Security deposit is collected in the form of authorization (hold). The maximum holding period for Stripe users is 28 days for Visa and 30 days for Discover/MasterCard/Amex or 7 days for other cards.
Once a booking ends, the Security deposit is automatically released 3 days after checkout.
In ChargeAutomation, there are 3 ways of collecting a security deposit
How to Set Up Auto Collection of Security Deposit
Go to Settings > Account Setup > Auto Payments. Select the Booking Source and
customize the security deposit section. Example below
What if the stay is longer than the hold period?
You can select Automatically reauthorize every seven days. The system will keep re-authorizing until the end date (checkout date). Once the booking ends, the Security deposit is automatically released 3 days after checkout.
How it looks to the guest?
How it looks when security deposit is scheduled to be collected?
How it looks when a security deposit is Authorized
Select the booking and you'll see below the security deposit amount the status "Authorized" and it's colored Green. If you expand the booking, you'll also see the date when it was authorized.
How it looks when a Security deposit is still not paid by a guest
How to Capture or Release a Security Deposit?
On the dropdown arrow of the Security deposit charge, select Capture or Release. You can choose to manually release the Security deposit after checkout or wait until 3 days and it will be automatically released by the system.
How to set different Security deposit amounts per property?
Go to Settings > Properties then select the property you want to set a different deposit amount to be collected then choose "Per Property Settings" then set your new auto payments rules including the security deposit.
What Happens When the Deposit is released?
When a Security Deposit is released, either automatically or manually, one of two scenarios will occur.
If the Guest used a regular credit card
The hold that was originally placed, and likely appeared as a "Pending Transaction" in the online banking account, will simply go away as though it never happened. There is no 'refund' that occurs and they won't see a 'transaction' from when the hold was originally placed.
If the Guest used a Visa-Debit or Mastercard-Debit type card
The cardholder will have seen the money come out of their account when the hold was placed. The money was withdrawn by the card issuer so that they could guarantee that the funds remained available for the duration of the hold. Those funds are being held by the card issuer.
The cardholder will see a refund in their account. This will take approximately 7 business days to occur after the hold was released, whether that happened automatically or manually.