Frequently missed or late bill payments can have a negative impact on your credit score, in fact, 35% of your Equifax score is based on payment history.
Available exclusively on our mobile app, Borrowell Boost predicts bills and income so you can plan ahead and get a better idea of your cash flow. If you need it, Borrowell offers a fast $75 interest-free advance right to your account to help pay bills on time and save on costly bank fees.
You can try Borrowell Boost for 30 days, free of charge. After this period, there is a monthly subscription of $4.99 + tax (cancel anytime) that is automatically charged to your linked account.
Once you securely connect your bank account, Borrowell looks at your historical transactions to identify recurring bills and income to predict future balances. We use advanced algorithms to identify trends and patterns to help you see what you’ll have in your account and plan ahead.
We use 256-bit encryption, which is the same encryption banks use to ensure your private information is kept safe and secure. We will never share your personal details or initiate transactions from your account without consent. If you notice suspicious behaviour in your account, please contact your bank directly.
Yes, you need to be a Borrowell member to use Boost. Signing up only takes a few minutes and is completely free. As a member, you get ongoing access to your free credit score as well as ongoing personalized tips, tools and support to help you improve your finances.
Currently, Boost is available exclusively on the Borrowell App.
You can choose which bills or income you would like to track when you first set-up your account. After you have completed your initial set-up, you can edit bills and income by tapping on the overview card on the dashboard, then click on the ‘pencil' icon at the top right corner.
If you’re looking to add a new bill or income source, you can find a '+' symbol to the far left of your bills at on the dashboard screen.
You are free to unsubscribe or cancel anytime. You will be able to use Boost for the remainder of the time left on your subscription period.
If you have an outstanding advance, it will be automatically deducted from your account on your selected repayment date. Deleting the application does not mean you have unsubscribed to the monthly subscription.
If we’ve incorrectly identified a bill or income from your transactions, you can remove it by clicking the 'X' icon during your initial set-up. You can remove a bill or income source anytime by tapping on the overview card on the dashboard, then click on the ‘garbage' symbol at the top right corner.
We use historical data to identify upcoming bills, so if you have recently cancelled a subscription it may take one month for this to process. However, if you notice suspicious behaviour or unknown bills on your account, please contact your bank directly.
You can find a copy of your Boost Agreement or the PAD agreement by going to “Settings” in the app, then go to the Boost section.
You can choose the best day to auto-repay within 15 days. Borrowell will automatically suggest an auto-repay date that aligns with your next payday.
There is no separate fee for the advance itself - it’s completely interest-free. Borrowell does charge a monthly subscription fee of $4.99 +tax for Borrowell Boost that includes bill and balance alerts, as well as access to $75 interest-free advance.
The $75 advance is a zero-interest loan underwritten by Borrowell. Borrowell has access to its own capital that is used to fund the advances.
When you request a $75 advance, we give you the option to select an auto-repay date. On the auto-repay date of your choosing within 15 days, Borrowell will automatically attempt to withdraw the funds. If your account is close to overdraft, we’ll attempt to withdraw again when you have sufficient funds.
We process advances Monday through Friday (excluding banking holidays). We’ll typically post funds to your account earlier than the next business day, but actual posting time depends on your bank.
Boost is meant to help you pay your bills on time and provide a short-term bridge. If you need more funds, please see our other options for personal loans: https://borrowell.com/personal-loans.
You can only access another advance after you have repaid the outstanding one. Once your repayment is processed (which can take up to four business days), you'll be able to click the $75 advance button and request another one.
You need to make sure that you've paid back your last $75 advance. Once your repayment is processed on your selected auto-repay date (which can take up to four business days), you'll be able to click the $75 advance button and request another one.
We’re here to help. If you have any questions or concerns about security or features, please contact [email protected].
Borrowell® is a registered trademark of Borrowell Inc. All Rights Reserved. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to determine your credit profile. The score provided to you for educational use is the Equifax Risk Score.
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