Lender
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

FlexMoney PayOff

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FlexMoney offers a user-friendly and convenient payment system designed to streamline the repayment process for borrowers. Upon approval of a loan, borrowers can set up automatic payments through FlexMoney's online portal, ensuring timely and hassle-free repayment. Borrowers have the flexibility to choose from various repayment schedules, including weekly, bi-weekly, semi-monthly, or monthly options, depending on their preferences and financial circumstances. This customization allows borrowers to align their repayment schedule with their income frequency, making it easier to manage their finances effectively.

Furthermore, FlexMoney provides multiple payment methods to accommodate diverse borrower preferences. Borrowers can make payments conveniently online using their bank account information provided during the application process. FlexMoney also offers electronic money transfers via Interac e-Transfer for pre-payments, early repayments, or full repayments of the loan.

Make payments online through the FlexMoney account

  1. Log In to Your FlexMoney Account. Using your preferred web browser, visit the FlexMoney website and log in to your account using your username and password. If you haven't already created an account, you'll need to sign up first.

  2. Access the Payment Section. Once logged in, navigate to the payment section of your FlexMoney account. This may be labeled as "Make a Payment," "Repay Loan," or similar. You can usually find this option in the main navigation menu or on your account dashboard.

  3. Enter Payment Details. In the payment section, you'll be prompted to enter the necessary payment details. This typically includes the payment amount and the bank account from which the payment will be made. Ensure that you enter the correct payment amount to avoid any discrepancies.

  4. Select Payment Method. FlexMoney offers various payment methods, including direct bank account debits and Interac e-Transfer. Choose your preferred payment method and follow the prompts to complete the payment process. If you're using Interac e-Transfer, you may need to specify the recipient email address provided by FlexMoney.

  5. Confirm Payment. Before finalizing the payment, review the payment details to ensure accuracy. Once you're satisfied, confirm the payment to initiate the transaction. Depending on the payment method chosen, you may receive a confirmation email or notification once the payment is processed successfully.

Make payments through the FlexMoney app

FlexMoney does not currently offer a dedicated mobile application for managing loan accounts or making payments. However, borrowers can still access FlexMoney's services and account features through the mobile-responsive website, which offers a seamless user experience across various devices, including smartphones and tablets. By simply accessing the FlexMoney website through a mobile web browser, borrowers can log in to their accounts, review loan details, make payments, and manage their finances on the go.

Additional resources

Sources

FAQ

How long does it take FlexMoney to receive payment?

The time it takes for FlexMoney to receive payment depends on the payment method chosen by the borrower. If the borrower initiates a payment through the online portal using direct bank account debit, the payment is typically processed within a few business days, with the exact timing varying depending on the borrower's financial institution. For payments made via Interac e-Transfer, the funds are usually transferred instantly once the transaction is initiated, providing a swift and convenient payment option for borrowers.

How do I add a bill payee to my FlexMoney account?

FlexMoney does not currently support the addition of bill payees directly through its platform. However, borrowers can still make payments to their FlexMoney loan accounts through their bank's bill payment service. To add FlexMoney as a bill payee, borrowers should log in to their online banking portal, navigate to the bill payment section, and follow the prompts to add a new payee. They will need to provide FlexMoney's payment information, including the recipient name, account number, and any other required details, which can typically be found on their loan agreement or in their FlexMoney account dashboard.

Can make a FlexMoney payment over the phone?

FlexMoney primarily encourages borrowers to make payments through its online portal or via Interac e-Transfer for convenience and efficiency. While FlexMoney does not offer a specific phone payment option, borrowers may contact FlexMoney's customer support team for assistance with payment-related inquiries or to discuss alternative payment arrangements. Customer service representatives can provide guidance on making payments and address any questions or concerns regarding the payment process.

Financial products
FlexMoney
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
i

Effective interest rate on the product

from 18.9%
Term
i

Loan term for the financial product

up to 60 months
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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