Qoins helps you get out of debt early by automatically making extra payments on your behalf. Once you have added your debt account (where payments are being sent to), selected your contribution method (Roundups or Smart Savings), and linked your funding source (where withdrawals are taken from), you will begin to see activity on your Qoins account.
Each day, we pull in your cleared (not pending) transactions and round them up to the next dollar. Once that "spare change" crosses a minimum threshold of $5.00 or more, we'll make a withdrawal from your connected funding source.
From there, the money is held in your Qoins balance, which you'll be able to see from the Upcoming Payments card in the app. On the date that your payment is scheduled to be sent out, (you can also see this on the same card) we'll send out the entire Qoins balance for that payment, minus our $1.99 fee. Payments can take up to 7-10 business days to your lender to process when sent out, but they're usually processed by lenders much faster than that.