Fees And Payments
Fees & Payments
How your payment is processed depends on the type of rental you place. Peer to Peer rentals are from other users on the site/app and Managed rentals are garments sent directly from the team at Siz HQ.
A Managed rental is accepted right away. The rental cost, including any security deposits for bags, will be charged at the point of booking and you'll receive a confirmation email to let you know the rental is locked in!
⌛ Peer to Peer rentals are requested before being confirmed. Your lender has 24 hours to accept the request. Whilst a rental is waiting to be accepted, the authorisation on your card is temporary and will include the security deposit if you’re renting a bag. This is a good time to message your lender and introduce yourself! 👋
✅ If the rental is approved, payment is captured and the rental can go ahead! You'll receive a confirmation email with handy info, so be sure to check it out!
❌ If the rental is declined or expires, your rental fee is refunded in the form of a reversal.
In the case of a reversal, you won’t see a refund credit on your statement. After a few days, you will just see the original authorisation drop off your statement entirely. There will be no payment and no refund. It’ll appear as if the whole transaction never happened. Your bank should be able to confirm this for you if you have any questions.
All renter and lender communication must go through the Siz platform.
If, on the rare occasion, someone has contacted you to pay or receive money outside the Siz platform, we advise that you cease communication with that member immediately and report the user to our team via our Help Centre.
Payments and communicating with other Sizters only through the Siz platform are vital to making your experience as positive and secure as possible. If your transaction happens offline, we will have no record of it, it will not be protected, and it will be difficult for Siz to help you.
Please note that all Sizters have signed up to Siz’s Terms of Service agreeing that they will not take the transaction off the platform.
AS A RENTER
To cancel a rental, kindly WhatsApp the siz team so we can assist you. If you need to query a cancellation fee please leave us a message with your order number so we can refund the cancellation fee where applicable.Cancelling last minute limits other Sizters from renting the item.
Please note the Siz cancellation terms and fees:
For rentals booked more than 48 hours in advance of the start date
For rentals booked within 48 hours of the start date
AS A LENDER
To cancel a rental, please contact the Siz team via WhatsApp. This way, we can notify any upcoming renters and coordinate a replacement for your renter.Please remember that cancelling at the last minute disappoints other Sizters and can lead to negative reviews.
Late Fees
It's important that you return your rental on time to not disappoint another renter in the sizterhood who might also have a rental booked for the item you’re enjoying!
Communication is key, so whether you’ve rented from a Private Lender or, from our very managed collection, please make sure you follow the below contact instructions:
🤝 For Peer-to-Peer rentals... Check your rental details in your account and hit “Message Lender” to start a conversation and discuss the situation.
Your Lender is entitled to request a late fee of a minimum of AED 75, should your rental not arrive on time. If there has been no communication with your Lender, it is likely our team will support that request ahead of discussing it with you.
🤝 For Managed rentals… Simply drop us a message via WhatsApp.
We understand life can get in the way sometimes, but please be aware that late fees of a minimum of AED 75 will be applied for extended delays. If you need any support at all with a return or have any questions about fees you have been charged, please use the above link to contact our team, who will be happy to help.
🚩 Although fees are rare, it is important to note that as included in our Terms Of Service, Siz reserves the right to issue a fee without your prior approval.
Insurance
We know your designer wardrobe is your pride and joy, which is why you’re wanting to share it with others of course! That's why we ask all SIZTERS renting to verify using our Emirates ID verification process to ensure our community is kept safe and secure.
Here are some more ways in which we ensure safety on SIZ:
1. Security Deposits - 20% holding charge is blocked on the Renter’s card for the duration of the rental and is released once the item has been safely returned to the Lender.
2. Damage Protection - This is covered by SIZ and covers up to AED 250 of accidental damage (such as a broken zip, missing beads, stain removal and slight tears). Any damages beyond that will be charged to the renter and the designer item shall be returned to the lender in good condition.
3. Rental approval - You can accept or decline rental requests. Don’t be shy about communicating with SIZ if you have any questions about their plans for your item!
4. Insurance - If the payment for loss or irreparable damage has not been made within 7 days from the supposed return date by the renter, SIZ may thereafter take any measures it deems appropriate, including but not limited to reporting to the relevant authorities to recover for its losses and damages. The lender will then be covered by our insurance and repaid with the total estimated replacement value of the item.
After each transaction, we ask both lenders and renters to complete a review which helps foster our community of trusted lenders and renters.
If at any point you feel as though something may be wrong or you have any questions, please contact a member of our team via Whatsapp.
All items are covered by our insurer in the whole duration of the rental.
- Renters are liable to cover the total estimated replacement value of the item on occasion that the item is lost or damaged irreparably.
- The amount in excess of the security deposit will be charged if the damage is beyond 20% of the value.
- If there’s any chances the card is declined, SIZ may thereafter take any measures it deems appropriate, including but not limited to reporting to the relevant authorities to recover for its losses and damages.
- The lender will then be covered by our insurance and repaid with the total estimated replacement value of the item
Earning Structure
Your rate of income on your rentals will depend on the retail value of your designer items.
Clothes
| Your share of the rental fee | Retail value of your designer item |
|---|---|
| 50% | AED 10,001 and above |
| 40% | AED 5001 to AED 10,000 |
| 30% | AED 5000 and below |
Designer Bags
| Your share of the rental fee | Retail value of your designer item |
|---|---|
| 60% | AED 20,001 and above |
| 50% | AED 10,001 to AED 20,000 |
| 40% | AED 5001 to AED 10,000 |
| 30% | AED 5000 and below |
Your earnings are released 2 days after the rental period has finished.
You should then receive the funds within 4-5 working days from this point depending on your bank.
Please ensure that your bank account is connected to your SIZ profile by heading to My Account and scrolling to the bottom of the page. If you experience any issues, please get in touch via Whatsapp.