You can view your available payment options and instructions by logging into your account online, on iOS or Android. Turn on automatic updates to ensure you always have the latest version of the app.
Payment methods
If you’re paying from an eligible bank account:
- Set up an auto-debit for the easiest experience. Each month, Prodigy Finance will automatically collect funds from your account on your chosen date.
- There are no fees for auto-debit, and your payment is guaranteed to arrive on time, every month.
If you're making a One-time direct payment:
- One-time payments made in the Prodigy Finance app will include a small transaction fee of ±0.3% of the payment amount, applied by our payment provider, GoCardless. - see this article for more details. Need help: You're welcome to contact our team and we’ll assist you with setting up your one-time payment.
- You can avoid the fee completely by setting up an Auto-debit. The easiest and most secure way to repay your loan.
- You can still choose to make one-time payments if you prefer, but you’ll need to increase your payment slightly to cover the transaction fee.
If you are not eligible to make payments via our once - off or recurring payment feature on the app:
- We’ve partnered with Flywire, so you can pay using a bank transfer, card, or local payment service.
- Log in to the app to give it a try, or read more information in this article.
If you don’t see a suitable payment option in the app:
- Explore other third-party payment options, like Wise, Convera, Revolut, and InstaReM. If you’re using a third-party provider to pay, please check that they allow transfers from your country to the UK, where our bank accounts are held.
Please note:
- We do not accept cheque (check) payments and currently cannot accept payments via PayPal or cash payments.
- You can also make a direct transfer from your local bank, just ensure you convert the payment to the currency of your loan before making a transfer.
- You’ll find our bank details and routing instructions in your monthly statement, which is emailed to you every month and available in the app.
Making early repayments
- There is no penalty for making early repayments toward your loan.
- Any early repayment made during your study or grace period will be automatically re-amortised to reduce your instalment once your loan enters repayments.
- Early repayments won’t affect any other loan terms or your payment schedule – we'll still expect you to make regular payments during the repayment period as per the original schedule.
Important tips
If you’re using a bank transfer or a third-party payment option, don’t forget these important tips:
- Always include your unique payment reference number, which you’ll find on your statement.
- Make payments in the currency of your loan.
- Plan ahead to ensure your payment reaches Prodigy Finance’s account by the 28th of each month.