When I make a payment through the app, it goes through four key stages:
- Initiated – Your payment has been successfully submitted in the app and is now pending with your bank.
- Guaranteed – Our third-party payment processor has received the funds from your bank.
- Received – The funds have reached Prodigy Finance and are being allocated to your loan.
- Payment Confirmation – You’ll receive an automated email confirming that your payment has been successfully received and allocated.
Here’s how it works, step-by-step:
- After you initiate a payment in the app, the status will update to reflect that your payment is pending.
- Our third-party provider will then request your bank to debit the funds from your account.
- It can take up to 3 business days for your bank to process the debit.
- Once the funds are deducted, your bank confirms the transaction, and the payment status changes to guaranteed.
- From there, it may take 5–10 business days for the funds to reach Prodigy Finance.
- When the funds are received, the payment status updates to ‘Received’, and the payment may temporarily disappear from the app for 24–48 hours while it’s being allocated to your loan.
- You’ll then receive a payment confirmation email once the allocation is complete.
Please Note: Timelines may vary slightly depending on your bank and any public holidays. We appreciate your patience while your payment is securely processed.