What is Credit Card Pre-Authorisation?
When you make a Rental Request - we “pre-authorise” your card (for the amount of the Rental Fee only), for a maximum of 24 hours - or - until the booking is confirmed or declined by the Renter (the item’s Owner).
What is a pre-authorisation?
We allow Renters to accept or decline rentals. Because of this (and for your convenience), we don’t want to charge you for your rental until we know that it is available for your selected dates.
However, we do “pre-authorise” your card for the amount of the Rental Fee (never any more than this). During this period of “pre-authorisation”, the amount of the Rental Fee will be held by us and appear as unavailable to you. Basically, it means that the amount has been set aside for us to charge you if the rental is accepted. If it's not, we don't charge you.
It's important to note that the pre-authorised amount may appear on your Credit Card statement and, if the rental is not accepted, it may take up to 5 days (depending on your bank) for it to disappear from your statement again. Please note if you are with Westpac or ANZ they can take 7 business days or more to release the held amount.
If the item is accepted by the Renter, you will be charged, and vice versa - if it is declined, you will not be charged and your funds will become available as soon as possible.
How long do Renters have to confirm my rental?
If there is no action from the Renter, the funds will be released immediately, you will not charged and the Rental will be automatically cancelled.