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Automated family-loan repayments in Australia

Schedule eligible card repayments through Stripe, keep both parties updated and record each successful collection in Chipkie.

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Australian Automated Payments

Scheduled repayments without the manual follow-up

For eligible Australian loans, Chipkie uses Stripe to collect scheduled card repayments, pay the lender and update the shared loan record.

Service subscription

A$4.95/month

Charged for Automated Payments on that loan. Either party can choose to cover this upgrade.

Each card collection

1.75% + A$0.30

Added to the borrower’s card charge so the lender can receive the agreed repayment amount.

Setup

How Automated Payments works

1

Choose it for the loan

Select Automated Payments when creating or upgrading an eligible Australian loan.

2

Lender connects Stripe

The lender completes Stripe’s identity and payout-account setup.

3

Borrower adds a card

The borrower completes the secure Stripe checkout for scheduled repayments.

4

Chipkie keeps the record

Successful collections are recorded against the schedule and shown to both parties.

Current payment method: Automated collection is card-based. Australian bank-transfer direct debit and international payment methods are not part of the current Chipkie flow.

What it handles

  • Scheduled collection based on the loan’s weekly, fortnightly or monthly frequency
  • Automatic payment logging when a collection clears
  • Shared status updates for lender and borrower
  • Stripe payout to the lender’s connected account
  • Final-payment adjustment when the remaining balance is smaller than a normal instalment

What it does not promise

  • Approval for every user or card—Stripe eligibility and verification still apply
  • Instant lender payout—timing follows Stripe’s account and payout settings
  • Collection during a paused or materially changed arrangement
  • Debt collection or guaranteed repayment
  • A loan contract—the A$6.95 agreement remains a separate optional product
Real-life changes

When the repayment plan changes

Payment holidays and reduced payments

Chipkie keeps flexibility requests in the shared loan record. When an approved arrangement cannot be collected as the existing fixed amount, Automated Payments may be paused and the parties use manual payments until the standard schedule resumes.

Early or final payoff

If confirmed payments reduce the remaining balance below a normal instalment, Chipkie adjusts the future automated amount so the borrower is not intentionally billed a full instalment that is no longer owed.

Automated Payments FAQs

Common questions

Is Automated Payments available for every Chipkie loan?
No. It is currently available only for eligible Australian loans. Stripe account, identity, card and payout requirements must also be completed.
How much does it cost?
The service costs A$4.95 per month for the loan. Each scheduled card collection also includes processing of 1.75% + A$0.30.
Who pays the card-processing amount?
The borrower’s card charge is grossed up by the processing amount so the lender can receive the repayment amount agreed in the loan schedule.
Can repayments come directly from a bank account?
Not in the current Chipkie Automated Payments flow. The live collection method is an eligible payment card processed through Stripe.
When is the first repayment collected?
If the next unpaid instalment is more than two days away and the loan has no arrears, collection is scheduled for that due date. If a payment is already due, overdue or very close, Stripe may charge the first cycle immediately.
Does the lender receive the money immediately?
Not necessarily. Stripe controls payout timing based on the connected account, verification status and payout schedule. Chipkie records the payment result but does not promise instant settlement.
What happens if the card payment fails?
The borrower is notified that the automated payment needs attention. The loan record should not treat a failed card charge as a successful repayment.
Can Automated Payments be cancelled?
Yes. Use the payment controls for the loan. Once cancellation is confirmed, future repayments return to direct payment and manual logging.
Do I also need the Loan Contract?
No. Automated Payments and the A$6.95 Loan Contract are separate optional products. You can use either one or both.
Does Chipkie hold the repayment money?
No. Stripe processes the collection and lender payout. Chipkie updates the loan record from the payment result rather than holding the repayment in a Chipkie account.

Want repayments handled automatically?

Create the Australian loan, choose Automated Payments and complete the Stripe setup when both parties are ready.

Create a loan with Automated Payments Compare all pricing

Chipkie is not a lender, bank or debt collector. Automated Payments does not guarantee that a payment method will be approved or that every repayment will succeed.