Wio Business: Easy Cash Guide (Borrow, Manage & Repay)

What is Easy Cash?

Easy Cash is a flexible, short-term credit feature for Wio Business customers with an active Wio Credit account. It allows you to instantly transfer funds directly from your credit limit into your AED current account whenever your business needs immediate working capital.

Key Features & Benefits

• Instant Cash Access: Transfer up to 25% of your total Wio Credit limit directly into your AED current account in seconds.

• Borrow Multiple Times: Withdraw funds whenever you need, as long as you stay within your available Easy Cash limit.

• Pay Only for What You Use: Daily interest is charged only on the exact amount you borrow and for the number of days you use it.

• Flexible Repayment Options: Repay anytime within 30 days, or extend your repayment period up to 60 days with a minimum payment.

How Limits Work

• Shared Credit Facility: Easy Cash shares a combined limit with your Wio Credit facility.

• Maximum Easy Cash Limit: Set at 25% of your total approved Wio Credit limit.

• Example: If your total Wio Credit limit is AED 50,000, your maximum Easy Cash limit is AED 12,500.

• Impact of Card Spending on Available Limits:

• Your available Easy Cash limit cannot exceed your remaining available Wio Credit balance.

• If your total available credit drops below your maximum Easy Cash allowance, your Easy Cash limit adjusts to match your remaining available credit balance.

• Limit Restoration: Repaying your borrowed Easy Cash principal immediately restores both your available Easy Cash and total Wio Credit limits.

Rates and Fees

How to Borrow Funds Using Easy Cash

1. Open the Wio Business app.

2. From the dashboard or home screen, tap Easy Cash (or go to Credit Money > Wio Credit).

3. Review the things to know before you start screen, then tap Next.

4. Enter the amount you wish to borrow in multiples of AED 1,000 (e.g., AED 1,000, AED 2,000, etc.) up to your available limit.

5. (Optional) Toggle Autopay from saving space after 30 days on or off.

6. Use the on-screen fee calculator to view your daily fees and estimated total payback amount.

7. Review your transfer details and tap to confirm.

8. The funds are transferred immediately into your AED current account.

How to Repay Easy Cash

1. Standard Repayment (Within 30 Days)

• Your standard repayment period is 30 days from the date of your first withdrawal.

• You can make full or partial repayments manually at any time through the app before your due date.

2. 30-Day Extension Option (Up to 60 Days Total)

• If you need more time to repay, you can extend your repayment period for an additional 30 days (up to 60 days from the first withdrawal date) by paying at least 5% of the total borrowed principal by your 30-day due date.

• Note: While on an active 30-day extension, new Easy Cash withdrawals are paused until your remaining balance is fully settled.

3. Automatic Repayment (Autopay)

• On your due date, auto-repayment is automatically initiated from your AED current account.

• If enabled, funds will also be collected from your standard Saving Spaces if your current account balance is insufficient. (Note: Autopay does not debit from Fixed Saving Spaces).

Steps to Repay Manually:

1. Open the Wio Business app and navigate to Easy Cash (or tap Payback under Manage Easy cash).

2. Choose to make a partial payment or tap Repay full.

3. Select your AED current account as the payment source and confirm.

Repayment Allocation Order

Whenever you make a payment toward Easy Cash, the funds are applied in the following order:

1. Accumulated daily interest/fees

2. Borrowed principal

3. Late payment fees (if applicable)

How Repayment Affects Your Account Status

• Full Repayment (100%): Your Easy Cash limit is instantly restored, and you can borrow again immediately.

• Partial Repayment (5% or more by Day 30): Extends your due date up to Day 60 without negatively impacting your credit standing. New withdrawals remain paused until the remaining balance is fully settled.

• Unpaid or Less than 5% Paid by Due Date:

• You will enter a 6-day grace period to settle the minimum required payment.

• If unpaid after the 6-day grace period, a late fee of AED 199 will apply, your credit facility will be locked, and your credit standing may be impacted.

How to Close Your Credit Account

If you wish to close your Wio Credit account:

1. Log in to the Wio Business app.

2. From the dashboard, tap Credit Money, then tap Wio Credit.

3. On the Manage Credit page, scroll down and tap close credit account.

4. If there is an outstanding balance on Wio Credit or Easy Cash, tap Repay full and select Close credit account to settle the balance and complete account closure.

5. If you change your mind during the flow, tap Keep credit account.

Frequently Asked Questions (FAQs)

• Why can't I see the Easy Cash option in my app?

• If you recently activated Wio Credit, complete at least one retail transaction using your credit card/facility. Once that transaction settles, the Easy Cash option will automatically appear in your app.

• Does paying my Wio Credit bill pay off my Easy Cash?

• No. Wio Credit card billing and Easy Cash repayments are separate. Paying your monthly Wio Credit card statement does not automatically clear your active Easy Cash balance.

• Can I withdraw amounts with odd figures (e.g., AED 1,250)?

• No. Easy Cash withdrawals must be requested in multiples of AED 1,000 (e.g., AED 1,000, AED 2,000, AED 3,000).