diff --git a/src/members-payments.scm b/src/members-payments.scm
index 94a2a19..ccd87e3 100644
--- a/src/members-payments.scm
+++ b/src/members-payments.scm
@@ -147,17 +147,22 @@
    (if apikeys-file
        (let* ((acc-list (load-accounts-list apikeys-file))
 	      (accounts (if acc-list (load-accounts acc-list dir) #f))
+	      (total (length accounts))
 	      (last-checked (get-latest-checked-id checked-fn)))
 	 (if accounts
 	     (with-progress%
 	      #t "Payments"
 	      (progress%-advance 0)
-	      (let ((mbp (foldl (lambda (mb ba)
-				  (members-payments-process-bank mb ba last-checked))
-				mb
-				(filter identity
-					accounts))))
-		(members-base-update mbp identity member-sort-payments)))
+	      (let loop ((mb mb)
+			 (idx 0)
+			 (accounts accounts))
+		(if (null? accounts)
+		    (members-base-update mb identity member-sort-payments)
+		    (let ()
+		      (progress%-advance (/ idx total))
+		      (loop (members-payments-process-bank mb (car accounts) last-checked)
+			    (add1 idx)
+			    (cdr accounts))))))
 	     (let ()
 	       (print "Warning: no accounts loaded!")
 	       mb)))