If your loan payment fails, you will have a 10-day grace period to make the payment. If the payment remains unpaid after the grace period, part of your bitcoin collateral will be liquidated to cover the overdue amount, plus a liquidation fee.

Why did my payment fail?

Loan payments are automatically pulled from your preferred source, which you can change at any time. Payments can fail for various reasons, depending on your selected source:

• Insufficient cash balance: Ensure your Strike account has enough cash to cover the full payment on the scheduled due date and time
• Insufficient bitcoin balance: If paying using your bitcoin balance, make sure you have enough bitcoin to cover the payment amount (denominated in cash), and to account for bitcoin price fluctuations.
• Linked bank account issue: If using a linked bank account, make sure your linked account is connected and valid.
• Deposit limit reached: If your Strike account has no remaining deposit limit, cash deposits or bank transfers may have insufficient capacity to make your payment.

Please note, repeated loan payment failures or late payments can be grounds for loan termination. If you experience any issues involving your loan payments, feel free to contact support in the Strike app.