BeneMoney loans are repaid through payroll deductions. However, borrowers can also make payments directly from their bank account through the BeneMoney portal. There are two separate processes available: (1) scheduling a one-time payment and (2) scheduling an early payoff. Both begin with the same process shown below.
Schedule a One-Time Payment or Schedule an Early Payoff
Use this option to make an additional payment, make up a missed payment, or reduce a loan balance.
Log in to www.benemoney.com using borrower account credentials.
Select No Credit Check Advance and choose Check Your Account.
Select Make a Payment.
This will kickoff a 5 step process:
1. Choose the loan that should receive the payment.
2. Step two will ask for method of payment. The only option is to pay with bank allow Via ACH at this time.
Below shows the steps for each separate path. Please follow the steps based on if they are making a payment or doing an early payoff.
Option 1: Schedule a One-Time Payment
3. Select the payment amount (regular payment amount or another amount).
4. Enter banking information and select a payment date.
5. Review the Payment Summary and select Make Payment.
Option 2: Schedule an Early Payoff
Use this option when the borrower wants to pay off the entire remaining loan balance before the scheduled maturity date.
3. Select the select the Payoff your loan option.
Note: The payoff amount is calculated using the borrower's payroll schedule and upcoming payroll deduction to ensure the loan is paid off accurately.
4. Enter banking information and select a payment date.
5. Review the Payment Summary and select Make Payment.
Please note that all ACH Payments will take four full business days to fully process in the portal and will display processing until completed on day four.
Important Notes- Payments and payoffs are initiated by the borrower through their BeneMoney account.
- ACH is currently the available payment method.
- Employers should continue following current PDI instructions until updated instructions are received.
- ACH transactions take four full business days to fully process.