Payments

How we pay and how customers pay

Why Is My Credit Being Affected

Why is my credit file impacted when I am making payments? Whilst making reduced payments has a negative impact on your credit file, it makes less of a negative impact in comparison to making no payment at all. If you are seeing a negative on your...

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By Chris Pursey

updated 9 months ago

What do I need to know in respect of VAT?

Please note that we cannot give VAT advice to you but we can explain how we charge VAT and also share our understanding of what this means for you.  You should check with your accountant how to account for it in your particular case. Our fees,...

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By Chris Pursey

updated 9 months ago

Pre-Authorisation

Pre-authorisation payment When you apply for finance with PayItMonthly, we will ask your bank to confirm that the funds for your first instalment are available. Providing the funds are available, the bank then puts a hold on these funds. This...

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By Chris Pursey

updated 9 months ago

A customer has paid me directly, what do I do?

Sometimes, a customer might call you or pop in and make a payment; or even pay the balance in full. Should this happen, please contact us immediately to let us know as we will need to close the account and direct debit our end. Even if the...

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By Chris Pursey

updated 9 months ago

I have accidentally cancelled my direct debit, how can I set it back up?

If you have cancelled your direct debit payments to us in error, you can contact us to let us know and we can reinstate payments by simply setting the direct debit back up. You will need to give us new authorisation and once received, we reset...

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By Chris Pursey

updated 9 months ago

Do you only take payments monthly?

When you sign the Agreement and set up your payments, you will only be able to set them on a monthly or four-weekly basis. However, if you find you find that you are not happy with the monthly payments later down the line, you can call us and we...

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By Chris Pursey

updated 9 months ago

Can I cancel/get a refund?

Once you have agreed on a sales contract with the company, you are unable to cancel it or get a refund if you have signed on the business premises or you are buying bespoke goods or services. There is no cooling off period for such sales.  You...

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By Chris Pursey

updated 9 months ago

I cannot afford my repayments

We understand that from time to time, people experience a change in circumstances and this could mean they are unable to manage their agreed instalment amount. We will be happy to work with you and discuss a reduced payment amount for an agreed...

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By Chris Pursey

updated 9 months ago

Can you finance my agreements?

We do finance agreements. There are certain requirements we have to be able to do so. If you are interested in full finance, please contact us on 0333 212 3914 or @ support@payitmonthly.uk 

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By Chris Pursey

updated 9 months ago

Is there a minimum or maximum amount of finance I can offer using your system?

There is no minimum. The maximum amount you can offer is £3,000.00 at our risk and £10,000 for your risk.

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By Chris Pursey

updated 9 months ago

A customer has missed a payment. What happens next?

If the agreement has been financed by us, you don't need to worry. Providing you have fulfilled your side of the contract in full, it is our problem to deal with. If you are on the Guaranteed product, you will receive your monthly payments each...

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By Chris Pursey

updated 9 months ago

Why is your name on my bank statement?

BPS re:PAYITMONTHLY, PAYITMONTHLY FLEXP, PAYITMONTHLYFLEXP or Flexplans Ltd will appear on you bank statement. The name used will depend on the payment method (Direct Debit, Credit or Debit Card) that you are using. FlexPlans is a trading style...

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By Chris Pursey

updated 9 months ago

Can I make extra or increased payments?

Yes. You can call up and make extra payments or increase your payments as and when you want to. There is no penalty for making over-payments, so there is no need to worry about being charged for doing so.

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By Chris Pursey

updated 9 months ago

When will I get paid?

We pay you the previous months payments the following month. For example, each of your customers that have made a payment in December, will be paid across to you in January. These payments will be made to you, less our Credit Charge, by either...

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By Chris Pursey

updated 9 months ago

How Do I Access My VAT Invoices?

VAT Invoices are raised for monthly fees, legal costs and sundry items.  In order to access your VAT invoices simply follow the instruction below: On your account, select "Admin". Select "Invoices". This brings a list of all your invoices. Click...

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By Chris Pursey

updated 9 months ago

Purchase Status

You will see on your customers accounts a Purchase Status. This will indicate where the account is in the process and whether you need to do anything else for the account. The Purchase Status codes are explained below. DCR - Delivery Confirmation...

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By Chris Pursey

updated 9 months ago