Understanding the Release of Your Deposit

Wondering when and how your deposit will be returned after your Virtuo rental? This guide explains everything you need to know about the deposit release process, including timelines, what to expect on your bank statement, and how to check the status of your deposit.

When Will My Deposit Be Released?

After you return your Virtuo vehicle, our team conducts a detailed inspection to ensure the car is in good condition. This includes reviewing any damage reports submitted during your rental period.

Release Timeline: It may take up to one week for us to process and release your deposit. This timeframe allows us to validate any reported damages and settle your account.
Please note that if you reported any damages during your rental, the deposit release might be delayed. We need time to assess and validate the damages before releasing the deposit.

No Damages or Outstanding Charges

If there are no damages or outstanding charges, your deposit will be automatically released after the inspection. You will receive a confirmation email notifying you that your deposit has been released. This email indicates that the inspection is complete and any holds on your deposit have been lifted.

When Will the Deposit Reflect in My Bank Account?

After we’ve released the deposit, it may take up to seven business days to appear in your account. Processing times can vary depending on your bank or card issuer.

Authorization Hold vs. Refund

The deposit is usually placed as an authorization hold on your payment method, not an actual charge. This means the funds are reserved but not deducted from your account. Once the deposit is released, the authorization hold will disappear from your pending transactions.
You may not see a separate refund transaction because no funds were withdrawn. Since it was an authorization hold, there’s no payment to refund, and your available balance will adjust accordingly.

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