If your Prodigy Finance loan includes living expenses, the way you receive those funds depends on your country of study. Different countries have specific banking and regulatory requirements that must be met before funds can be disbursed.
How living expenses are paid
Living expenses are disbursed after your loan has been finalised and your loan agreement has been signed.
In most cases:
- Funds are paid to a bank account in your name
- Account requirements vary by country
- You must complete all required setup steps before funds can be released
Country-specific requirements
Germany
If you’re studying in Germany, students must use a blocked bank account to meet German visa requirements. If your loan includes living expenses, funds are paid to a blocked account with our partner Expatrio.
Learn how to set up a blocked account for Germany - here
United States
If you’re studying in the United States, you will need to set up a Zolve bank account to receive living expenses or enable repayments.
Learn how to set up a Zolve bank account - here
UK & France
Your living expenses will be disbursed to your bank account in your country of study. We’ll use Plaid to securely verify your account and send the funds to your bank account in your country of study once successfully verified.
What kind of bank account can I use?
- The account must be in your name
- It must be able to receive international payments
- Certain digital or restricted accounts may not be supported
Before disbursement, you’ll be asked to provide your bank details so we can confirm that the account is eligible.
See supported banks and how to link your account - here
When will I receive my living expenses?
Living expenses are released once:
- Your loan has been fully approved and finalised
- All required documents have been submitted and verified
- Your bank or blocked account setup has been confirmed
Timing may vary depending on your country and individual circumstances.
What if my country isn’t listed here?
If your study destination isn’t listed here, you’ll receive country-specific instructions as part of your loan finalisation process.
If you’re unsure what setup is required, you can contact our support team or check your application dashboard for next steps.
If you have some questions about Prodigy Finance charging any hidden fees, whether your full cost of studies will be covered, whether forex rates will affect your interest, or if you’ll receive a tax break or not, here is an article that provides as good a Prodigy Finance review as possible.