NOW Finance requires a payout letter issued by the financier which includes:
- Applicant(s) name and
- Valid payout figure and
- Financier’s banking details and
- Current registration certificate confirming asset type and identifiers.
Important: If the payee on the payout letter does not match the financier listed, or if the payout amount on the contract is $101 or more than the payout amount on the payout letter, the settlements team will reject the application at settlement.
You can then make the changes by following the steps in this link: Troubleshooting Irregular Settlements.