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What are security deposits? | How do they work? | Why do they need to be left on a credit card? | I don’t have a credit card… | Why do Zest ask for this when other brokers don’t?
What are car hire security deposits?
The main purpose of security deposits in car hire are to:
- Ensure the safe return of the vehicle
- Protect the provider against the cost of any traffic violations or motorway toll charges received on rental
- Protect the provider against the cost of any damage to the uninsured parts of the vehicle
Security deposits are a simple way for car hire providers to protect themselves during a rental. They can range can vary however based on the type of vehicle you are booking, however, most are between £500 and £1000.
They’re taken, most of the time, when collecting the car and released back to you when the car is returned. Unless some cost has been accrued in any of the above or other ways. In which case some or all of the security deposit may not be released back.
Should the cost of any or all of this add up to more than the security deposit, you may be charged the extra up till the amount of the excess of the vehicle.
If CDW (what does CDW mean?) wasn’t included as standard, you could be liable for the full cost up to the value of the car. With CDW though, you’re only ever liable up to the excess. Unless you book with Zest that is, with us, you’ll never be left out of pocket for this excess since every booking comes with either Excess Reimbursement insurance or No Excess.
How do car hire security deposits work?
In most cases, security deposits are required to be left on a credit card in the name of the main driver when picking up the card.
The provider will require the physical credit card to be valid, not expired, have the value of the security deposit available, and you’ll need to know the pin for that card. It’s also essential that the credit card is in the name of the main driver.
This enables the car hire provider to authorize the amount of the security deposit. This means you need to be aware that these funds will not be available to you for the duration of the rental.
If there has been a cost accrued on rental, then the cost of these will be deducted from what is released or refunded back to the card.
Why do security deposits need to be left on a credit card?
Credit cards allow for funds to be held or ring-fenced in a way that debit cards do not. The majority of the time will use a pre-authorisation which is only available on a credit card (on some occasions though, the car rental provider will debit and refund the security deposit instead). A credit card also provides you as a customer much more protection than using a debit card.
Some providers do offer a no deposit option or the option to leave a security deposit on a debit card though, which brings us to…
I don’t have a credit card to leave a security deposit on.
Fear not, some providers do offer the option to either have no security deposit (depending on the provider though, a credit card might still be required, be sure to ask!) or allow you to leave the deposit on a debit card.
To find providers who don’t need a security deposit, you can use the filter button on our search results page.
If in doubt or have any questions, give our customer service a team a call on 01362 85 22 88 or use the live chat option on the search results page and they’ll be able to help.
Why do Zest ask for security deposits? I don’t see it on other car hire brokers and providers?
Put simply, just because you don’t see it listed clearly on other brokers or provider’s sites, it doesn’t mean it’s not required.
Security deposits aren’t something taken by Zest, they’re required by the car hire providers. This means most other brokers and providers have the same requirement, it’s simply that it’s not shown as clearly during the booking process.
Often, brokers and providers will hide the security deposit behind a “more info” or “Rental Terms” button. If you’re looking at another broker or provider for a car, make sure to have a good look around in the terms and conditions too if you don’t see the security deposit listed anywhere.
