Will Pigeon Loans deny any payments?

Published on: 16 September, 2021

Updated: 27 May, 2022

For any of our loans, we strive to never deny a payment. However, since we are committed to being the best platform we can be, we do have some restrictions currently in place to help us regulate and maintain the best loan experience for our squeakers.

Besides our sole platform limits, we have no control over whether or not your bank will allow for a transaction to succeed. Often times banks have a daily withdrawal limit, or maximum debit card purchase for their customers. For situations such as these, we recommend you contact your bank or card issuer to authorize your transaction on our platform.

For bank transfers, we have a hard limit of $25,000 USD per transaction. So if your loan has a Principal larger than $25,000 USD we will split your Principal into chunks of $25,000 payments.

For example, if your Principal was $100,000, you would see 4 withdrawals of $25,000 from Pigeon Loans on your bank account statement. If you would like, you can also avoid this chunking process by using our Freebird Payment option to track a large transaction made outside of our platform such as a wire, or cashed check.

If you have explored all online options and cannot make a transaction on our platform, we have provided you a way to track payments made outside of Pigeon Loans. You can use our Freebird Payment feature whenever is most convenient for you.

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