To further clarify the structure of pending payments, we’d like to briefly explain what pending payments consist of and how we are going to improve the overview of them in the near future.
On Mintos, there are two types of pending payments:
- One type represents money that is in the process of being credited to the investor’s account. This is a normal process and applies to the majority of lending companies on Mintos. You can learn more about such pending payments here.
- The other type is funds in recovery. Funds in recovery consist of loans where the lending companies have collected borrower repayments and failed to transfer them, and loans for which the lending companies have not observed the buyback guarantee. This applies to defaulted and some of the suspended lending companies. When funds are in recovery, Mintos hasn’t received and isn’t withholding any money in transit from lending companies that have funds in recovery as pending payments.
As an example of the second type, in the upcoming days, some investors will see an increase in pending payments due to a change of status for Rapido Finance and Eurocent loans. These two lending companies’ loans were previously in late loans status (more than 60 days delayed) and will now be moved to pending payments as funds in recovery.
To make it more clear in the future, investors will see both figures – funds in recovery and pending payments – in their account overview. There will also be a separate dashboard for the funds in recovery, similar to the upcoming pending payments dashboard.
