How Can I Repay a Cash Advance and Manage My Payment Methods on True Finance?
Managing cash advances and ensuring repayments on True Finance is straightforward. Below is a comprehensive guide that addresses the process for automatic and manual repayments, handling payment failures, and updating payment methods.
Overview of the Repayment Process
True Finance uses a prioritized process to collect repayments:
Plaid-Linked Bank Account: The system first attempts to collect payment from your verified Plaid-linked bank account. Payments from bank accounts may take up to 48 business hours to complete (weekends are excluded).
Debit Card: As a backup, the system will attempt to collect payment from your linked debit card. Successful payments are processed instantly. If the debit card fails, the system well repeat this process on the next allowed date.
Manual Repayment Instructions
You can manually repay your cash advance if automatic collection fails or if you prefer to initiate payment directly:
Open the True Finance app.
Navigate to the Advance tab.
Select the unpaid advance.
Click the "Pay Now" button.
Important Notes:
Manual payment is only applicable to the most recent unpaid advance.
Ensure sufficient funds are available in your linked payment method to complete the transaction.
If your payment has recently failed, you will need to wait 24 hours from the previous attempt to try agin.
Updating or Adding a Payment Method
In cases where your current payment method fails or you wish to use a new account/card, follow the steps below to update or add a payment method:
Go to the main page of the True Finance app.
Click the gear icon located in the top right corner.
Select "Manage Subscription."
Under "Payment Methods," add a new debit card or bank account.
Once added, set the new payment method as Primary for future repayments.
Additional Tip: Double-check that your new payment method is active and has sufficient funds available before setting it as Primary.
Handling Payment Failures
If your default payment methods fail:
The system will automatically switch from debit card to bank account or vice versa, as applicable.
Verify your payment method details to ensure they are correct and active.
If errors persist, manually repay by following the steps outlined above.
Frequently Asked Questions (FAQs)
Can I pay previous advances manually?
Repayment for previous advances is automatic. Manual repayments only apply to the latest advance. You can also reach out to support to attempt at a specific date or time. Ensure sufficient funds in your linked bank account or debit card to settle previous amounts.
How long does it take for repayments to process?
Debit Card payments: Instant upon successful transaction.
Bank Account payments: Up to 24 business hours (excluding weekends and Holidays).
What should I do if I need help updating payment methods?
Follow the update process under the "Manage Subscription" section or contact True Finance support if you face technical issues. Ensure your new payment method is set as Primary after addition.
Wrap-Up
By following this guide, you can effectively manage, repay, and resolve most repayment-related issues on True Finance. Remember to maintain sufficient funds in your accounts to avoid delays and unnecessary charges.