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EasyLend is completely free. All transactions and use of the tracking software are free of charge.
All you need is a bank account that can transact online
There are 2 sets of payments that occur: to the lender and to the borrower.
To borrower (from the lender):
The lender has the choice to make the payment through the app or externally through an EFT. The payment through the app is facilitated by Ozow and is secured by Thawte Certificate.
To lender (from borrower):
The lender will have decided if they want to manage the repayments themselves or allow EasyLend to manage the process for them. If EasyLend manages the process, we will initiate a debit order from the borrower’s account into the lenders. The borrower will have accept the debit order request on their banking app (using Debicheck) to authorise the debit order.
The lender and borrower will need to provide their bank details to be able to receive money into their account and for the debit order