How do Cloudfloat’s payment instalments work?

When submitting a tax invoice, you can choose to ‘Pay by instalments’ or ‘Pay in full.’ Instalments allow you to spread payments over 30, 60, or 90 days in weekly or fortnightly intervals. Once your payment option has been selected, you’ll see the first instalment date, cost, and final payment details.



Where can I view my payment schedule?

You can view the payment status, next scheduled instalment, and full repayment plan anytime in the ‘Pay’ section. You will receive an email or SMS notification 24 hours before each upcoming instalment is due.



How are payments made?

Payments are automatically deducted from your Cloudfloat wallet or bank account depending on your selected payment method. Make sure you have sufficient funds to avoid missed payments.



What happens if I miss a payment?

If you miss a payment instalment, you’ll be notified by email and SMS and given 7 days to settle the amount owed. Failure to settle within the first 3 days may impact your credit score, which could affect your future pricing mechanism. If the payment is not settled within the 7-day window, a late payment fee will be applied on top of the amount owed, and your account will be suspended.

If you pay off the amount owed between day 8 and day 21, your account will automatically be reinstated from a suspended to active state. However, delays in settling payments during this period may continue to affect your future pricing mechanism.

Pro Tip: Stay on top of your payments with ease!

On your homepage, you can view all upcoming instalments from different invoices, along with the dates we’ll charge them. Keep everything organised and under control in one place!