Borrowing from Your Real Wallet Line of Credit

This article explains how to open a line of credit with Real and how to borrow funds from it.

Open a line of credit

Currently, the Real Line of Credit is only available to qualified agents in Canada. Credit is available based on an agent’s history with Real. Please check for updates on expanded availability as Real continues to develop its Real Wallet offerings.

Opening a line of credit is a straightforward process that can be started within reZEN.

• Eligibility: Only eligible agents will see an offer to open a line of credit in the Wallet tab in reZEN. If you do not see an offer, you are not eligible at this time.
• Initiating the process: If you are eligible, navigate to the Wallet tab in reZEN. You should see a section to claim and open your line of credit. Click on Claim Now! on the right side of your Wallet page.
• Reviewing the terms: Next, you will be presented with the credit terms, including the Annual Percentage Rate (APR), your monthly minimum payment, and any applicable late payment fees.
• Accepting the agreement: After reviewing the terms, click Agree and Continue.
  Legal terms and signing: You will then need to review the legal terms and conditions and sign the document. Ensure all required fields are completed before clicking Complete.
• Confirmation: Once completed, you will receive a confirmation that your line of credit is open. You will then be able to see your available credit amount.

Congratulations, your line of credit is open! You now have the opportunity to borrow against it.

How to Borrow
This option is only available to qualified agents who have already opened a line of credit with Real.

• Accessing the borrow option: To draw funds from your line of credit, first click on Wallet in reZEN, and then click Borrow from LOC.
• Entering the withdrawal amount: Enter the specific amount you wish to borrow from your available credit line. Once you have entered the desired amount, click Confirm Transaction.
• Review and approval: After submitting your request, please allow up to 24 hours for the Finance Department to review and approve your transaction. You can track the status of your request under Credit Activity in your Wallet; it will be displayed as Pending until it is approved.
• Confirmation of approval: Once your advance is approved, the borrowed amount will be visible under My Credit in the Wallet section of reZEN.
• Funds deposited: The approved advance will then be deposited into your bank account that is on file in reZEN. Please allow 3-5 business days for the funds to reach your account.