We have two timelines for payments on Pigeon - one for the distribution of the loan Principal from the Lender, and one for repayments on outstanding debt from the Borrower.
For Principal payments from the Lender:
Payments via all methods are processed for withdrawal in real time. Meaning, the minute you click submit on moving funds tied to the Principal of a loan, we'll begin confirming it with your bank and sending it through our payment processor.
For repayments from the Borrower:
Bank payments (ACH, SEPA, etc.) are processed 1 time within a 24-hour period at either 3:00 UTC, 11:00 UTC, or 19:00 UTC; whichever comes first given the time & date you scheduled your payment.
If you want to cancel an outgoing payment before any of these times, we recommend you cancel it using the orange "Cancel" button in the Outgoing Payments section of your Profile page. This button will not appear if we are unable to cancel your payment as a result of a cutoff time already passing.
It is not possible to cancel debit or credit card transactions once initiated. Please reach out to us directly if you would like to request a refund & reversal for such a transaction, as it may take a few business days to honor your request.
Contact us directly at [email protected] if you have any questions or concerns.