I recently joined Monzo and was in the process of transferring my various accounts, including a number of bicycle rental schemes; namely, Santander, Velib (Paris), Velobleu (Nice) and Villo (Brussels). I’m doing this for added security.
Each of them has a ‘transparent’ deposit when renting the bike for around 150 £/€, in case of damage, etc. Normally, with a credit card, this isn’t reflected in your available credit and is returned once you return the bike.
My question is, in moving these to Monzo, will the deposit come out of my available balance - and if so, how quickly returned?
What do Monzo recommend for these types of services?