Recurring debits are available for customers who have a loan in USD or EUR and have bank accounts located in the United States or select EU countries.
- How does it work?
- When will my recurring debit go off?
- Where can I find the date?
- How to edit or cancel your recurring debit
Setting up the recurring payment is done through our mobile app, which you can download through the below links:
How does it work?
In order to have your recurring payment run in the payment cycle, you must set up the recurring payment before the date it is set to run. You can set up your recurring payment to run between the 12 and 23 of every month.
If you have multiple loans, you will only be able to set up an auto-debit across all your loans as a combined payment.
Here is a step-by-step guide to set up auto-debits for both the iOS/Android and web version of the app:
iOS/Android
- Tap the Pay button.
- If you have multiple loans, select Pay for all my loans at once.
- Select Recurring Payment.
- Add the amount you want to pay each month:
- You can't set up an auto-debit payment for less than the monthly amount due.
- If you set up a custom amount and your monthly due payment increases above the custom amount, we'll debit you according to your monthly amount due.
- Tap Continue with Payment.
- Enter your banking details - make sure these are all correct!
- Tap the Authorize Payment button
- You'll receive confirmation that your auto-debit has been set up that includes the date it will be initiated.
- You can also confirm that the auto-debit is active on your account. Simply go to the Recurring Payment card below your monthly amount due on your loan's page.
Web
- Click Make Payment.
- If you have multiple loans, select Pay for all my loans at once.
- Click Recurring Payment.
- Add the amount you want to pay each month:
- If you set up a custom amount and your monthly due payment increases above the custom amount, we'll debit you according to your monthly amount due.
- Click Confirm Payment Amount.
- Enter your banking details - make sure they are all correct!
- Click Authorise Payment.
- You'll receive confirmation that your auto-debit has been set up that includes the date it will be initiated.
- You can also confirm that the auto-debit is active on your account. Simply go to the Recurring Payment card below your payment history on your loan's page
When will my recurring debit go off?
Recurring debits will go off on the date you selected. In some case, it may take a few days from your date of recurring payment for the funds to be pulled from your bank account, not to worry though, we are aware of when the payment was initiated.
You can select a date that is convenient to you between the 12 and 23 day of the month.
- When making this selection, please remember that the payment can still take between 3 to 12 days to arrive with Prodigy Finance.
Where can I find the date?
You can confirm when your auto-debit will first run by checking the date on the recurring payment card on your home screen. You'll also see the date on the confirmation screen when you first set up your recurring-debit.
Even if you've set up your auto-debit you cans till make changes at any time, directly from the app. Here's a step-by-step guide to editing or cancelling your existing auto-debit:
How to edit your auto-debit
- Tap the Recurring Payments Active card on your home page.
- Tap Edit under your current auto-debit details.
- Make edits to your amount, bank details or any other information.
- Tap Authorize.
Your auto-debit details will then be updated!
How to cancel your auto-debit
- Tap the Recurring Payments Active card on your loan page.
- Tap Edit
- Tap Cancel subscription.
- Confirm that you want to cancel.
Your recurring debit instruction will be cancelled! Remember, this won't cancel any recurring payments that have already been initiated.
