How to read the Payments on a policy

Have more questions? Submit a request

 

On every policy, a record is kept of the payments and transactions that have taken place on it.

To view the Payments on a policy you can either click Payments on the policy menu or scroll down to it.

Screenshot_2023-05-02_at_10.55.07.png

All payments that have been created on a policy are listed here. The most recent payments are at the top of the table. Payments are either:

  1.  Created by the platform:
    • This would be the monthly premiums that are automatically debited, or
    • A pro rata fee that is incurred at the start of the policy.

   2.   Ad hoc collections created by users.

 

For each payment you can see:

  • The date on which the payment was debited from the policyholder’s bank account.
  • A description of the payment. If a payment fails, the bank may provide a one line explanation as to why the payment failed.
  • The payment status.
  • The amount that the bank account was debited with.

The policy's Transaction History provides you with more information about the payments that have taken place on it. This guide provides a detailed explanation of the Transaction History.

 

Our Billing guide provides a detailed overview on what each payment status means, and the reasons that a payment may fail.

 

 

Articles in this section

Was this article helpful?
0 out of 0 found this helpful