Each repayment is made up of the amount drawn, and a simple fee split evenly across a 12- or 24-week repayment period, depending on the plan you choose.
Your weekly payment will be automatically debited from your bank account each Wednesday, using the ACH system. All you need to do is make sure there are sufficient funds in your account when we debit it. If at any point during the repayment period you wish to repay the amount due early, we’ll waive all future fees, so you only pay for the time you’re using the funds.
Fundbox will debit your payments from your bank account automatically, using the ACH system, each Wednesday. All you need to do is make sure there are sufficient funds in your account when we debit it to avoid additional fees associated with a missed payment.
As soon as you draw funds, we'll send you an email with your repayment plan. The repayment period is spread over twelve or twenty-four weeks (depending on which plan you chose), starting no less than eight days after you cleared the invoice.
Please note that the dates in the email are optimal, and depending on your bank, it may take up to 3 business days for the transaction to appear on your bank statement.
If at any point during the repayment period you wish to repay the amount due early, we will waive the fees for the remaining period. So you only ever pay for the time you used our service.