How does the Credit Limit impact accepting Leasing deals? Positive Wallet Balance Use case

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A higher Credit limit opens up more opportunities to instantly accept leasing deals, providing greater flexibility in your transactions.

Without it, you may resort to credit card payments incurring a 3% fee, or opt for bank transfers, which could take several days. Please keep reading to review some use cases and examples. 

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Positive Wallet Balance

  1. Company A has a Credit Limit of 50,000 USD

  2. Their wallet balance is also currently positive with +50,000 USD

  3. They start a leasing deal within their Unit Limit for 3 x 40HC

  4. Each unit has a Pickup charge (that Company A has to pay) of 1,000 USD

  5. The deal is worth a total of 3,000 USD in Pickup charges.

  • After Company A accepts the leasing deal they will be prompted to choose how they would like to pay ⬇️
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  • They can click on the Use Wallet to Proceed button

    • This means the company will be instantly issued an invoice in the wallet with a 30-day due time.

    • The deal will be automatically moved to the Release stage.

    • This option is only available if the total amount to be paid is covered by the combination of the available wallet balance and their Credit limit.

      • xChange will always charge from the available positive wallet balance first.
        • Only if the balance is not sufficient, we would charge the Credit limit.

      • If your xChange wallet has insufficient or no positive funds, it will be charged as a negative balance up to the maximum amount set by the Credit limit

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  • They can also click on the Select Payment Method button

    • The company will have the option to complete payment via Credit card or a Bank Transfer

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  • Company B can toggle the xChange Wallet Balance ON combining this with a Credit Card or Bank transfer payment to complete the pending amount.

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  • They can choose to pay via Credit Card

      • The deal will be instantly confirmed

      • But there will be an extra 3% third-party processing fee.

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  • They can choose to pay via Bank Transfer

    • An invoice with all the details needed to complete the bank transfer is provided. 

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    • The deal will remain in a Waiting for payment status until the money is received by xChange.

    • To make the process of payments smoother it helps if you share your payment slip with xChange via Email:

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