This depends on which payment method you choose to use and where you’re paying from. Here's a look at some timelines based on the feedback we’ve received from some of our customers:
- Payments through our app:
- Third-party payment vendors:
- Direct bank transfer:
- Tips to ensure your payments are successfully received by our team:
Payments through our app:
- For recurring payments (USD and EUR loans)
Funds will be debited from your account between the 20th-25th of a given month.
The payment usually takes between 3-12 days to reach us based on international transfers and the multiple intermediary banks the payment must travel through.
- For one-time payments (USD and EUR loans)
In USD, funds will be debited from your account within 1-3 business days and should reach us within 8 business days.
In EUR, funds will be debited from your account within 5 business days and should reach us within 12 business days.
Third-party payment 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.
Remember to use the link we attach in your monthly statement to ensure the payment is easily tracked by the vendor and sent to us.
You'll have to account for international transfers and regulations that may be involved in the international transfer of funds.
Direct bank transfer:
We’ll give you the banking details of our HSBC bank account in your monthly statement.
You’ll need to include your loan reference number in your payment so that we can easily track and allocate your funds on your loan.
This payment method usually takes between 3-8 business days to reach us, depending on where your payment is originating from.
Tips to ensure your payments are successfully received 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.
- If you don’t receive a payment confirmation mail from us within the guideline above, here is what you should do:
- Reach out to us by emailing payments@prodigyfinance.com