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Deposit hold

I own a kayak and paddle board rental business. I require a $60 deposit in case of any damage to my rentals. Is there a way to hold this charge without actually charging my customers cards? That way I can release this payment back to them without waiting the 2 to 7 business days for a refund of the charge? 

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Square Champion

@AZPaddleJunkie I spent a little time researching other threads on this subject.  From what I gather, there is no “refundable deposit” mechanism in Square, yet.  Here’s a rather long thread, and there are others if you search for “refundable deposit” — https://www.sellercommunity.com/t5/Square-Point-of-Sale-app/Beating-a-Dead-Horse-but-it-needs-to-be-...

 

The upshot of my research is that you will need to separately charge the customer for the deposit, then refund it if everything is returned without damage.  Also, you didn’t ask, but it might help to know that Square does not “ding” sellers who have such refund activity.  Some merchants do, but they don’t seem to hold that against you, probably because of this issue.

 

Sorry I don’t have better news.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
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