You can make your monthly payments a variety of ways: by enrolling in AutoPay, by signing into your account online, by contacting Customer Service, or by mailing a check.
Do keep in mind that if you have a joint loan, you can only make payments with the bank account that you’ve added within your individual online Prosper account.
In other words, you cannot use your co-borrower’s bank account to make payments unless you’re an authorized user on the bank account and have added it to your own online Prosper account.
Here are more details about the different ways you can make your payments:
AutoPay is a service that automatically schedules and deducts your monthly payment from your bank account on your due date. AutoPay is the preferred option for our borrowers because it offers convenience and reliability; it is the easiest way to avoid late payment fees and make monthly payments on time. If you’d like to turn AutoPay on or off, you can switch at least 3 business days prior to your due date.
You can enroll in AutoPay during the application process, by visiting your account online, or by giving us a call. If you want to activate AutoPay, but would prefer a different payment date, see if you can change your due date.
You can make additional payments online by signing in to your account and authorizing a one-time payment from a bank account that you’ve added to your Prosper account. If you use the online payment method to manually make your monthly loan payment, it is your responsibility to make all payments on time. Payments received before 5:30pm PT will process same-day.
One of our Customer Support specialists can schedule a payment for you giving us a call during our business hours. Be sure to have your bank account information ready if you want to use a new bank account. If you call us to manually make your monthly loan payment, it is your responsibility to make all payments on time. Payments received before 5:30pm PT will process same-day.
Pay by check
You can pay by check, but this option is not recommended. Check payments are applied on the date the check is received and not on the date the check is placed in the mail. This can lead to late fees if the check is not received in a timely manner.
If you select pay by check during the application process, your first payment will still be automatically deducted from your bank account.
If your loan originated on or after August 1st, 2017, and you make your payment by check, you will incur a payment processing charge which you must add to your payment amount. This fee is the lesser of 5% of your payment or $5 (if your payment is greater than $100, you should always add $5).
For all check payments, include the loan ID in the memo section of the check (required). If the check is coming from a third party, please also include the name of the loan holder in the memo.
If you need to pay by check, here's what to do:
Write the check out to Prosper Funding, LLC in the amount you’d like to pay (include any fees) and send it to the following address:
Prosper Marketplace Inc.
P.O. Box 396081
San Francisco, CA 94139-6081
If you’re using an expedited mailing service that needs a signature when it’s delivered, send it to this address instead:
Prosper Marketplace, LLC. Dept. #36081
3440 Walnut Ave, Bldg. A, Window H
Fremont, CA 94538
Send only loan payments to the above addresses. Do not send correspondence.
If you are trying to pay off your loan balance, sign in to your Prosper account, select the “Pay off loan” link and choose the date you’d like to pay your loan off. The “Payoff amount” button will display the balance on your loan on the selected date.
Please don’t hesitate to reach out to customer service with any additional questions you may have about payments.