# Payment Basics

> How do I add my payment information?   Our users can easily add their payment information   here   under their Profile page. Renters will   add their credit ...

Source: https://help.neighbor.com/en_us/payment-basics-BJ7t5rl6c

Last updated: 2024-10-15T20:30:36.027Z

## **How do I add my payment information?**

Our users can easily add their payment information [here](https://www.neighbor.com/dashboard/190368/profile/payment) under their Profile page. Renters will [add their credit card information](https://kst.mr/BJJl5Xvn9), and hosts can [connect their bank account](https://kst.mr/HkCx57wnc). 

Neighbor accepts all [major credit cards](https://kst.mr/Sy1McQwhc). 

## What is Stripe?

[Stripe](https://kst.mr/Sk3P9mw39) is the payment gateway Neighbor uses to store all payment information. Stripe is an encrypted, PCI-compliant server used by 100,000+ vendors worldwide!

## What are the fees associated with monthly rental payments?

For our renters, a [Service Fee](https://kst.mr/S1et5QDnq) is added to each monthly payment. The amount varies based on when and where items are stored, but clicking on any listing will show the Service Fee for that particular listing.

For our hosts, a [Processing Fee](https://kst.mr/Hy-c5XDn5) of 4.9% + $0.30 is withdrawn from each monthly payout. 

These fees allow us to manage payments, resolve issues, provide customer service, and offer protections such as the [$1 Million Host Guarantee](https://www.neighbor.com/host-guarantee) and [Payout Protection](https://kst.mr/Syunq7Phq)!

## When is the first time a renter is charged? 

After submitting a reservation request, a [pre-authorization hold](https://kst.mr/HyQQn7w35) is placed on the renter’s credit card. If the host approves the request, the charge for the first month’s rent will be processed. If the request is [denied](https://kst.mr/rySV37Dn5), the renter will see the hold drop off in the next 3-5 business days.  

## How does the payment process work?

Reservations on Neighbor are month-to-month. [The renter is charged](https://neighbor.kustomer.help/articles/-H1ovv0URO) at the beginning of each rental period. This ensures the renter has paid for the entire month before it has even started! 

At the end of each rental period, we send the [host payout](https://kst.mr/BJVD2QD3c) to Stripe. And in just 3-5 business days, the payout will be visible in the host’s connected bank account! 

## How do I stop the monthly rental payments?

It is the responsibility of the renter to [cancel the reservation online](https://kst.mr/SkBY3Xvhq) after the renter has removed all of their items from the space. After canceling the reservation online, the automatic payments will stop. Make sure to cancel before next month’s renewal date to avoid being charged for another rental period!

If a host is aware that a renter (1) no longer intends to use the space, (2) has permanently removed their items from the space or never moved into the space, and (3) has not canceled the reservation online, [the host should cancel the reservation online](https://neighbor.kustomer.help/articles/-SyXyzhKU5). 

## How do I go about getting a refund?

Check out our [Cancellation & Refund policy](https://kst.mr/SJ7sh7w25) to make sure you are eligible for a refund. Most of our eligible refunds happen automatically, so there is no need to reach out.

## Can I take payment off the platform?

No. Moving payment off platform is a violation of our Terms of Service and disqualifies you from receiving help from Neighbor if something arises between you and the host or renter and can [lead to action being taken on your account](https://help.neighbor.com/en_us/what-happens-if-i-move-a-reservation-off-the-neighbor-platform-ByRsJMn1ke). With your help we can provide a safe and valuable marketplace!