Help Centre
What happens if your payment is late
How late repayment is handled and why early communication helps
If a payment is overdue, additional charges may apply. We always prefer to work things out with you instead of having an account go overdue, so the most important thing is to talk to us as early as possible if you anticipate a problem.
How late charges are applied
When a Funds Request is overdue, the daily markup continues to apply. After a grace window, a higher daily charge takes over. The grace window and the higher rate are different for each product. See the next article for the rates by product.
Two key things to know
The daily charge keeps adding up for every day the payment is late
If you have an overdue Funds Request, your ability to draw new Funds Requests may be paused
Why we apply late charges
Late charges exist to keep the system fair for everyone. When most clients pay on time, the system runs smoothly and rates can stay low. When some clients delay, costs rise for everyone. Late charges help us keep the product affordable for all clients.
What you should do if you might be late
Contact our team as early as you can. The earlier we know, the more options we have to work with you. See the article on what to do if you might be late.