1.What is the BenPay Card Security Deposit?
The BenPay Card Security Deposit is a security fund paid when applying for a card. It is used to enhance the stability of card transaction settlement and help manage certain transaction risk scenarios.
2.Is the Security Deposit the Card Issuance Fee?
No. The Security Deposit is not the Card Issuance Fee.
The Card Issuance Fee is the fee charged for applying for a card, while the Security Deposit is a security fund used for card service protection. Both amounts will be displayed separately on the card payment page.
3.Will the Security Deposit Affect My Regular Spending?
No.
Your daily spending will continue to be deducted from your card balance. The Security Deposit will not be used for regular payments.
4.Can the Security Deposit Be Used for Payments?
No.
The Security Deposit is not a card balance and cannot be directly used for payments, subscription charges, or online purchases.
5.Can I Withdraw the Security Deposit Manually?
No.
The Security Deposit cannot be withdrawn manually. It will be refunded in two installments after you close your card, according to the refund rules.
6.Will the Security Deposit Be Refunded If I Cancel My Card Application?
Yes.
If you cancel your card application or your card application is not approved, the paid Card Issuance Fee, Security Deposit, and top-up amount will be refunded to your Payment Wallet.
7.When May the Security Deposit Be Deducted?
In certain situations, the Security Deposit may be deducted, including:
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Recurring charges from linked services when subscriptions are not canceled, or cards are not removed
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Transaction fees caused by insufficient card balance; please top up your card balance promptly to avoid additional fees caused by failed transactions
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Transaction disputes or compensation
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Other transaction risk scenarios specified in applicable agreements
If a deduction occurs, the system will generate a corresponding record. You can view the details in Security Deposit Records or Refund Details.
8.Will I Receive a Notification If My Security Deposit Is Deducted?
Yes.
If your Security Deposit is deducted, BenPay will notify you through available notification channels, such as App Push, email, or SMS.
You can also visit the BenPay Card page to view transaction records and Security Deposit changes.
9.Do I Need to Remove My Card From Linked Services or Cancel Subscriptions Before Closing My Card?
We recommend doing so first.
If your card is linked to subscription or recurring payment services such as ChatGPT, Codex, Midjourney, Google, Apple, or Telegram, please cancel the subscription or remove your card from the relevant platform before requesting card closure.
10.How Can I Check My Security Deposit Refund Progress?
You can go to:
BenPay → Card → My Card → Select a card that is being closed or has been closed → View Refund Details
In Refund Details, you can view information including the first refund, second refund, refunded amount, pending refund amount, and estimated refund arrival time.
11.Where Can I Check the Reason for a Security Deposit Deduction?
You can view the deducted amount, deduction time, transaction summary, and remaining Security Deposit balance in Security Deposit Records or Refund Details.
12.How Can I Reduce the Possibility of Security Deposit Deductions?
We recommend keeping sufficient card balance, canceling unused subscription services promptly, and confirming that there are no pending transactions or recurring payment connections before closing your card.