Prodigy loan repayment - avoid the $30 wire transfer fee when paying your monthly statement
Prodigy only allows payments through money transfers, so when I discovered that I would need to pay extra $30 in transaction fees to make my loan repayment, I was shocked. Including a $30 wire transfer fee for each payment transaction made me wonder if it was a good deal to take that Prodigy loan since I was basically increasing each statement cost by at least 5%. This is $360 a year, money wasted on transaction fees. But there's a way to avoid that, which turns Prodigy into a good loan again. Here is how you can save up to $340 a year on fees using two services - Transferwise and Flywire. *The whole process, from the first money transfer to the payment confirmation by Prodigy takes 6-10 days, so plan accordingly to the payment due date. **This process works if your loan is in US Dollars. Step 1: Create an account on Transferwise (link: https://tinyurl.com/twiseajv ). On the top menu click on “Borderless Account”, “get started”, then “get my free account now”. You migh...