How do payments work?

When you draw funds, you will be able to review and confirm your payment terms.

 

Payment terms include the number of weekly payments you’ll be making, the weekly principal, and the weekly interest that will be debited each week. 

 

Debits are made automatically every Wednesday at 10am PST, starting no less than eight days after you draw funds. That means if you draw on a Tuesday, your first weekly payment will not be debited the next day, rather, your first debit will be scheduled for the following Wednesday, eight days from when you drew funds.

 

Similar to how a credit card works, whenever you draw funds, that amount is taken from your total credit limit, and whenever you make a payment, your credit limit goes back up. Your credit is usually replenished within 3 business days of a successful payment.

 

You can pay your entire outstanding balance early anytime with no extra fees. In fact, when you repay Fundbox before your payment plan ends, we’ll waive all remaining interest.

 

When you use Fundbox to make a purchase, you will also be able to review and confirm your payment terms.

 

You will always start with free net terms. During net terms, no payment is due. In most U.S. states, once net terms end, extended terms will begin automatically. With extended terms, you can pay in up to 52 equal weekly payments. Weekly debits are made automatically every Wednesday at 10am PST.

 

You can pay your entire outstanding balance anytime with no extra fees. In fact, when you repay Fundbox before your payment plan ends, we’ll waive all remaining interest. Whenever you make a payment, your credit limit goes back up. Your credit is usually replenished within 3 business days of a successful payment.

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