Flexi Cash is the buy-now, pay-later model of PalmPay. This special feature is designed to allow users to access quick loans and make purchases within the PalmPay mobile app while deferring the payment to a later date.
Although this feature provides temporary financial relief to the users, it also comes with an interest rate. Hence, PalmPay customers are activating the feature because of its benefits, while others are disabling it because of the high interest rate and other reasons. So, it is important to understand how this feature works before using it. Nevertheless, in this post, we’re going to show you how to activate and stop the Flexi Cash feature on PalmPay.
What is PalmPay Flexi Cash?
PalmPay offers a buy-now, pay-later program called Flexi Cash. It allows users to access instant loans and make purchases while deferring the payment to a later date.
However, Flexi Cash is designed such that you can spend the whole money within the app without the option for withdrawal. Although this feature provides temporary financial peace of mind, it also comes with an interest rate.
Reasons Why People Stop Flexi Cash
There are some possible reasons why people may want to opt out of the Flexi Credit model. Some of the reasons may be:
- High interest rates.
- breaking out of the chain of perpetual borrowing.
- Unfavorable Flexi Cash terms and conditions.
How to Stop Flexi on PalmPay
Before you even think of stopping your Flexi Cash feature on PalmPay, you must have repaid all the debts that you secured through the model before you’ll be able to disable Flexi Credit. Because of that, let’s go through the steps that you can use to pay off your Flexi Cash debt before talking about disabling it.
- 1. Check your Flexi Cash Balance: This will help you know the exact amount that you’ll repay.
- 2. Check your Repayment Plan: Checking your repayment plan will help you know the due date for paying your debt. It is best to pay off your Flexi Cash debt before the due date to avoid extra charges. You can check your Flexi Cash repayment plan by
- Opening your PalmPay mobile app
- Then click on ‘’Finance’’.
- Tap on ‘’Flexicash’’.
- Once you click on Flexicash, you will be able to see your repayment plan.
- 3. Select the appropriate repayment option: Once you know the exact amount that you want to pay by the due date, the next thing to do is choose the repayment option. To pay off your Flexi Cash debt, follow the simple steps below:
- Sign in to your PalmPay mobile app.
- Tap on the ‘’Finance’’ option.
- Check and review your debt.
- Tap on the ‘’Home’’ tab.
- Check your PalmPay account number (i.e., your phone number that you registered with PalmPay).
- Copy the account number.
- Transfer the exact amount that you’re owing to that account number. You can transfer money from your bank account or by using an ATM card.
- After transferring the money to your PalmPay account, tap on ‘’Finance’’.
- Finally, tap on ‘’Repay’’. And you’re done.
And guess what? After repaying your Flexi Cash debt, you now have the option to stop the service. However, if, after paying off your debt, you don’t see the option to disable Flexi Cash, you can contact the PalmPay customer care unit for help.
How to activate Flexi on PalmPay?
Activating Flexi Cash on PalmPay is quite simple and straightforward. To activate it, follow the simple steps below:
- Login to your PalmPay mobile app.
- Go to the bottom of the homepage and click on the ‘’Finance Menu’’ option.
- Once you click on the finance menu, you will be able to see the Flexi Cash amount that you’re eligible for.
- Now, you can click on the ‘’Get Flexi Credit Limit’’ to activate it and that’s all.
If you follow the above steps correctly, you’ll be able to activate Flexi Cash on your PalmPay account.
Can you withdraw PalmPay Flexi Cash?
Flexi Cash is designed such that you can only spend the money within the PalmPay app. For instance, you can use the Flexi credit to buy data, airtime, fund your betting account or for a cable subscription.
However, if you really want to withdraw your Flexi Cash, you can do that by funding your betting account like Sportybet or Bet9ja and, in turn, transferring the money to your bank account from your betting account.