How do automated payments work?

Accessing automated payments via our premium plans means you are never missing a payment, and there can be no confusion about what’s been paid and when.

Relax, we have your back with automated payments

Whether you have loaned money to someone you love or are borrowing money and need to pay someone back, automated payments are the peace of mind you need.

Automated payments are only available via our premium packages. With a quick and easy set-up, automated payments will ensure you never miss a payment, with updates automatically tracked and logged in your dashboard so there is no confusion on what’s been paid and what is still to come.

How does it work?

All payments that occur on our platform are powered and secured by Stripe. Stripe is a world leader in payment technology and powers some of the biggest sites in the world.

We support all major Australian debit cards and bank transfers. We currently do not support international transactions, but watch for this soon!

Like most payment processing platforms, automated payments incur an additional fee, which is paid directly to Stripe as part of the transaction.

Our mission is to help see Australian’s thrive through financially challenging times, therefore we do not support credit cards or any Buy Now Pay Later options that may place our users at risk of high-interest debt to banks.

Note: Only one of the two parties will need to cover the cost of a Premium plan but you can both benefit from the functionality. This can be either the Borrower or Lender, and you can select which individual that will be during your loan setup.  

Chipkie Premium

$9.90/month

(plus $0.30 + 1.75% transaction fee)

Chipkie Premium Plus

$65/one-off

(plus $0.30 + 1.75% transaction fee)

What are the benefits of automating payments?

Lower the Risk of Missed Payments

Direct debits can be made from your nominated account or debit card on the day it’s due. Your premium account automatically recognises your loan terms, so there is no set-up or having to think about it. Plus, we send a few email reminders before it’s due, just to make sure you know if you need to make any transfers ahead of time.

Accurately Tracked Repayments

You don’t need to worry about miscommunication with premium and automated payments. All repayments will be tracked automatically in both party’s dashboards, and updated that same day, so you can keep accurate logs without disagreements.

No Extra Admin, Freeing Up Valuable Time for More Important Things

Never worrying about when something is due, having to remind someone of a missed repayment, or manually tracking repayments is the peace of mind we all need. Free up that time and extra headspace for the things that matter, like planning your next get-together and spending time with the ones you love.

How do I set up Automated Payments?

There are a few simple ways to upgrade to automate payments via our premium packages. If you are an existing user, head to the dashboard and click on ‘Upgrade to Premium’ or if you haven’t signed up yet, get started by creating a loan and selecting ‘premium’ when prompted. Once your account is confirmed and your loan is approved by both parties you will be prompted to set up your account with Stripe.

You will be redirected to the Stripe page where you will be asked to provide all your relevant information. This should only take a few short minutes. All of your information is safely stored and protected with Stripe. If you have questions about data security, you can learn more here.

Automated payments won’t start until both parties have completed their set-up and we’ll keep sending reminders to both parties to ensure this is done swiftly.

Have Some More Questions?

If you have any questions, please review our FAQ’s page or you can contact us directly via our contacts page.