At Coast IT, we understand that circumstances may sometimes lead to delayed payments. However, to maintain the continuity of our services, we have a structured policy for handling late payments. Please review the following details regarding late fees, account suspensions, and the impact of compounding interest:
1. Late Payment Fees
As per South African government regulations, Coast IT applies a 2% monthly interest fee on overdue balances. This interest is compounding, meaning that each month’s late fee will be calculated based on the outstanding balance, including any previous interest charges. The compounding nature of this fee can lead to an increase in the total amount owed if payment is delayed for extended periods.
2. Account Suspension After 30 Days
If an account remains unpaid for 30 days past the due date, services associated with the account will be temporarily suspended. Suspension includes restricted access to all active services until the outstanding balance is paid in full. Once payment is received and confirmed, services will be reactivated promptly.
3. Avoiding Late Fees
To avoid late fees and ensure uninterrupted access to services, we recommend making payments by the invoice due date. If needed, consider setting up a stop order through your bank to automate monthly payments (see the Setting Up Automatic Payments section for details).
4. Contact Us if You’re Facing Financial Difficulties
If you are experiencing financial challenges and anticipate difficulty paying on time, please contact our billing support team as soon as possible. We may be able to provide temporary solutions or work out a payment arrangement to help you maintain your services.
Managing Your Account to Prevent Late Fees
You can log into the Client Zone at any time to review invoices, check your payment history, and confirm payment due dates. Staying on top of your account balance helps you avoid late fees and ensure continuous access to our services.
Need Assistance?
For questions about late fees, interest charges, or account suspension, please reach out to our billing support team. We’re here to provide any clarification you need to keep your account in good standing.
