Extend Deposit pre-auth (save money)
complete
Vince Breslin
A better solution when collecting security deposits is to use pre-auth for all booking durations.
How it will work:
- Collect pre-auth for all bookings
- If booking is 7 days or longer, attempt to re pre-auth on day 7 (before pre-auth expires).
- If successful, repeat in 7 days time
- If unsuccessful take full payment
In theory a significant number of pre-auth attempts will be successful and only those that are unsuccessful will result in a full payment and a transactional charage.
Vince Breslin
complete
UPGRADE! Save money on Security Deposits with smart holds.🤑
We've upgraded the security deposit collection feature to save you as much money as possible.
I tried to create a diagram without overcomplicating the concept! The blue checks indicate when the hold is automatically released in the example booking durations.
// What's New
- Uplisting takes a hold (pre-auth) for all bookings
- If the booking is 5 days or longer, Uplisting attempts to re-auth on day 5 (before the hold expires).
- If successful, repeat every 5 days.
- If unsuccessful, take full payment.
The basic idea being the need to take a full payment is significantly reduced, saving you refund transaction fees.
Mark Petrillo
Vince Breslin: Nicely done.
Vince Breslin
Merged in a post:
Security Deposit Stripe Fees Issue
Charles Hura
It seems security deposits are automatically charged for reservations longer than 7 days. But for me, refunding this costs about ~$42. If I have a $999 security deposit, Stripe does not refund the original fees. Is there a way to not be charged $42 for every security deposit with a stay greater than 7 days? The only way I see now is to not charge a security deposit?
Vince Breslin
in progress
We have started working on this feature.
How it will work:
- Collect pre-auth for all bookings
- If booking is 5 days or longer, attempt to re pre-auth on day 5 (before pre-auth expires).
- If successful, repeat in 5 days time
- If unsuccessful take full payment
Mark Petrillo
Vince Breslin: What would cause a pre-auth to be unsuccessful? If that happens (insufficient funds, for example), won't the charge then be unsuccessful too?
Vince Breslin
Mark Petrillo: the original pre-auth will always be available to collect.
We won’t release the first pre-auth until the second is attempted. If a guest had $200 available on their card and $200 is taken by the guest pre-auth then a second $200 won’t be possible. This is a scenario where the second pre-auth fails.
Mark Petrillo
Vince Breslin: I get it. Very simple. I have no idea what I was thinking earlier today. :)
Vince Breslin
planned
We're planning on starting this feature soon.
Charles Hura
I believe the pre authorization for a security is 7 days from the guest check in...i had a guest stay for 5 days, which only left me 2 days post stay to check if there was damage...my cleaner didnt arrive until a few days after that and found damage, at which point, i have no security deposit protection? Can we have it set so we have 7 days post booking to collect security deposit?
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Mark Petrillo
This would be great.
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Nathan Welton
Yes please. Also is there a way to do a preauth for bookings and then charge a few days before check in so we don't eat the 2.9% if there's a refund? On a big booking that's very significant. Vince Breslin
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Test Test
Nathan Welton: Yes!!!!!!!!!!!!
l
laura oxman
Please