Do I have to leave a security bond for my rental car?
Car rental companies will require you to leave a bond, which is an amount of money frozen on your credit card. Providing there are no additional charges — or damage to your vehicle — at the end of your rental, the bond will be returned to the same card.
How much is the bond on a hire car?
The security deposit amount varies according to the rental car provider, the rental location, and the type of vehicle you are hiring. Some vehicles may require a bond of $100, while others may be $1,100. The policy conditions vary from one provider to another — the details are displayed in the “Important Information” box during the booking process on VroomVroomVroom, as well as in the car rental provider’s Terms and Conditions.
Paying with a debit card
Not only does the bond amount differ between depots, but it can also vary depending on what payment method you are using. If you’re paying with a debit card, the bond amount may be larger.
How long will it take for my bond to be returned?
There is considerable variance between rental car providers regarding how long it takes for the bond to be released from your credit card. After you’ve returned the vehicle, provided there is no extra damage to the car, it can take anywhere from 3-10 business days — in some cases even longer — for the bond money to be available in your account. The amount of time it takes also depends on your bank. Please see below for some examples from different hire car providers.
Avis & Budget: Depending on your bank, the refund of the bond may take up to ten business days, or up to 28 business days for foreign cards.
East Coast Car Rental: This will be processed as a pre-authorisation on the renter’s credit card. Depending on your bank, the pre-authorisation may take up to 31 days to be released as available credit in your account.
Enterprise: Renters can generally expect their bond to be returned within five to ten business days.
Europcar: The refund should take around seven to 14 days, however some building societies may hold the bond for up to 30 days.
Hertz: Depending on which bank you are with, the refund of the bond can take anywhere from two to ten business days.
Thrifty: The deposit will be refunded into your account within three to five business days, depending on your bank.
For example:
David pays the bond for his rental car in Sydney
David rents a car from Sydney Airport. When he arrives to pick it up, the car rental company representative informs him that they will need to freeze an amount on his credit card as a security deposit. David is hiring a compact car, so the deposit amount is just $200. The car rental company representative informs him that this amount will be returned to his card when he returns the vehicle, provided there is no extra damage to the car.
For example:
