How do I take a deposit through GetMyBoat?
It's important to know that GetMyBoat does not charge customers a typical security deposit. Customers are charged for a booking in full when they accept an offer. That is the full price of the booking. However, GetMyBoat does have a security allowance. The security allowance largely acts as a deposit for charges that may occur during a rental.
Why doesn't GetMyBoat take traditional deposits?
Most of the time, deposits are used for the following:
- To reserve a watercraft and make sure a customer is serious about booking
- As security in case there are any issues that come up during the rental
- Making sure you get paid if a customer cancels within a certain time period
Because GetMyBoat charges the renter in full at the time of your offer being accepted, there's no need to "hold" a deposit. We already have charged the customer the full amount for the trip and are holding the full payment for you.
Since we already have the funds, if a customer cancels you can still be paid out a portion of the booking price per the terms of your cancellation policy. Be sure your cancellation policy is up to date and is very transparent to customers so they know what the conditions may be if they choose to cancel. You may update your cancellation policy under the "pricing" section of your watercraft listing.
Finally, if there are any minor damages or post-rental charges in which you would normally apply a security deposit, we have a security allowance in its place. The security allowance is set in your listing and works very much like a deposit. If you wish to file a claim for a portion or full amount of the allowance, you would need to notify GetMyBoat within 48 hours of a trip being completed and provide any necessary documentation. At that time, GetMyBoat will investigate the claim and issue a payout based on the findings.
We always try to resolve any claims within one week, though some cases do take longer.