When a lender owes money to a borrower — typically because a refund created a negative balance on the loan — the Reimburse tool sends the funds back. Reimbursement can be sent to a borrower's existing bank account or card on file, or to a new external instrument. If the borrower's account is closed or unreachable, the agent can add a new payment method and retry.
Availability: All clients Required permissions: loan:reimburse Loan status: Line of Credit loans at any status; installment loans at paidOff Loan types: All (with status restrictions above)
- The tool is disabled if the reimbursement amount is zero. There must be an outstanding balance owed to the borrower.
- Reimbursement processing times vary by method: ACH to a bank account takes 3–5 business days, card reimbursements take 1–3 business days, and checks mailed to the borrower's home address take 5–10 business days.
- Reimbursements can fail — for example, if the borrower's bank account is closed. If a reimbursement fails, contact the borrower to obtain updated payment information and reimburse again.
- Past reimbursements are listed at the top of the form for reference.
- From the agent-view Borrower Portal, open the loan and select Loan options > Reimburse.
- Review the Amount displayed. The full reimbursement amount is shown and cannot be changed.
- Optionally enter an External ID to assign an external transaction identifier. If you select Is external, the actual transfer of funds is handled by the lender, not by Peach.
- Select a Reimbursement method:
- If Is external is not selected: the dropdown shows valid internal bank accounts on file. The system sends ACH to the selected account.
- If Is external is selected: the dropdown shows external payment methods (bank account, check, or card) and an option to add a new instrument.
- If adding a new instrument, complete the instrument details (instrument type, card or bank account information).
- If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
- Select Reimburse.
The reimbursement is recorded and processing begins. The borrower receives email notifications when the reimbursement is scheduled, processing, and if it fails. The reimbursement also appears in the borrower's Activity view.
| Field | Description | Required | Values / Format |
|---|---|---|---|
| Past reimbursements | A list of previously processed reimbursements. | — | Read-only list. Shows "There are no past reimbursements" if none exist. |
| Amount | The reimbursement amount owed to the borrower. Cannot be modified. | — | Read-only (currency) |
| External ID | An external transaction identifier for the reimbursement. | No | Text |
| Is external | When selected, the transfer of funds is facilitated by the lender rather than by Peach. Changes the available reimbursement methods. | No | Checkbox |
| Reimbursement method | The method used to send the reimbursement. Options change based on the Is external setting. | Yes | Select: Internal bank accounts on file (when not external), or external methods — bank account, check, card, or add new instrument (when external) |
| New instrument | Details for a new payment instrument. Only shown when adding a new method. | Conditional | Instrument type (bank account, check, or card) with corresponding detail fields |
| Case ID | The case associated with this action. | Conditional | Select from open cases. Required when forceCaseIdOnAgentActions is enabled. |