Is my security deposit refundable? How to release my security deposit?

If you have no active bids or pending purchases, and there is no outstanding balance on your account, the security deposit is 100% refundable. If a “bid” has been placed or you have purchased a vehicle, the security deposit is held until the auction is over or the vehicle is paid for and picked up.

To release your deposit, please follow the steps below:

    • Log into your AutoBidMaster account.
    • Click on the “Buyer Power” icon at the top of the page.

1.jpg

  • In the “Deposit Transaction History” click on release.

2.jpg

The refund will be issued in the original payment method. The release of the security deposit will reset the bidder's Buyer Power to zero. If you would like to bid again you will need to renew your deposit.

Wire transfers are refunded by a mailed check within the U.S. and Canada, and by wire transfer for international buyers. Deposits authorized by credit or debit card are not charges, but appear in the form of pending transactions. Upon our approval, your financial institution will clear the pending charge.

Deposits made by wire transfer, however, remain in your account until you request a return or choose to apply it to applicable fees and purchases.

Please Note Once the hold on your credit card is released, your buyer power will be set to zero. To bid on another auction you will need to place another deposit.

Was this article helpful?
126 out of 155 found this helpful
Previous
Next

Have more questions? Submit a request