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How Payments and Vouchers Work
Paying for Leads
When you successfully place a bid on an auction, you will receive a lead. The standard fee for each lead is $19.95. However, there are two ways you can pay for each lead:
- From your account. (If you do not have a balance of at least $19.95 in your account, you can not use this option.) When your bid is successfully processed, $19.95 will be charged to your account. However, after this happens five times, you will receive the next lead for free-- even if your account balance is zero. Then the next five must be paid for, then one is free (buy 5 leads, get the 6th one free of charge), and so on.
- Using a free voucher. You may have been issued a voucher that lets you get leads for free. If you use this voucher, your account will not be charged.
- Using a pre-paid voucher. You can purchase pre-paid vouchers of various sizes, provided you have sufficient funds in your account. Or another lender can purchase them and transfer them to you. If you use a pre-paid voucher, your account will not be charged.
Note that you will not be able to place a bid on an auction unless you have at least $19.95 in your account or you have a valid non-expired voucher. A valid voucher, if available, will always be used rather than charging your account.
How Do I Top Up My Account?
At the bottom of the "My Account" page is a link to the PayPal secure payment site. On the PayPal site you can use a credit card, a bank transfer, or your own PayPal credit to make a payment into your account. This takes a minute or two to process, but once that happens you can use the increased balance to pay for leads or buy vouchers.
Managing Your Vouchers
If you have more than one voucher, you can choose which one gets used next. You can do this by using the arrow buttons to move any voucher up or down. The top voucher will always be used first. When a voucher is used up, it automatically moves out of the "Active Vouchers" area into the "Expired Vouchers" area and the second voucher (if there was one) is now at the top of the list.
How do I buy Vouchers?
If you have sufficient funds in your account, any vouchers you can buy will appear in the "Purchase Vouchers" area. Just click on the "Purchase" button for the type of voucher you want, and it will be added to the bottom of your vouchers list. Your account will be charged the appropriate fee. Multiple-use vouchers have a lower cost per lead than single-use vouchers.
How do I transfer Vouchers to someone else?
You can transfer any voucher to anybody else who is registered with NameYourLoan.com. Just click on the "Transfer..." button for the voucher you wish to transfer, enter the login name of the recipient, and click "Transfer." Note that once you transfer a voucher, it is not yours any more and you cannot use it or transfer it back. However, the recipient can transfer it to you at any time.
