Each lender is assigned a disbursement account, funded via a linked virtual account, to manage loan disbursements, and related transactions.
Loan disbursement account: Every lender on Lendsqr is automatically assigned a disbursement account, which manages loan disbursements and repayments. This account is linked to a virtual account funded by the lender.
You can access your disbursement account by navigating to the “Disbursements Transactions” tab under the “Transaction Management” grouping. The account enclosed in a red box is the virtual account linked to your app
You can also withdraw from your disbursement account.
Settlements: Settlements represent the credit transactions received on the lender’s behalf via various payment channels (USSD, card, bank transfer, etc.). These inflows are processed on a T+1 basis, meaning settlements occur one business day after the transaction date. Transactions made over weekends or public holidays are settled on the next business day. Also note, that your settlement account is different from your disbursement account.
Also read : What repayment methods are available for lenders to get paid?