Both the lender and the borrower will need to sign up to PayMyParents
This can be a new loan or an existing loan you want to bring over to our system
Both parties sign the formal loan agreement provided by PayMyParents
The Lender transfers the money to the Borrowers bank account via their personal internet banking. Repayments are then automatically transferred between user’s bank accounts via PayMyParents
PayMyParents is designed to help users easily manage their loans in a secure, online environment. PayMyParents does NOT provide any funds for the loan.
The PayMyParents platform can be used to mange any of these options:
We have an Internal Dispute Resolution process . If you have a complaint about our services, please contact us. We aim to resolve the majority of complaints within five (5) business days. If we believe it may take longer to resolve your complaint or to investigate the matter thoroughly, we will let you know and keep you informed of progress.
You can make a complaint in writing (letter or email) or verbally (telephone or personal representation). Your complaint will be referred to our complaints officer for response.
All details are current as of May 20th 2020. We publish minor changes on our website and periodically will update our policies.