Hi, can someone explain to me the process each month if you want to keep the car? When is payment taken for the next month of use?
Hey. Your monthly renewal amount will be pre-authorised (held as a pending transaction) one week prior to renewal, and then the funds will actually be taken on the renewal day itself.
You can find more on Onto’s FAQ page. Take a look specifically at the “How does pre-auth work” Section.
Yeah basically what @Koda said but to put it a easier way:
My renewal date is the 8th of each month.
My payment date is the 1st of each month.
Also, not that you should make a habit of this but the system is automatic and will take payment around the exact same time you originally paid on that first booking. Although if it declines, the system will try once again in the evening that day then again every day until the penultimate day. I only know this as a stupid person I am I forgot to put the funds into the account for the renewal. Thankfully I had a notification from Monzo and dropped it in, the funds got taken later that day. Mini heart attack on the phone to ONTO, but they explained the above.
I suppose if the day of the month that your ONTO subscription leaves your bank account is critical, it would be best to choose a renewal day that is at least seven days after that date.
I wonder if this is explained to new subscribers. With the present economic situation, there must be quite a few that would prefer the sub taken just after payday, rather than just before. In which case it could be better to delay delivery to coincide with that.