Your monthly instalment is due from your first repayment date on the 28th of each month ("monthly payment due date") stated in your loan agreement.
Our repayment cycle runs from the 8th of the month to the 7th of the following month.
If we receive your payment by the end of the monthly repayment cycle (7th of the month) following your monthly payment due date, your payment is applied to the current repayment cycle.
If your payment is received after the current repayment cycle (the 8th and beyond), your loan account will be in arrears on your next statement and your late payment will be applied to the following repayment cycle.
Important: Because international transfers can take several business days, we recommend initiating your payment early to allow enough time for processing.
How long does it take for my payment to reach you?
Processing times depend on your payment method and the country you’re paying from.
Payments through the Prodigy app
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Recurring payments: Funds are debited between the 12th and the last day of the month.
It typically takes 5–8 business days for funds to reach us. -
One-time payments: Funds are debited within 24 hours of initiating payment.
It usually takes 5–8 business days for funds to reach us.
Third-party providers (Flywire, Wise, Convera, InstaReM)
Payments typically take 3–5 business days to reflect on your loan. To avoid delays, use the payment link provided in your monthly statement so your payment can be tracked and allocated correctly.
Direct bank transfer
Our HSBC banking details are listed in your monthly statement. Always refer to your most recent statement for the correct details. Payments usually take 3–8 business days, depending on the originating country.
Important: Include your loan reference number in the payment description to ensure your funds are allocated correctly.
Tips to ensure your payment is received on time
- Initiate your payment several business days before the 28th
- Allow time for international processing
- Keep sufficient funds in your account for 3–5 days after initiating payment
- Track your payment status in the Transaction History section of the app
If you don’t receive a payment confirmation email within the expected timeframe, please contact our team for assistance.
Here is what you should do:
Reach out to us by emailing payments@prodigyfinance.com
Be sure to include your proof of payment and a SWIFT document in your mail and we’ll assist you with tracking down and allocating your funds.
For quick answers about Prodigy Finance, fees, funding limits, exchange rates, tax implications and more, read through this article for a helpful overview.