Livble will debit your first installment (also known as a downpayment) immediately when you split your rent. After the downpayment, subsequent installments will be debited on the due dates you’ve selected, which are displayed in the Livble app.
Here’s what you need to know about how and when your payments are processed:
Payment Due Dates
Your payments will be debited automatically on the dates you selected before splitting your rent. These dates are fixed unless you request a change.
Need to Adjust Your Schedule?
If you need to change your payment schedule, reach out to our support team at least 3 days in advance. All requests will be reviewed, and changes are subject to approval.
Debiting Your Primary Bank Account
We will always debit your primary bank account on the scheduled due date. This is the account you designated as your primary when setting up your Livble account, and it will be used for all future rent installments.
Changing Your Primary Bank Account:
If you need to update your primary bank account, you can do so within the “Payment Methods” tab in the Livble app.
Managing Insufficient Funds
Our system will not attempt to debit your account if it detects insufficient funds, which helps avoid overdraft fees.
However, in some cases, our system may detect sufficient funds at the time of the debit, but if other payments are processed around the same time, it can reduce your available balance and lead to a non-sufficient funds (NSF) failure.
NSF Failures
If a payment fails due to insufficient funds, our system will automatically attempt to process the payment again the next day. To avoid further complications, make sure there are sufficient funds in your account.
Fees: An NSF failure may result in a $25 fee from Livble, and potentially additional fees from your bank.
Multiple Attempts: Our system will attempt to process the payment a limited number of times, so it’s important to ensure that funds are available as soon as possible to avoid further issues.
Using Secondary Payment Sources
If there aren’t sufficient funds in your primary account, and you’ve added secondary bank accounts to your profile, we will attempt to debit those accounts. This reduces the likelihood of a missed payment, but you should still keep your payment methods up to date.
Avoiding Payment Issues
To avoid failed payments and any associated fees:
Ensure your account has enough funds to cover your Livble installment as well as any other payments around the same time.
Monitor your due dates and confirm that your bank account is set up properly in the app.
Handling Failed Payments
If a payment is missed, skipped, fails, or is reversed, it will be considered late. Our system will automatically attempt to recollect the payment if there are insufficient funds. Make sure to resolve any failed payments as soon as possible to avoid further complications.
Avoid Reversals or Disputes:
Reversing or disputing a payment will disrupt your installment plan, causing your payments to fail and be marked as late. This may prevent you from using Livble in the future, and the outstanding balance will still be owed. If there’s an issue with a payment, it’s best to contact our support team before taking action.
Proactive Communication:
Plan ahead and reach out to support before a problem arises. This helps prevent mix-ups and avoids retroactive issues with payments.
Missed or late payments can impact your eligibility for future rent splits. Acting quickly to resolve failed payments helps keep your account in good standing.
Learn more about failed payments and what to do here!