Repayment for your advance in Bridgeover is due on the next scheduled payday following the receipt of the advance. It's important to note that the repayment process is automatically done on this date unless you have customized it for an alternate date.
If you want to learn more about customizing your repayment plan, please refer to the question "Can I change my repayment date through the Bridgeover app?" for further guidance.
If you take a Cash Advance within 3 days of your next payday, Bridgeover automatically schedules the repayment to occur on your following payday. This simplifies the repayment process and helps ensure that you have sufficient funds available when the repayment is due.
You'll receive a notification or reminder in the Bridgeover app confirming the repayment date and amount. This allows you to plan accordingly and ensures that you're aware of the upcoming deduction from your account.
Flexibility: While the repayment is automatically scheduled for your next payday, you have the flexibility to adjust the repayment date if needed. If you prefer to repay the advance earlier or later, you can make changes to the repayment schedule through the Bridgeover app.
If you want to learn more about customizing your repayment plan, please refer to the question "Can I change my repayment date through the Bridgeover app?" for further guidance.
Yes! We offer a Self-serve Custom Repayment feature in our app, allowing you to conveniently manage your repayments. Here's how you can create a custom repayment plan:
1. Access the Advance Screen: Enter the Bridgeover app and navigate to the “advance screen. Then, press the "Change repayment schedule" button.
2. Select Repayment Option: Depending on your advance's status, you'll see different repayment options. The first three payment types are automatic, allowing you to simply click to set your payments.
If you prefer to manually set up a repayment schedule, choose the "Manually Setup Repayments Schedule" option and press "Add Repayment".
3. Choose Repayment Date: Select the date that best suits you for the repayment. Please note that there is a maximum time limitation for advances repayment date.
4. Summary of Repayment Schedule: After setting up the repayment date, you'll see a summary screen displaying the next payment date and amount.
In order to see how the repayment schedule has affected your BridgePoints™ balance, please click on the “View/Edit Repayment Schedule” button.
5. Completion: You're all set up! Your repayment plan is now customized according to your preferences.
Important Notes:
Maximum Number of Payments: The maximum number of payments allowed is three.
Total Payment Amount: All of your payments must add up to the outstanding amount of the advance.
BridgePoints™ Usage: Every day of outstanding amount incurs additional BridgePoints™. Use your points wisely and plan to repay your advance promptly to minimize costs.
Payment Deadline: Each Cash Advance has a maximum period of time for repayment. For further clarification on this, please refer to the question "What is the payment deadline for my cash advance?"
By following these steps, you can easily manage and submit payments through the Bridgeover app, providing you with flexibility and control over your repayment schedule.
It's important to note that there is a transfer fee of $0.95 for each advance repayment starting from the second payment. However, if you choose to pay off your entire advance in one payment, you will not be charged any fees. This fee helps cover transfer costs associated with multiple advance repayments.
The payment deadline for your cash advance varies based on your pay frequency:
If you’re paid monthly, your Cash Advance deadline is 2 months.
If you’re paid biweekly, your Cash Advance deadline is 6 weeks.
If you’re paid weekly, your Cash Advance deadline is 1 month.
The payment deadline represents the timeframe within which you can reschedule your cash advance in full.
Repayment Schedule: While the deadline provides a guideline for repayment, you have the flexibility to adjust the repayment schedule within this timeframe. Bridgeover offers a self-serve custom repayment feature through the app, allowing you to create a repayment plan that aligns with your pay schedule and financial situation.
BridgePoints™ Accumulation: Failure to repay the cash advance by the deadline may result in additional BridgePoints™ usage, which can impact your overall Bridgeover account status and benefits. It's advisable to repay the advance promptly to minimize any associated consequences.
The ACH withdrawal process can take as long as 2 business days to complete from the time of initiation. This remains relevant even if you already see the withdrawal in your bank account. Please note the following:
Timing: The withdrawal timing may vary depending on your bank and the specific ACH processing times.
Funds Availability: Please ensure that you have sufficient funds in your bank account for at least 2 business days following your scheduled payment date. Weekends and holidays are not included in this timeline, so plan accordingly.
Avoiding Insufficient Funds: Leaving enough money in your account to cover your outstanding balance for 2 business days will help ensure the payment is successful. This prevents situations where you have insufficient funds and the ACH withdrawal fails, potentially resulting in bank fees.
If you have any questions or need further assistance, please feel free to email us at support@bridgeover.io or call us at 1-800-472-4230. Our support team is available Monday to Friday from 9:00 AM to 5:00 PM ET.
With Bridgeover, cash advance repayment is designed to be flexible and tailored to your individual cash flow situation. Here's how it works:
Our monitoring product evaluates your ability to comfortably repay the cash advance on your next payday. It considers factors such as your payment history and cash flow to determine whether a payment might create a negative balance in your account.
It’s important to ensure that you have sufficient funds in your bank account for at least 2 business days following your scheduled payment date. Weekends and holidays are not included in this timeline, so plan accordingly.
If you don’t have sufficient funds in your account on the repayment day, Bridgeover will adapt the repayment of your advance to align with your actual cash flow. This means you won’t pay the entire amount of the cash advance all at once, but the repayment will be adjusted based on your available funds*.
