Important: this is a brand new feature! If you experience difficulties please contact us so we can help.
We want you to feel in control of your finances so we've added a feature in the app to let you change the bank account your payments come from (instead of requiring assistance from our customer success team)!
In your Possible Finance profile you'll see your current payment account. As well as any other linked banks! (If you don't, you may need to install the latest version of the app.)
Important: you'll need to select a new payment account before your payment begins processing. Once a payment begins processing it can't be redirected to a different bank account. If your payment is already processing, you're welcome to change your payment account anyway. You'll just need to update your payment dates if it comes back as unsuccessful.
To select a new payment account click on the editing pencil right next to your current payment account. You'll then be able to select which bank account you'd like to use for repayment from your linked bank accounts.
Please note: not all bank accounts are eligible as a payment account! Here are the requirements:
- Must be linkable in the app (if you can't link your account, you won't be able to use it to pay)
- Must be a traditional checking account (we can't support prepaid or credit cards at this time)
- Must have a current balance greater than the amount of one payment AND have at least one detectable income deposit
If your bank account is ineligible because it is a prepaid or credit card: your bank account won't be eligible for a while so you'll need to select a different bank account or continue using your current payment account.
If your bank account is ineligible because the current bank balance is too low and we can't detect income deposits: we'll keep an eye on your account and when your balance increases and we detect income it'll become available to use. Just check back later!
If you are trying to add a new debit card, please follow the instructions here.
Note: if your payment is due before your new account is eligible, please update your payment dates in the app for a later date.