How to withdraw your security deposit from your card

You can request a withdrawal of your security deposit at any time from your Credit limit settings.

The way your deposit is returned depends on your current outstanding balance. This article explains what to expect in each scenario.

In this article:

1. How withdrawals work
2. How to request a withdrawal
3. What happens after your request
4. Frequently asked questions

Before you get started: Your security deposit is refundable and always belongs to you. If you have an outstanding balance, some or all of your deposit may be applied as a payment before the remainder is returned to your bank account.

How withdrawals work

When you request a withdrawal, Keep looks at your current card balance and determines how much of your deposit can be returned directly to you.

There are three possible outcomes:

• No outstanding balance: Your full security deposit is returned to your CAD account. Processing takes a few minutes.
• Partial balance: The portion of your balance not covered by your unsecured credit limit will be paid using your security deposit. Any remaining deposit is returned to your CAD account. Processing can take up to 8 business days.
• Balance equals or exceeds your deposit: Your full deposit is applied as a payment toward your balance. There is nothing left to return. Your secured credit limit will be reduced to $0.00. Processing can take up to 8 business days.

How to request a withdrawal

To withdraw your security deposit:

1. Go to Home from the left-hand navigation.
2. Find the Credit summary card and click the three-dot menu in the top right corner.
3. Select Manage credit limit. You’ll be taken to Settings > Credit limit.
4. Under Backed by, find Secured credit and click the three-dot menu next to it.
5. Select Withdraw from the dropdown.
6. Review the withdrawal summary. Depending on your balance, the confirm button will say Withdraw or Apply deposit.
7. Click the button to confirm your request.

💡 You can also access this from Settings > Credit limit using the top-right profile menu.

What happens after your request

Once your withdrawal is submitted:

• Your secured credit limit will be reduced to reflect the withdrawn amount.
• You can confirm the funds were returned by checking your Keep CAD account in Banking - look for a deposit entry and, if a balance was covered, a payment entry.
• Your updated secured credit balance will appear in Settings > Credit limit.

Note: Once a withdrawal is submitted, it cannot be cancelled. You can re-add a security deposit at any time from the same Credit limit settings page.

Frequently asked questions

How long does a withdrawal take?

If you have no outstanding balance, processing typically takes a few minutes. If part of your deposit is applied to a balance, processing can take up to 8 business days.

Where are the funds returned to?

The refunded amount is returned to your Keep CAD account.

Will my secured credit limit go to zero?

Yes. Withdrawing your deposit reduces your secured credit limit by the amount returned. If you withdraw the full deposit, your secured credit limit will be $0.00.

Can I withdraw only part of my deposit?

The withdrawal covers your full security deposit. The amount actually returned to you depends on any outstanding balance at the time of the request.

Can I add a new deposit after withdrawing?

Yes. You can add a new security deposit at any time from Home > Credit summary > three-dot menu > Manage credit limit, or via Settings > Credit limit.

Need more help?

If you have any questions, contact us at support@trykeep.com. We're happy to help!