Transactions

Can you debit accounts tied to a BVN?
Unfortunately, not at this time. The ability to do this comes from an initiative by the Central Bank of Nigeria called the Global Standing Instruction (GSI)...
Sat, 28 May, 2022 at 8:19 AM
Can you debit an account with Remita direct debit?
Lendsqr is integrated into the SystemSpecs Remita direct debit infrastructure which allows borrowers to repay their loans using Remita.  For this to hap...
Sat, 28 May, 2022 at 8:22 AM
How do I fund my disbursement account?
Lenders disburse funds from their Lendsqr disbursement account. Every disbursement account has a virtual account attached to it which allows transfer of fun...
Sat, 28 May, 2022 at 10:53 AM
How to view service balance and disbursement account balance?
To be able to view your service balance. please follow the steps below. 1. Go to Services menu within the Lendsqr admin 3. You would see your service amoun...
Sat, 28 May, 2022 at 12:38 PM
What is direct debit?
Direct debit is a means by which a borrower can provide a lender, or anyone else for that matter, the ability to take funds directly from their bank account...
Sat, 28 May, 2022 at 12:42 PM
What is KYC for customers?
KYC (Know your customer/client) is the process of verifying the identity of a customer/user. It helps to prevent financial institutions from being used, by ...
Sun, 17 Apr, 2022 at 10:19 PM
What is partial debit?
Partial debit is a process where Lendsqr is able to recover loans from borrower's accounts even when they do not have enough balance to repay the loan ...
Sat, 28 May, 2022 at 3:15 PM
What is the difference between disbursement and service balances?
Service balance is the amount available within the Lendsqr prepaid balance which is used by the system to pay for services rendered.  On the other band,...
Sat, 28 May, 2022 at 3:21 PM
What is the difference between disbursement book value and face value?
Disbursement Wallet Face Value: This shows the apparent value of the disbursement wallet. The face value is a reflection of what is in your disbursement acc...
Sun, 17 Apr, 2022 at 9:55 PM
Why are users not able to withdraw?
A user might not be able to withdraw from his/her wallet for the following reasons: When your disbursement account is low. When your service balance is l...
Thu, 2 Jun, 2022 at 9:58 AM