Yes, you can. If you want to make a payment and have a specified portion of the funds, either in percentage or actual value, allocated to a specific loan, we'll be able to initiate this for you. This is known as a custom split and can be allocated to your loans at your request.
Here is a step by step guide:
Before you make the payment you'll need to:
- Decide how long you would like the custom allocation to run for
- Pay the exact amount requested in a single payment
Step 1: Contact us
- Before you make the payment, please send an email to firstname.lastname@example.org with the intended split once you have initiated payment, as international transfers usually take a few days to be received.
NB: We need to receive this request before we receive the payment.
Step 2: Decide the length of time
- Decide how long you would like the custom allocation to run for. We are able to allocate the split for a period of 1 month, 2 months or 3 months. If you want a unique split every month, you'll need to confirm this with us monthly.
Step 3: Make payment
Pay the exact amount requested in a single payment. We are able to split your payment based on either the amount you wish to pay or a percentage allocation towards each loan.
Please note the following:
- If you are making payment through a direct bank transfer or paying in a different currency to your loan currency, it’ is important to ensure that the payment we receive is the exact amount quoted in your request for custom payment split.
- If the amount is different, we will allocate based on the percentage split. This could potentially impact your loan if the payments do not meet the minimum payment due.
- If you are planning on making multiple payments, the payments will each be split based on the custom allocation unless we are notified otherwise.