What’s the 'billing cycle' and how do my bills work?

What’s my end-of-month bill? 

Your end-of-month bill is the bill you’re expected to pay for the month that has just passed. 

Here’s an example: Let’s say it’s the 1st of September. Your bill for August has just been closed.  

That means everything you spent up to the 25th of August, divided by the instalment plans you chose on those individual transactions, will be on the bill created on the 1st of September. 

What does it mean when the bill closes on my account? 

We add up all your transactions for the month that has just passed and calculate what you owe on your next bill based on your choice of instalment plans.  

When is the cut-off date for purchases included in my end-of-month-bill?  

The cut-off date for purchases included in your end of month bill is the 25th of every month, unless the 25th falls on a weekend. If the month is a longer one of 31 days, this can also move the cut-off date along to the 26th.

So, if the cut-off date is the 25th, and you make a purchase between the 26th and the last day of the month, it won’t be included in your end-of-month bill, which you’ll get on the 1st of the next month. It’ll be added to your bill the following month. 

Let’s go back to our example. It’s the 1st of September, so your bill has just closed. You get your bill for every transaction up to the 25th August, but you purchased something on the 27th August too. That transaction will be included on the bill you get on the 1st of October.  

When does my bill close? 

Your billcloses on the 1st of every month. 

When do I have to pay my end-of-month bill”? 

You are expected to pay your end-of-month bill by the 7th of every month.  

So, if it’s the 1st of September, you have to pay your bill for August (every transaction up to the 25th) by the 7th of September. 

How much of my end-of-month bill am I expected to pay? 

You have to pay all of your end-of-month bill on the 7th of every month.  

Remember, your end-of-month bill is not the same as your outstanding balance.  

Your end-of-month bill is every transaction made up to the 25th of the month that has just passed. We calculate what you have to pay on the 7th by adding up all these transactions and dividing by the instalment plans you have chosen in the app.  

If you don’t choose an instalment plan for a transaction, you’ll have to repay the full amount of that transaction. 

What’s the difference between my end-of-month bill and my outstanding balance? 

Your outstanding balance is the balance of your total spending on your account. 

Your end-of-month bill is the money you owe for that month after you have chosen your preferred instalment plans.