We will explain how to use this useful tool that can be found in the “standing orders” feature. The payment calculator will help you to manage your spending and the schedule for each transfer.
Under transfers, you will be able to access the payment calculator. This tool will help you to:
- Calculate the number of payments and amount of each payment you are going to make: to do so, approximate payment dates are given and you will only see the payments included in the current and following year. Take into account that every bank's payment and settlement system is different, so payments established between different banks will vary depending on the business day calendar of each bank.
- Check the approximate payment date and the non-business days, as no payments are made on non-business days.
The payment calculator also includes the following options:
- “Calendar” view: this shows the days and months of the year, and it highlights the days the transfer is sent in blue and the non-business days in red.
- “Payments” View: this is a chart showing information regarding the month, the year, the amount, the number of monthly payments and the approximate payment date.
- Edit payments: this option permits you to edit the details of any payments to be made.