How do I pay the balance on my Loqbox Spend account?
On the first of every month, we’ll bill you for any payments made on your Loqbox Spend account in the previous month. We’ll try to collect this from your debit card on the same day.
If we’re unable to take the payment that day, say because your card has expired or there isn’t enough money in your bank account, we’ll let you know and try again a few days later. Alternatively, you can log in and make the payment yourself.
You’ll have until the end of the month to settle your bill. For example, if you’re billed on February 1st for payments taken in January (your January bill), you’ll need to pay the amount before March 1st.
If your bill is not paid before the end of the month, it will become overdue. Overdue payments are reported to the credit reference agencies and can have a negative impact on your credit score.
You can check which amounts are due or overdue on the ‘Statements’ page in your Loqbox Spend account.