We collect repayments by monthly Direct Debit from your nominated bank account.
By default the Direct Debit is set to collect nothing from your account, only when you make a purchase does it adjust to collect whatever is due to cover the cost of the repayments due to service that purchase, then once all repayments have been received the Direct Debit adjusts back to zero until you make another purchase.
When we approve you for a line of credit you will be asked to set up a Direct Debit so that we can automatically collect the right repayment amount each month.
Each month we'll calculate the amount you owe us to satisfy all your outstanding repayment plans and collect to combined amount as one direct debit collection.
Don't worry, if you haven't made any purchases or don't have any outstanding repayment plans we won't collect anything.
The calculation for what we collect from you each month is based on your account usage as of the 25th of the month previous.
The Direct Debit will show up as 'AppToPay Ltd' on your bank statement and will always be collected on or around the 4th of each month.
You can make overpayments via the app by clicking on the three dots next to the name of a purchase and following the instructions.