Deferit is a bill budgeting platform that helps you budget, pay and manage eligible bills.
Whether you are splitting a bill into smaller payments, paying it in full or asking us to negotiate a lower rate on future bills, Deferit offers options to help you manage your bills.
How it works
Deferit offers the following products on the platform:
Pay in 4
With Pay in 4, you can split an approved bill amount into four equal installments, with each installment payable every two weeks. Pay in 4 is subject to availability in your state, approval criteria and an approved balance. To use Pay in 4 you must be a member in good standing. We show your approved balance during sign-up, before you pay a membership fee.
How it works:
- Upload your bill (photo, file, or screenshot)
- Choose how much you’d like us to pay and on which date. Before submitting your Pay in 4 request, review the approved bill amount, all four installment amounts, due dates and applicable fees.
- Depending on the payment method available, Deferit sends payment to your biller or provides a virtual card for you to pay them directly. Processing times apply - see “When will my bill be paid”?
- You pay us back in four fortnightly installments (the first installment is charged on the day we pay your bill). See “When is my first Pay in 4 payment due?” for the first-payment breakdown.
In some cases, we may request a refundable security deposit before approving your first Pay in 4 bill. For more information on this see “What is the security deposit”?
Pay in 2
With Pay in 2, you can split your bill payment into two equal installments, due fortnightly. Pay in 2 is subject to availability in your state, approval criteria and approved balance.
How it works:
- Choose an eligible household bill to pay.
- Review your payment schedule, including payment amounts and due dates.
- Once approved, use the virtual card provided to pay your nominated bill provider using the instructions on the bill. The card is to be used to pay the bill and is not a general purpose payment card.
- Pay back the amount used in two equal payments on the dates shown in your payment schedule.
Use the virtual card before it expires and early enough to meet your biller’s due date. It is for your nominated bill payment only, not general purchases or cash withdrawals. The time your biller takes to receive or process payment is not guaranteed.
Bill Pay (Pay in 1)
With Bill Pay, you can elect for Deferit to pay your bill in one payment (Pay in 1).
Upload an eligible bill through your account. Review the approved bill amount, applicable fees and payment details before submitting.
Bill Savings
We work directly with your bill providers to try to secure a lower rate and save you money on future bills.
How it works:
- Upload a bill (such as internet, phone, or cable) for negotiation
- Our negotiators contact the provider to seek a lower rate
- You keep your service; any savings we secure apply to future bills
- If we secure savings, we split them with you 50/50. You pay our 50% share in four installments, due every two weeks (“Bill Savings Fee”). Note if you are on the Ultra Membership Plan there is no Bill Savings Fee.
- If we don’t secure savings, your only charge is your monthly membership fee.
What kinds of bills can I upload?
You can submit eligible household bills, such as utilities, phone and internet bills, and insurance premiums. Eligibility depends on the product, biller and services available in your account.
For supported and unsupported bill categories, see Article “Which billers can I use?”
Ways to manage your bills
Deferit gives you more control over how you handle your bills — whether you want to:
- Split payments over time with Pay in 4 or Pay in 2
- Pay upfront with Bill Pay (Pay in 1)
- Reduce your future bills through Bill Savings
Simple, flexible bill management, with clear fees so that you know what to expect.