When Does the Refundable Deposit Repaid?

Article author
Hyun Cho
  • Updated

When is the Refundable Deposit Repaid?

When you hire a team member through the Oyster Platform, you'll be charged a refundable deposit equal to one month of the total cost of services (What is the total cost of services?).

There is no action required from you for a deposit refund - the refund is initiated automatically upon termination, resignation, or end of service of the Team Member.

 

When can I Expect to Receive the Deposit Refund?

Usually within a month of the Team Member's end date, assuming all payments and pending invoices have been settled.

 

How will I Receive the Deposit Refund?

You can choose between cash payment or a credit note to offset against open or future invoices.