Repayments are set up automatically when you take out a CashWave loan. Here's how it works:
For £50, £100, and £200 loans (30-day repayment):
• Your full loan amount is due 30 days after your drawdown date
• Payment is collected automatically from your linked debit card
For £300 loans (3-month repayment):
• Repayments are split into 3 equal monthly instalments of £100
• Each instalment is collected on the same day of the month as your drawdown
date
For £500 loans (4-month repayment):
• Repayments are split into 4 equal monthly instalments of £125
• Each instalment is collected on the same day of the month as your drawdown
date
Can I repay early?
Yes - you can repay the full outstanding balance at any time through the SteadyPay app. Repaying early means you stop being charged subscription fees from that point forward, which can save you money.
How do I update my payment details?
If you want to update your payment card, this can be done in the app (My Profile > Update Payment Details). Make sure this is done before your next repayment date.