- To track a payment – If you need to follow up on a payment that hasn't been received or allocated correctly, you will require proof of payment.
- To allocate a refund – If a refund is being processed, proof of payment is necessary to confirm that the funds were received correctly and to ensure the refund is allocated properly.
What your proof of banking details must include
Your proof of banking details must meet the following requirements:
- Dated within the last 3 months (this can be a bank statement, bank letter, or online screenshot).
- In an uneditable format (e.g., PDF).
- Required information:
- Bank name: Compulsory
- Bank address: Compulsory
- Account holder name: Compulsory
- Account number: Compulsory
- SWIFT/BIC: Compulsory (unless an IBAN is provided). It helps overseas banks identify the correct bank for the transfer.
- IBAN: Not compulsory (only used in Europe and can be up to 34 characters).
- Routing Code: Not compulsory
What should my proof of payment include?
When I send my proof of payment, it needs to be in an unedited format like a PDF. To make sure it's accepted, it should include the following:
- The bank details from where I made the payment
- Prodigy Finance’s bank account details where the payment was received (the account number should match the one Prodigy gave me)
- The date I made the payment
- The amount I paid: If I paid in another currency (like Canadian dollars), I need to show the converted amount in the same currency my loan is funded in
Note: If I made a direct bank transfer, I understand that currency conversion costs might apply, which could make it a bit harder to track the exact amount received.
When do I need to send proof of payment?
I need to provide proof of payment if I used:
- A third-party payment provider (like TransferWise, InstaReM, or Revolut)
- A direct bank transfer