation.