What does "finalizing payments" mean?

A payment is finalizing when the last installment toward an advance has been debited from your bank account, but we are still waiting for the bank to confirm the successful debit. Confirmation typically takes 5 business days, or about one week.

So, for example, if your final payment installment was debited on a Wednesday, that payment will be in "finalizing" status until the following Tuesday, when we receive confirmation from the bank.

If a payment is finalizing, you will not be able to:

  1. Repay Early, because the funds may have already been debited from your bank account.
  2. Resolve any payments you might have missed during your payment plan, because any associated late fees would have been incorporated with your final payment.

Still have questions?

Feel free to give us a call at (855) 572-7707 or drop us a line at yourfirends@fundbox.com

 

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