Most borrowers who receive a loan through Prosper choose AutoPay because it is the easiest way to make monthly payments on time. Additional payment options are listed below:
AutoPay is a service that automatically schedules and deducts your monthly payment from your bank account on your due date through the automated clearinghouse network. Autopay is the preferred option of 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 decide you want to use a different payment method you can switch anytime within 3 business days prior to your due date.
You can activate AutoPay in step 4 of the loan application, in your online account, or by contacting customer service by telephone. You can find the relevant contact information and hours of operation on Prosper's Contact Us page
You can make additional payments online by signing into your account and authorizing a one-time payment, which will be processed through the automatic clearinghouse network. If you use the online payment method to make your monthly loan payment it is your responsibility to make all payments on time.
Pay by phone:
Payments by phone are processed through the automated clearinghouse network and must be made during Prosper’s business hours (M-F 5am-6pm PST, Sat 6am-2:30pm PST). If you want to make a payment by phone, please contact customer service at 1-866-615-6319. Have your bank account and routing numbers ready in case they're needed to process your payment. If you use the phone payment method to make your monthly loan payment it is your responsibility to make all payments on time.
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).
If you need to submit a check by mail, here's what to do:
Make a check out to Prosper Funding, LLC in the amount of the payment you wish to make and send it to the following address:
Prosper Marketplace Inc.
P.O. Box 396081
San Francisco, CA 94139-6081
Send only loan payments, for example, a check, to the above address. Do not send correspondence.
For all 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 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. Due to mail transit times, quite a few days can pass between the time the check is placed in the mail and when it is received and applied to your account. For any questions you can contact customer service.