Alternative way to take a security bond in a rental company - Josh Loe

Alternative way to take a security bond in a rental company

Currently we take a bank transfer as a bond and this is refunded back to the clients account once we receive the rental items back. But it really skews the books to take such a high amount on money that we don’t actually get to keep and it’s time refunding to all the bank accounts each week. I’d like a simple alternative.
Since we are online based with all our bookings I’m not sure if a credit card number is a good alternative since we’d need a time friendly and secure way to take and store that info which may be a bit of a hassle. And then who knows if the number is legit. Would hate a scenario of unreturned items and then being unable to charge the card.

Any similar businesses with good systems in place for this? Or any other suggestions?



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