Repayment of loan
You can repay your loan online. Your repayments are due on the same day you received your loan funds.
Supported types of payment
The client determines repayment. Customers and BetterMed, on the other hand, will often have an agreed-upon monthly payment taken instantly from your account on the day and time specified in the loan arrangement. If you have not opted for automatic deductions, you will certainly be given the option of making manual monthly debt payments.
Loans can be repaid by one of the methods listed below;
Online through the BetterMed website
Bank transfer
Credit/debit card
Log in to your account on their website to make a payment or completely pay off your debt. You can use your primary account (the checking account you specified in your application) or add a new checking account or debit card once you've logged in.
Steps to repay online through the website
Follow the steps below to pay your loan through the BetterMed website:
Visit the BetterMed website at https://bettermed.com/.
Click on Log inand then log in to access your account.
Click on Repayment, then select your repayment options.
Follow the steps for the option you choose and correctly input all needed information.
Click on Submitwhen done. Your payment status will be updated immediately.
Steps to repay a loan through bank transfer
To repay a loan by bank transfer, go to BetterMed's website, log in to your account, and click Repayment. From the list of payment methods, choose Bank transfer. Choose your bank and press the button to proceed with the payment. A code will appear on your phone, enter the code and the name of the bank to which you are transferring and hit Continue.
Steps to repay a loan through credit/debit card
To repay your loan with a credit/debit card, go to an ATM operated by one of the BetterMed-listed institutions. Make sure you have your phone with you in case you need to get a token, then complete the following: insert your ATM card and choose a biller. Choose Pay bills, then Others, and enter the BetterMed biller code as the Biller code. For Customer reference number, enter the phone number associated with BetterMed. When you confirm your payment by clicking on Continue, you will get a confirmation message.
Conditions of loan extension
There is no information as to whether there is a possibility to extend a loan with BetterMed or not.
Early payoff
BetterMed never imposes prepayment penalties, and paying off your loan early is a great way to improve your credit.
