Managing my Auto-Debit on the repayment app

What is Auto-Debit?

Auto-Debit is an automatic monthly payment feature available in the Prodigy Finance Repayment App.

Once set up, your monthly instalment will be automatically collected from your selected bank account on your chosen date, helping you stay on track with your repayments.

There are no additional fees for using Auto-Debit. Customers with an eligible bank account can now set up Auto-Debit – an automatic monthly payment feature- through the Prodigy Finance Repayment App.

Supported currencies

You can set up Auto-Debit using eligible bank accounts in:

• AUD (Australian Dollar)
• CAD (Canadian Dollar)
• USD (United States Dollar)
• EUR (Euro)
• GBP (British Pound Sterling)

How to set up Auto-Debit (iOS and Android)

1. Log in to the Prodigy Finance Repayment App.
2. Tap “Pay”, then select “Auto-Debit.” then select “Direct Debit.
3. Confirm the amount due.
   • The app will automatically combine the total amount due across all active loans.
4. Select a debit date between the 12th and the end of the month.
   • Your payment must reach Prodigy Finance by the 28th of each month.
   • Payments typically take 5–8 business days to process, so choose your debit date accordingly.
5. Enter your bank details and authorise the payment.

Once set up, you’ll see a confirmation card on your home screen showing:

• Your debit date
• The amount to be collected

You’ll also receive a reminder a few days before the debit to ensure sufficient funds are available.

When will my first Auto-Debit be collected?

Your first Auto-Debit payment will not be collected on the same day you set it up.

To ensure your Auto-Debit runs successfully:

• It must be set up at least 1 day before your selected debit date.

• If you select a debit date that has already passed in the current month, your first auto debit order will take place on that date in the following month. Important: You must make payment using another available payment method to avoid falling into arrears.

You’ll receive a confirmation email showing the exact date of your first scheduled Auto-Debit once it has been successfully set up.

Updating your Auto-Debit

If you'd like to update your auto-debit information such as the date, amount or bank details, you can do this directly on the App. Simply:

1. Log in to the Repayment App.

2. Tap “Edit Auto-Debit” on your dashboard.

3. Update your debit date, payment amount, or bank account details.

4. Review and confirm your changes.

Once updated, your Auto-Debit will continue using the new details.

Pausing your Auto-Debit

You can pause Auto-Debit for 1 to 3 months, once every 6 months, at no additional cost.

During the pause period:

• Prodigy Finance will not attempt to debit your account
• Auto-Debit will automatically resume once the pause period ends

Important:
Pausing Auto-Debit only stops the automatic collection of funds. It does not change your monthly repayment obligation.

If your loan is not ahead of schedule, you must make your payment using another method. Missing a payment may result in arrears and could negatively impact your credit profile.

Note: If you need to request an additional pause within the same 6-month period, please contact us. We’ll review your situation and see how we can support you.

How to pause Auto-Debit

• Tap “Edit Auto-Debit” on your dashboard.
• Select “Pause Auto-Debit.”
• Choose a pause duration (1–3 months) and a reason for pausing.
• Review the Auto-Debit Details and accept the T&Cs.
• Tap “Confirm and Pause.”
• A confirmation screen will appear once your auto-debit has been successfully paused

Resuming Auto-Debit Manually

You can manually resume Auto-Debit at any point during the pause period.

To Resume:

• Tap “Edit Auto-Debit” on the dashboard.
• Click “Resume Auto-Debit” on the Auto-Debit Details page.
• A success screen will confirm that auto-debit has resumed.

If you do not resume it manually, your auto-debit will reactivate automatically once the pause duration ends.

Need to Cancel Auto-Debit?

Before cancelling, consider pausing your auto-debit instead. Requests must be submitted at least 3 days before your selected debit date to apply for that month.

Why keep auto-debit active?

• Payments are made automatically and on time
• Helps avoid missed payments or late fees
• Supports maintaining a positive credit profile
• No need to remember monthly due dates

If you’d still like to cancel your auto-debit entirely, please contact our support team at

📧 payments@prodigyfinance.com.

Please include:

• The reason for your cancellation
• How do you plan to make future payments

⚠ Cancelling Auto-Debit does not cancel your repayment obligation.

Important

Cancelling Auto-Debit removes the automatic payment setup. You are still responsible for making your monthly payment in full and on time using another payment method.

Important Reminders:

• Ensure sufficient funds are available in your account on your selected debit date.
• Changes to Auto-Debit (pause, resume, or cancel) must be made at least 3 days before your debit date to apply for that month.

• When setting up Auto-Debit for the first time, authorise it before the end of the month for it to apply to your upcoming payment.