How?
Repayments are automatically made each month via SEPA Direct Debit, according to your agreed repayment schedule. Payments are taken from your Vivid Main account, the same account where your loan was disbursed. The payment date depends on the month’s duration and may fall every 30, 31, or 28(29) days.
Which account?
For now, all loan funds will be disbursed to your Vivid Main account, and repayments will also be taken from this account.
At the moment, it’s not possible to change the account used for disbursements or repayments. If this option becomes available in the future, we’ll notify you.
What if I don’t have enough balance?
You’ll receive a notification from Vivid a few days before the payment is due. If your balance is too low to cover it, we’ll remind you to top up your account so the payment doesn’t fail. This notification will also appear in your transaction list and in your Cash Loan Account.
If a payment fails, it will be automatically rescheduled to the first working day of the following week. Please note:
A 30 EUR penalty applies immediately after the first failed payment.
After two missed payments, our partner finmid will contact you directly to help address any issues and work with you to set up a more suitable repayment plan.