Recording a repayment
Borrowers record payments; lenders confirm them.
- Open the loan and press I have made a payment (borrower) or Record a payment.
- Enter the amount, date, method and reference. Attach a receipt and, if you like, a voice note.
- Save. The payment shows as awaiting confirmation with a PAY- ID.
Only confirmed payments reduce the balance. The lender confirms each payment on the loan, or ticks several on Repayment Schedules and presses Confirm selected.
Mistakes
A lender can reverse a confirmed payment entered by mistake, with a reason. It stays in the history marked reversed.
Settling early
The borrower presses Settle Early to pay everything left. Once the lender confirms it, the loan closes.