Pay in & withdraw money
Logged in > User Menu > Pay In & Withdraw Money
The following page shows, giving access to three methods to pay in money, three methods to withdraw money. Please note that PayPal includes payments via credit and debit cards. Two panels also show - displaying the status of past deposits and withdrawal requests:
The simplest and quickest method of paying in or depositing money into your holding account is via bank transfer.
Under the heading "PAY INTO YOUR HOLDING ACCOUNT VIA ..." click the link "BANK TRANSFER (QUICKEST METHOD FOR ONCE OFF OR FIRST TIME)" and a page in the style shown below will open.
As a lender, you will probably not see the Loan Repayment or the Failed DD Fee options, leaving only Deposit to select.
For "Unique Reference" there may be a drop down selection for loan ID, for example, so, as a borrower, if you are making a manual repayment you might need to know the Loan ID, which you can find via your Borrowing Account. If you only have one loan via us, the ID will be showing so there is no need to do anything here.
Enter the AMOUNT YOU WiLL TRANSFER, the amount that you intend to transfer followed by the DATE YOU WILL MAKE THE TRANSFER. Then click the SUBMIT button. You will need to go on to your online banking arrangement to make the transfer.
You will see the confirmation of the deposit notification as shown in the DEPOSITS Panel as shown in the first screenshot above.
If you choose the Direct Debit link, and it's for the first time, you will see the following:
However, if you have set up a Direct Debit previously you will see the following:
From this page you may review the details of a previously set up Direct Debit, change the amount on an existing Direct Debit instruction or cancel the Direct Debit instruction.
If you click the link for SETTING UP A DIRECT DEBIT, this is the form of the page that you see next:
You will need to select whether this Direct Debit is to be set up to i) just debit your account once, or ii) operate on an ad hoc basis whenever you give an instruction for the next Direct Debit to be taken, or iii) to take a regular monthly Direct Debit from your account until you give the instruction for it to stop.
You need to enter the date that you wish the (first) Direct Debit to be taken from your account. As a rule of thumb this should not be earlier than 10 days from the date that you are setting this up.
Next enter the amount/next amount/regular amount of the Direct Debit.
Finally yopu can enter a description so that you can identify it later.
Click on the link for the Terms and Conditions of Direct Debits which will open in a separate window. When you have read them you can indicate your acceptance of the terms by checking the check box.
Then click the "SUBMIT" button. That completes the setup of the Direct Debit. You will receive an email confirming the Direct Debit. You need to click the link in the email to re-confirm your acceptance of the setup of the direct debit.
PAYPAL - INCLUDING PAYMENT BY CREDIT & DEBIT CARDS
MANUAL LOAN REPAYMENTS
FAILED DD FEES
LATE PAYMENT INTEREST
Enter the amount that you wish to withdraw in the WITHDRAWAL AMOUNT box. This amount cannot be more than the Uncommitted Balance shown at the top of the panel.
Select the method of the withdrawal. Note that the withdrawal methods that involve us with administrative work incur a fee. Direct Credits can be completely automated and therefore there is no fee and it's more efficient generally to process them this way. Then click "SEND REQUEST".
The status of the Withdrawl Request can be confirmed by looking in the WITHDRAWAL REQUESTS panel as shown in the screenshot at the top of this article.