How Ethos Pay Works

Most lenders still structure their loans to be paid once a month. This leaves you worrying whether there will be enough in your account for that monthly payment. But what works best for the lender isn’t always the right plan for you. 

There is a better way to pay! Ethos Pay electronically debits smaller amounts from your bank account more frequently then makes your monthly payment on time.

Our Debit Options Include:

Weekly

We debit ¼ of the monthly loan payment every week. Because there are 52 weeks in a year your lender will be receiving the equivalent of a WHOLE extra payment every year. This option works especially well if you are paid weekly.

Biweekly

We debit 1/2 of the monthly loan payment every other week. Over the course of the year, you will pay the 12 monthly payments; however, 2 monthly payments will include an additional 1/2 payment that was collected from the biweekly debits. This works especially well if you are paid every other week.

Semi-Monthly

With the Semi-Monthly option, we debit ½ the monthly payment twice a month. This gives you the convenience of automatic bill payment on the schedule that works best for you.

Monthly

With the Monthly option, we debit the monthly loan payment. This gives you the convenience of making bill payments through Ethos Pay’s service.