Credit cards
Once approved for credit cards, you get assigned:
A
Capital limit- Depending on underwritingA
spending window- Typically on a one month basis, from first to the last day of the monthA
repayment window- Typically between 7 days and 30 days, depending on underwriting
The credit card cycle works like this:
At the end of your
spending window(i.e. on the 1st of the following month) you’ll have a statement issued which outlines the total capital utilised within the month, broken down by transaction.You then have your
repayment windowto fully repay the statement. For example, if you have a 7 day repayment window you must fully repay the statement by the 8th of the month. If you have 30 days then you must repay by the 31st.
Invoice Credit
Once approved, you’ll get assigned:
A
Capital limit- Depending on underwritingA
repayment window- Typically between 30 days and 120 days, depending on underwritingA
fee- Typically between 1% and 4% per month, depending on underwriting.It’s important to note that the fee is fixed over a 30-day period (one month), so your amount due will be calculated according to this formula: Invoice Amount * Assigned fee * Number of months.
Example:
You pay a €100k invoice with Invoice Credit with a repayment term of 90 days at 2% for every 30 days. You’ll repay €100k in principal and €6k (€100k * 2% * 3 months) in fee in 90 days.
The Invoice Credit cycle works like this:
First, you select an invoice to pay with capital (see how to pay an invoice), where you can either schedule the payment for the future or pay immediately. Once the invoice is settled, the invoice is paid and you receive a Juni Capital statement detailing the Invoice Credit utilised, plus the fee.
E.g. From the example above, you’ll receive a statement for €106k
You then have your
repayment windowto fully repay the statement.
To start using Capital
Assign Capital to a specific currency and account
Go to Money > Capital
Select either Credit cards or Invoice Credit
Click on Manage Capital
Select + Add Currency to add more currencies
Select + Edit Capital assigned to assign Capital to a specific account
For credit cards, you also need to:
Go to Money > Capital
Identify the account you'd like to start using credit cards from
Select + Add a card to create a Card
Once the card is activated, you can use it as if it was any other card.
To ensure you have access to transparent and competitive conversion rates, when you move Juni Capital across currencies, Juni uses the following conversion rates:
Currency | Value |
EUR | 1.15 |
GBP | 1 |
USD | 1.25 |
SEK | 12.5 |
NOK | 12 |