What happens if I miss a payment?

Payments for both BoroCash and BoroDrive are automatic, however you want to make sure you pay on time.

Your payments (both for BoroCash and BoroDrive) are automatically withdrawn from the bank account connected to your Boro profile. 

If you miss a payment, or are more than 15 days past your payment due date, you’ll be charged a late fee of $15 or 5% of your payment amount, whichever is less. 

If your automatic payment is due and you do not have enough money in your account to cover the total payment, you may get charged with an additional NSF fee or non-sufficient funds fee of $15.

There are no fees or penalties for paying off your loan early. You can make BoroCash payments right from the app and make BoroDrive payments right from the Boro website.

 

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