What is a deposit?
Deposit — the amount blocked on a credit card when receiving a car in order to withhold any amount from you if you handed in the car in the wrong form in which you received it, damaged the car, violated the rules and so on.
When is the deposit unlocked?
The deposit must be unlocked within 3-7 days after the machine is returned, however there are delays, it depends on your bank. According to the rules, a security deposit cannot be blocked for more than 30 days.
Credit or debit card?
Upon receipt of the car, you must present a credit card.
The rules of most rental companies indicate that debit cards are not accepted. However, in many places a car will be issued with a debit card if the operation of blocking the deposit is successful. However, they may still refuse to issue your rental car.
How to get a car without a deposit?
If you have a debit card, then you run the risk of being refused a car at the counter. To avoid this, we recommend applying for a credit card.
Thus, you use the car rental, and the bank makes a deposit!
How it works:
Get a credit card.
Present the card at the issuing desk of the rental company when you receive a car to block the deposit.
Return the car in the form in which it was taken and the deposit is unlocked.
You can cancel the card if you no longer need it.
Since only temporary blocking of funds occurs, and not write-offs, the bank does not consider this to be a loan, and in this case, you do not care what percentage of the loan is provided.
Below are some suggestions for issuing credit cards with different limits, from different banks.
As a rule, for the most popular rental companies, the deposit for an economy class rental car is between 500-600 euros, which is quite an impressive amount that you will have to stock up if you do not have a credit card.
Why most of our customers don’t even ask for a deposit amount for a rental car?
Why do they just choose the car they like at the right price?
Because practically all of them have credit cards, not debit. Credit cards are those on which you have a credit limit that you can sometimes use. Credit cards have a so-called grace period (from 40 to 150 days) - this is the period during which you do not accrue interest on the used credit funds.
A simple example:
You have chosen a car rental for 150 euros, a deposit for this car is 1000 euros. If you do not have a credit card, then you need to have 1000 euros on your bank card to block the deposit. The amount is large and the most offensive that you can not use it on your trip, of course, then it will be unlocked, but they could come in handy.
If you have a credit card with a limit of 1,000 euros, you present it at the issuing desk of the rental company and you deposit a deposit on it. Pay special attention, do not write off, but freeze! Funds remain in your account, do not look at sms, they do not know how to distinguish debiting funds from their freezing. Then you return the car in the form in which it was taken and the deposit is thawed. It turns out that you used a car rental, and the bank made a deposit for you.
Dear friends, we are not trying to sell you a loan or any other banking service, you can finally cancel a credit card after rent. In this article, we tried to explain to you how you can use the service of car rental and rental around the world and with any rental company without a deposit.
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