Repayment methods
| Method | How it works |
|---|---|
| DebiCheck debit order | Bank-authenticated automatic collection on your due date |
| Manual EFT | You transfer the instalment from your own internet banking |
| Online card payment | Some panel lenders accept a debit or credit card payment through their portal |
Early settlement
When a DebiCheck mandate fails or you want to close the loan early, manual EFT is the reliable option. Include the loan reference number from your personal cabinet with the specific lender so the payment allocates correctly. The National Credit Act always permits early settlement, and interest should cover only the days credit was actually outstanding.
Payment date deferment (extension)
Certain panel lenders may grant a short payment-date extension before the due date, but each lender decides individually and nothing is guaranteed. Reach out to the lender well ahead of the due date if you expect a shortfall.
What happens if you miss a payment
| Timeline | What happens |
|---|---|
| Day 1 | Penalty interest begins to accrue; SMS reminder sent |
| Day 5–10 | Second DebiCheck collection attempt |
| Day 30+ | Account flagged as missed with credit bureaux |
| Day 60+ | Handover to internal or external debt collections |
| Day 90+ | Potential legal action and judgment |
Best practices for repayment
- Remind yourself two to three days ahead of the due date to check that enough funds sit in the account.
- Phone your lender before the due date when you foresee trouble, not after a missed debit.
- Archive payment confirmations and settlement receipts for possible disputes.
- Resist opening a second matched-lender loan just to plug a gap on the first; the NCR flags that pattern as a debt-spiral risk.
FAQ — How to repay
Do I make repayments to MoneyHello? No. Repayments go straight to the lender you signed with. MoneyHello neither collects nor holds them.
Can I settle a MoneyHello-matched loan early without penalty? Yes, for NCR-registered lenders — the National Credit Act bars prepayment penalties on early settlement.
What happens if two different matched lenders both offer me a loan? Sign with only one. Multiple simultaneous panel loans sharply raise your over-indebtedness risk.