We offer two services, a revolving line of credit and net terms on business purchases. This article applies to the net terms service.
Yes. You can turn on autopay from your dashboard if you’d like us to debit the total amount due automatically, as soon as your free net terms end. You will also have the option to turn on autopay when you accept a request for payment from a vendor.
If autopay is turned on and there are not enough funds in the business checking account to cover the debit, you'll need to give us a call to get back on track.
You can change your mind and turn autopay back off anytime before the debit is processed, when net terms end. If autopay is off, and you do not manually pay by the end of your net terms, weekly payments will begin automatically when net terms end, in most U.S. states. In that case, the original amount that we sent to your vendor, plus a fee, will be divided over 52 weeks. You can always pay your outstanding balance anytime during extended terms and we’ll waive all remaining fees.