How are charge card repayments handled?

Anna

Updated October 19, 2024 17:49

Repayment Terms: The bank reviews and approves repayment terms, including the structure and timing of any late payment fees.
Repayment Types: Customers can make one-time repayments or set up automatic repayments to cover their previous balance.
Late Repayments: If a customer doesn't repay on time, you can freeze their card to prevent further spending. After three failed ACH debit attempts, you can close the account.
Late Fees: You can assess late fees with the bank's approval. Unit's Fees API facilitates assessing these fees.

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