This depends on which payment method you choose to use. Here's a look at some timelines:
1. Third-party vendors
If you're using a vendor like Flywire and Transferwise it usually takes 3-5 business days for payments to reflect against your loan. You'll have to account for international transfers and regulations that may be involved in the international transfer of funds.
2. Direct Debit payments through our app
For recurring direct debit:
Funds will be debited from your account between the 20th-25th of a given month.
For one-time direct debit:
In USD, funds will be debited from your account within 1-3 business days.
In EUR, funds will be debited from your account within 5 business days.
Note that it can take an additional 7-12 days for the funds to be received by Prodigy Finance after they’ve been debited from your account.
Here are some helpful tips to ensure your payments are always received successfully by our team:
- We recommend initiating payment no later than the 19th of a given month to make sure your payment is received on time.
- Be sure to have sufficient funds in your account for 3-5 days after initiating the payment.
- You can track the status of your payments in the “Transaction history” section in the app.