Deposits

Deposits in Loopit are a flexible and secure way to manage upfront payments for car subscriptions and rentals. They serve as a safeguard against potential damages, excess charges, or unpaid invoices. This feature provides a seamless process for configuring, collecting, and managing deposits, ensuring both you and customers have a clear and transparent financial agreement.

Key Features of Deposits

1. Customisable Deposit Amounts

   • You can set a default deposit amount for all bookings.

   • Deposits can also be adjusted on a per-customer or per-booking basis, offering flexibility for individual circumstances.

2. Secure Collection and Management

   • Deposits are collected during the booking process and stored securely within your payment provider.

   • Payment methods such as credit cards and direct debit are supported.

3. Editable Refund Amounts

   • When processing a refund, you can choose to return the full deposit or a partial amount.

   • This flexibility is useful for covering damages, excess mileage, or other costs before refunding the remaining balance to the customer.

4. Transparency for Customers

   • Customers are informed of their deposit requirements upfront during the booking process.