When you'll pay for your storage booking
Understand exactly when payments are charged for storage bookings and how our billing cycle works.
Billing Cycle Overview
Splacebar uses a day-rate billing model where you pay for the exact number of days in each month. For example, February charges are for 28 days (or 29 in leap years), while March charges are for 31 days. You'll also pay a refundable security deposit upfront.
Your first payment when booking
When you make your initial storage booking, you'll be charged for two components:
Pro-rated First Month
You'll pay for the remaining days in the month when your storage begins.
Example: If you start storage on March 15th, you'll pay for 17 days (March 15-31) based on the daily rate.
Security Deposit
A refundable deposit equivalent to 30 days of rent, returned when storage ends.
Refund: Processed within 14 working days after storage completion, minus any outstanding amounts.
Payment processed immediately: Both charges are processed when you confirm your booking through the app using your credit card.
Monthly billing cycle
After your initial payment, you'll be billed monthly in advance based on the exact number of days in each month:
How monthly billing works
Monthly advance payment
Starting the month following your initial booking, you'll be charged on the 1st of each month for the exact number of days in that month (e.g., 28 days for February, 31 days for March).
Automatic processing
Charges are automatically processed using your saved credit card through Stripe's secure payment system.
Coverage period
Each payment covers the entire upcoming month of storage service, calculated based on the actual number of days in that specific month.
Billing example timeline
• Security deposit (30 days worth)
Understanding day-rate pricing
Our day-rate model ensures you only pay for the actual days in each month, making pricing transparent and fair.
February
28 days (29 in leap year)
Pay for 28/29 days only
April, June, September, November
30 days
Pay for 30 days
January, March, May, July, August, October, December
31 days
Pay for 31 days
Example: If your daily rate is $5, you'll pay $140 for February (28 × $5), $150 for April (30 × $5), and $155 for March (31 × $5).
What happens if payment fails
If your monthly payment cannot be processed, Splacebar follows a structured approach to resolve the issue:
7-Day Grace Period
You have 7 calendar days to update your payment information and resolve the failed payment.
- • Immediate notification: Email and app alerts sent when payment fails
- • Daily retry attempts: We'll attempt to process payment daily
- • Update payment method: Add new card or fix existing card issues
- • Customer support: Contact us if you need assistance
After Grace Period (Days 8-10)
If payment issues aren't resolved, Splacebar may take the following actions:
- • Deposit deduction: Outstanding payments deducted from security deposit
- • Collection coordination: Arrange with space owner for item pickup
- • Service discretion: Splacebar may exercise discretion over stored items
Final Actions
For continued non-payment after multiple warnings:
- • Written notice: Formal notification of intent to remove items
- • Responsible removal: Items removed with proper procedures
- • Authority notification: Local authorities informed if required
- • Storage owner compensation: Ensured payment up to removal date
When space owners receive payment
Understanding the payout schedule helps explain the timing of the billing cycle:
Monthly Payout Schedule
- • Contracts starting up to 25th: Released at the end of the current month
- • Contracts starting after 25th: Released with the following month's payments
- • Platform fee deduction: 20% service fee deducted before payout
- • Bank transfer: Funds transferred directly to space owner's registered bank account
Why advance billing? Monthly advance payments ensure space owners receive timely compensation and help maintain service continuity.
Payment processing times
Here's what to expect for different types of payment processing:
Space Seeker Payments
- Initial booking payment:Immediate
- Monthly recurring charges:1st of each month
- Failed payment retries:Daily for 7 days
- Security deposit refund:14 working days
Space Owner Payouts
- Monthly payouts:End of month
- Bank transfer processing:2-3 business days
- Late contracts (after 25th):Following month
- Platform fee deduction:Automatic (20%)
Questions about payment timing?
If you have questions about when payments are charged or need help with billing issues, our support team can provide assistance.
Was this article helpful?
Related articles
Billing questions?
Get help understanding your billing cycle and payment timing.