Repayment of loan
Most online payday loans are paid automatically on the scheduled due date. That means that money will be automatically withdrawn from your bank account via electronic funds transfers (EFT) on the due date.
Note that all payment options can be changed by your lender, so be sure to ask what exact options are available to you.
Early payoff
Customers can make an early payoff with most lenders. It is recommended to pay any payday loan off as quickly as possible to minimize the finance fees and overall cost. Loans that are paid off early are usually only charged with the principal loan balance and the interest to the scheduled payoff date. Not all lenders offer this option. Ask your lender about all the terms and conditions for the loan.
Canceling and refunds
After receiving your loan, you can not rescind it. You can either pay it back with fewer fees than you originally paid. Contact your lender to discuss any other possible options in your individual case.
