At the time you book, $250 is 'frozen' in your account. It will automatically be released 7 days after the date you booked. You won't see a refund on your statement. We'll only do this twice per borrower.
When you book, we place a hold (pre-authorisation) on your credit card or debit card. At the same time that we send instructions to your bank to hold the funds, there is a simultaneous electronic instruction for your bank to release it from their system back into your account after 7 days.
We do not receive the funds from your bank, and we cannot return them to you before the end of the 7-day period - once the pre-authorisation is placed, it is an automated process controlled entirely by your bank.
Your $250 pre-authorisation will be released 7 days after you book. You won't see a refund on your statement.
It's been 7 days and my $250 hasn't been released
In most cases, your credit card pre-authorisation will automatically expire 7 days after it was placed. When this happens, you will not see a new transaction showing a refund or deposit from Car Next Door of the pre-authorisation amount.
If you check your credit card statement once the pre-authorisation has expired, you won't be able to see the original transaction of the pre-authorisation being taken, either.
For debit cards, the amount will show as being deducted from your account (though it is not paid to us) and then you will see your balance go back up when the pre-authorisation is released. If the statement text shows "Authorisation Only", "Pending" or "Not Settled" it usually means the pre-authorisation is still effective and we have not yet taken the funds. This should disappear in 7 days. We will always tell you via email if we have captured the pre-authorisation.
Some banks and credit unions, such as Commonwealth Bank, take longer than 7 days (sometimes up to 30 days) to make the funds available in your account. Please contact your bank to ask about their policy.
More about the pre-authorisation:
Will I need to pay a deposit or credit card pre-authorisation when I book?