TurnKey Lender supports automatic charging. When it is set up, all the regular payments, defined in the loan schedule (Payments tab) will be automatically charged from the client's default bank account or card (Bank details tab).
Sometimes, there appears a need to stop/suspend charging the customer’s bank account or card (e.g. the customer is changing the card or prefers another way of payment) issuing a new bank card or wants to pay cash).
Therefore, TurnKey Lender provides the ability to suspend all transactions except for custom transactions being charged from the customer’s bank account or card.
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In order to add a custom transaction, go to the Servicing or Collection workplace and open the “Scheduled transactions” tab.
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Suspend transaction window will emerge.
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Select the payments payment period that shall be suspended. It is a list of consequently scheduled payment dates.
The Transaction suspension dates (Start date and End date) will be updated defined automatically.
Leave a comment on the suspension.
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For each transaction, its status, suspension start and end date, amount, and the user who has performed the last action on the transaction are displayed.
Available Statuses:
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- Pre-active: suspension start date has not yet come
- Payment is being suspended (the suspension period has started)
- Removed
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 | Suspension start date is in the future |
 | Suspension start date is today or in the past and the end date is still in the future |
| Suspension is removed |
| Suspension end date is in the past, the suspension wasn't removed but for some reason wasn’t aplied |
Manage Suspended Transactions
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Please note that suspension doesn’t affect the mandatority mandatorness of payment being made, fees, interests, fines, etc. It is just about not using automatic charging to perform the payment. It still can and shall be performed by any other means.
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