*Please be aware that each day of an outstanding amount incurs additional BridgePoints™. Additionally, there is a transfer payment fee of $0.95 for each advance repayment starting from the second payment.
Our AI monitoring product continuously evaluates your cash flow and payment capability, making adjustments as needed to ensure a seamless repayment experience. This proactive approach helps prevent any potential financial strain and promotes responsible borrowing practices.
By offering flexible repayment options and transparent terms, Bridgeover aims to empower users to manage their cash advance repayment effectively while minimizing financial stress.
1. Next Payday Repayment: This is the basic repayment method once you take a new advance. Repayment amount is automatically deducted from your bank account on the next scheduled payday. This ensures convenience and helps you stay on track with your finances.
2. Custom Repayment Schedule: If after you take an advance you realize that the repayment on the next payday will not be possible, you can request, via the app, to create a custom repayment schedule based on your individual financial situation. You can adjust the repayment frequency and amount on the Bridgeover app to better align with your cash flow and budgeting needs.
3. Partial Payments: In cases where you may not be able to repay the full advance amount at once, Bridgeover, on your request, will allow flexibility to make partial payments. This allows you to gradually repay the advance over time, making it more manageable for you.
4. Early Repayment: If you have the financial capability, you can choose to repay your advance earlier than the scheduled payment date. Early repayment can help you save BridgePoints™ and expedite the closure of your advance. To make an immediate repayment, simply contact our support team and ask to pay up.
By providing these flexible repayment options, Bridgeover aims to empower users to manage their cash advance repayment effectively while minimizing financial stress.
It's important to note that there is a transfer cost of $0.95 for each advance repayment starting from the second payment. However, if you pay off your entire advance in one payment, you will not be charged any fees.
There could be a few reasons why you don't have a new cash advance offer available after paying off your previous advance:
Timing Considerations: The ACH withdrawal process can take as long as 2 business days to complete from the time of initiation. Please ensure that you have sufficient funds in your bank account for at least 2 business days following your scheduled payment date. Weekends and holidays are not included in this timeline, so plan accordingly.
BridgePoints™ Availability: If you have utilized all of your available BridgePoints™ or have a negative balance, you may not immediately qualify for a new cash advance offer. However, you will receive a grant of BridgePoints™ on the 1st of every calendar month. Accumulating BridgePoints enhances your eligibility for future advances.
Repayment Behavior: Your repayment behavior, including timeliness and consistency in repaying previous advances, may impact your eligibility for a new cash advance offer. Bridgeover prioritizes responsible borrowing and may adjust offers based on your repayment performance.
Account Linking Issues: If your Bank Account Status in the app is indicated as RED as shown in the screenshot below, there may be an issue with data retrieval from your bank account. To ensure service continuity, refresh your bank account link connection by accessing 'Personal Settings' and selecting 'Refresh Link.'
If you have any further questions or need assistance, please feel free to contact us at support@bridgeover.io or call us at 1-800-472-4230. Our support team is available Monday to Friday from 9:00 AM to 5:00 PM ET.
Absolutely! Bridgeover understands that unexpected financial situations can cause stress. To help alleviate the pressure, we offer flexibility in repayment.
You can split your repayment into multiple smaller payments using our custom repayment schedule feature. Here's how:
Navigate to the Advances tab within the app.
Explore the "Change repayment schedule" option.
Select the amount and date of each payment.
Divide your repayment into up to three smaller payments, aligning with your individual needs and budget, within the offering limitations.
Additionally, if you're in a position to repay earlier than the scheduled date, you can make early payments. Not only does this help reduce stress, but it may also result in savings on BridgePoints™.
It's important to note that if you choose to pay off your entire advance in one payment, you will not be charged any fees. However, there is a transfer cost of $0.95 for each advance repayment starting from the second payment. This charge helps cover transfer costs associated with multiple advance repayments.
If you have any further questions or need assistance, please feel free to contact us at support@bridgeover.io or call us at 1-800-472-4230. Our support team is available Monday to Friday from 9:00 AM to 5:00 PM ET.
We understand that unexpected financial challenges can arise, causing stress and uncertainty. At Bridgeover, we strive to provide flexibility and support to our users during such times.
If you find yourself needing to delay your repayment slightly, we offer options to accommodate your circumstances:
Navigate to the Advances section within the app.
Explore the "Change repayment schedule" option.
Select the date that aligns with your financial situation, within offering limitations, and provides temporary relief from immediate stress.
Please note that the payment deadline for your cash advance varies based on your payroll frequency:
If you’re paid monthly, your Cash Advance deadline is 2 months.
If you’re paid biweekly, your Cash Advance deadline is 6 weeks.
If you’re paid weekly, your Cash Advance deadline is 1 month.
It's important to consider that delaying your repayment may result in additional BridgePoints™ usage. We recommend weighing your options carefully and reaching out to us promptly for personalized assistance.
If you have any further questions or need assistance, please feel free to contact us at support@bridgeover.io or call us at 1-800-472-4230. Our dedicated support team is available Monday to Friday from 9:00 AM to 5:00 PM ET.
Bridgeover is an AI-powered financial wellness platform that partners with employers to support their employees’ financial health. We provide employees access to interest and fee-free emergency funds up to $400, flexible repayment options, and resources for long-term financial stability.
