Currency and Repayment Information
Understand how loan currency, repayment arrangements, exchange rates and payment responsibilities may apply to international financing.
Understand Your Financing Arrangements
International financing arrangements may differ depending on your country, the financing product and the local lending partner responsible for your application.
1. Local Currency
International loans arranged through participating local lending partners are generally denominated in the applicable local currency.
Your proposed loan amount, repayment obligations and applicable charges will be explained in the relevant financing offer and agreement.
2. Repayment Arrangements
Repayment schedules and payment methods are determined by the lending partner responsible for the financing arrangement.
Before accepting an offer, review the repayment frequency, due dates, payment channels and any applicable charges.
3. Exchange-Rate Considerations
Where funds are transferred between different currencies, exchange rates and bank conversion charges may affect the amount received or the cost of making a payment.
Ask the responsible lending partner to explain any currency conversion arrangements before proceeding.
4. Payment Responsibilities
Borrowers are responsible for making repayments according to the terms of their signed financing agreement.
Keep payment confirmations and contact the responsible lending partner promptly if you anticipate difficulty meeting a scheduled payment.
What Should You Confirm Before Accepting an Offer?
Request a clear explanation of all applicable costs and repayment obligations before entering into a financing agreement.
Due Diligence and Underwriting Fee
A due diligence and underwriting fee may apply. The amount depends on the financing terms and applicable region.
Depending on the conditions of the offer, the fee may be payable after conditional approval or before disbursement. It may also be deducted from the approved financing amount.
Where a fee has been paid and an application is subsequently declined, the applicable refund is subject to the stated conditions, less international bank transfer charges capped at $10.
Late Payment Charges
Late payment charges may apply when a scheduled repayment is not received by its due date.
Any applicable charge and the conditions under which it applies should be disclosed in your financing agreement.
Early Repayment
WiseChoice Financials' stated policy is that there are no early repayment penalties.
Confirm the process for obtaining an updated settlement figure and making an early repayment with the responsible lending partner.
Bank and Transfer Charges
Banks and payment providers may impose separate transfer, processing or currency conversion charges.
These charges may be outside the control of the lending partner. Confirm who is responsible for each charge before sending funds.
Verify Payment Instructions
Only make payments using instructions provided through verified communication channels by the lending partner responsible for your application.
Do not send money to an individual or an account that cannot be independently verified. If payment instructions change unexpectedly, contact the responsible partner using previously verified contact details before transferring funds.
Never share your online banking password, card PIN, one-time security codes or other banking credentials with anyone claiming to represent WiseChoice Financials or a lending partner.
Currency and Repayment FAQs
Will my international loan be issued in US dollars?
International financing arranged through local lending partners is generally denominated in the applicable local currency. The currency will be confirmed in the financing offer and agreement.
Who collects my repayments?
Repayments are handled according to the arrangement established by the local lending partner responsible for your financing agreement.
Can exchange rates affect my repayments?
If a payment involves currency conversion, exchange rates and bank charges may affect the amount transferred. Confirm the applicable arrangements with your lending partner.
Will I know the charges before accepting financing?
You should receive information about applicable fees, repayment obligations and other relevant costs before accepting and signing a financing agreement.
What happens if I cannot make a scheduled repayment?
Contact the responsible lending partner as soon as possible. Explain your circumstances and ask whether any repayment assistance arrangements are available. Late payment charges may apply under the agreement.
Can I repay my financing early?
There are no early repayment penalties under the stated WiseChoice Financials policy. Contact the responsible lending partner for the settlement process and any applicable outstanding balance.
Explore Your Financing Options
Submit an international financing enquiry. Your information will be reviewed for possible assistance through an applicable local lending partner.