Post # 1
We put down what I thought was a deposit on the rental fee for a venue way back in June. It was a $300 check which was promptly cashed. I found out today that the $300 was for a security deposit, and that we still owe the entire amount. The coordinator told me that the security deposit will be returned to me after the event as long as there are no damages.
This doesn’t make any sense to me–I wasn’t aware that venues could cash a security deposit so far ahead of time. I’d like for them to count the $300 towards the venue fee and allow us to write a separate check for $300 that they would cash only if there were damages.
Does anyone know what is “standard practice” or what they are allowed to do? It just irks me that the $300 could have been earning interest all year.
Post # 3
I’m surprised that they cashed the check. Bring it up in a meeting with them. Places that I have rented from in the past have held my check and returned it to me upon completion of the event when they saw that all was in order. Never heard of them cashing it before the event ever!
Post # 4
I had to give $400 security deposit for my venue. They cashed it. Checks that lay around for months/years sometimes can’t be cashed anymore. So it’s pretty normal to cash a check. If at the end of the wedding you did something to mess up the venue, and they didn’t cash the check… and they can’t cash it (sometimes checks are VOID after 90 days) then there is no security in that money you gave them. I also gave a $100 deposit for my DJ, he cashed it the same day! But that money goes towards his total fees. I think what they did is pretty normal.
Post # 5
I had to give a $100 security deposit and they cashed it immediately. They also promptly sent me a check for that amount after the wedding was over (we got it about 2 weeks after the wedding I think). It’s a pretty normal thing. Same thing if you rent a houseboat or rental house. They want the money in hand as a security.
Post # 6
We did that for our venue – they want to make sure it isn’t a bad check, i’m sure. We got married at a modern art museum – so very reputable. We got the full amount back, no problem.
Post # 7
My security deposit was cashed as well. I’m fine with that. It’ll be a nice bonus when we get it returned after the wedding. 🙂
Post # 8
We gave a $3000 deposit to hold our venue and they warn you of their $500 damage deposit but they just keep your credit card number on file and charge it later if there is cause for it. So technically they don’t take any money unless damage occurs.
ETA- As a PP has said, cheques do stale date after a certain amount of time (6 months I think).
Post # 9
Thanks everyone! Reading that this happened to others calmed me down. I finally called over to the venue and spoke with the coordinator. She said they can only hold checks for 90 days, so that’s why she cashed it. They are letting us apply the amount towards the total, as long as we provide them with another check closer to the event date…and they won’t cash the other check unless there are damages.