If the direct debit (either the monthly £4.99 fee or any balance you’ve paid for using the card) is unsuccessful, Currensea will reach out to you to let you know. They’ll let you know the reason why, and will try to collect the payment again.
After 30 days, if the payment is still unsuccessful, you’ll be charged a late fee of £35. After this, if payment still hasn’t been paid, 25% interest is added to the amount you owe, and Currensea will pass the debt along to Ophelos, who will communicate with you to get the money. This will also appear as a missed payment on your credit report every month until it’s paid.
After 150 days, if the money has still not been received, a default will be registered.