Can I schedule automatic payments to repay my loan?

Published on: 08 November, 2021

Yes!

One of the most widely used & awesome features we have at Pigeon Loans is called AutoPay. For all individuals borrowing money on our platform, you can set up automatic payments to be taken directly from your bank account and sent to a friend or family member who is lending you money.

When a loan is active, as the Borrower of any given loan you will see a button within your loan console that says AutoPay. After you click that button, a popup will appear that will walk you through the ability to schedule automatic withdrawals from any bank account you have attached to your Pigeon Loans account. It takes up to 24 hours for an AutoPay sequence to begin, but after that, we will be able to withdraw from your bank account on the recurring cadence of your choosing:

  • Weekly
  • Bi-Weekly
  • Monthly

If at any point you need to stop your automatic payment sequence, feel free to click that same AutoPay button and cancel it. Your payment schedule will be stopped immediately once this action is taken.

We currently do not allow AutoPay to be scheduled with a debit or credit card.

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