Bankera

So when a microfinance bank asks what Lendsqr costs, the honest answer is: it depends on what you need to connect.

Direct debit mandates have become a common tool for loan repayment, helping lenders automate collections and reduce missed payments. But for many borrowers and even lenders, questions still arise around how these mandates work, what consent really means, and how disputes or cancellations are handled. From setup and authorization to compliance and customer protection, understanding the key aspects of direct debit is essential for building a smooth, transparent, and trustworthy repayment process.

Relying on debit cards for loan repayments in Ghana might just be a fast track to rising defaults and frustrated borrowers. Here’s why debit cards simply don’t work well for loan collections in Ghana.