The Traveller Reviews Awards 2023 are here.

It’s time to celebrate our winners! Use your property ID to find out if you’ve won and download your award kit.

Find out more

I'd like to set up a prepayment deposit. How can I do this?

Updated 1 month ago

Not to be confused with a damage deposit or credit card pre-authorisation, a prepayment deposit is when you charge a guest for their reservation in advance.

If you accept credit cards, you can charge a prepayment on the card the guest booked with. You can charge either the full amount or a partial amount, but the amount should be the same as the amount stated on the booking confirmation.

How to set up a prepayment deposit:

  1. Click on the ‘Property’ tab, then ‘Policies’.
  2. Under ‘Cancellation and prepayment policies’, click ‘Edit’ to update an existing policy or select ‘Create a new cancellation policy’.

If you don’t accept credit cards but want to charge a prepayment deposit, you’ll need to contact the guest to arrange the payment. To keep things simple, decide on a payment deadline and inform the guest – you can even set up a message template to save yourself time.

Alternatively, you could set up a cancellation policy, where guests pay a set percentage if they cancel after a certain date. That way, you won’t have to worry about returning money to all the guests who don't stay – and your property may be more appealing to other potential guests who would rather not pay anything up front.

You can set up a range of cancellation policies – all of which give you control over how much your guests pay, and when.

Note: If you’ve just recently become a partner, there may be a temporary restriction on prepayments for your property.

Is this article helpful?