Your first loan payment is due one month after your loan is issued and the funds are sent to your account, even if your bank takes a few extra days to make the funds available. To pay your loan, you can set up automatic payments or pay by check, phone, or wire transfer.
Sections in this article cover:
- Setting up autopay when you apply
- Pay by check
- Pay by phone
- Pay by wire transfer
- Changing your payment method
- Making extra payments
- Checking your payment history
- Late payments
Setting up autopay when you apply
When you apply for a loan, you’ll be asked to link your bank account. The bank account you provide is where we’ll send your loan funds, and once we’ve verified it, you can set it up for autopay. We make it easy by letting you authorize autopay at the same time you link your bank account. If you prefer to pay by check, click Change This and select check payments instead. You can also make one-time payments by giving us a call.
Automatic payments are debited from your bank account each month when you select the autopay option. Once you’re signed up, you’ll get an email reminder a few days before your payment processes, so you’ll always know when to expect it.
Signing up for autopay is the easiest way to ensure your loan payments are on time. Automatic payments mean you’ll never pay a late fee as long as you have enough money in your bank account. Just make sure there are funds to cover your payment on your autopay day each month, and you’re all set.
Some banks hold funds one business day before the payment, so it's best to have the funds in your account by then.
Pay by check
You can choose to pay by check when you apply for your loan or set this up later by contacting us. Once you’re set up to pay by check, you can send payments by postal or courier mail.
Make your checks payable to LendingClub Corporation, and make sure to write your name and full loan number on the memo line of your check. Here’s an example:
Then, mail your check to us. What address you mail your check to depends on the mailing service you use:
| Postal mail | Courier mail |
| LendingClub Bank | Lockbox Services - #0134268 |
| Lockbox Services – 134268 | LendingClub Bank |
| P.O. Box 884268 | 3440 Flair Dr. |
| Los Angeles, CA 90088-4268 | El Monte, CA 91731 |
If your check arrives by 7 pm Pacific Time, it will be processed the same day. Checks received after 7 pm will be processed the next business day.
Pay by phone
If you'd prefer not to use automatic payments:
- Click Change This when setting up your payment method.
When you’re ready to make your monthly payment, call us at 844-227-5011. Be sure to have your bank account information ready every time you call to make a payment. Payments received before 2 pm Pacific Time will be processed the next business day. Payments received after 2 pm will take another business day to process. For example:
- If you call on Monday at 10 am Pacific Time to make a payment, it’ll be processed on Tuesday.
- If you call on Monday at 3 pm Pacific Time to make a payment, it’ll be processed on Wednesday.
Pay by wire transfer
Wire transfer payments must arrive by 11:30 am Pacific Time if you want them to be processed on the same day. Keep in mind that wire transfers are only processed Monday through Friday. If your wire transfer arrives later than 11:30 am Pacific Time, it will be processed the next business day.
To pay off your loan by wire transfer, give your bank this information:
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Account number: 4121648281 |
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Bank name: Wells Fargo Bank |
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Location: San Francisco, CA |
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ABA number: 121000248 |
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SWIFT code: WFBIUS6S |
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Your full name |
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Your address (This should match the one we have on file for you.) |
Note: Your bank may charge a fee for wire transfers.
Changing your payment method
No matter how you're making loan payments, you can switch your payment method at any time after you've received your loan.
Automatic payments
If you'd like to switch to automatic payments:
- Sign into your Member Center.
- Click Make Automatic Payments.
- On the Payment Options screen, select Make Free Automatic Payments Electronically.
- Click Yes, I want Automatic Monthly Payments.
Other payment methods
If you'd like to switch to check, phone, or wire transfer payments, email us at payments@lendingclub.com or call us at 844-227-5011.
Note: Your bank may charge a fee for wire transfers.
Making extra payments
We don't charge prepayment fees or penalties for loans that are paid off ahead of schedule. Read our articles about how to make extra loan payments or pay off your loan early to learn more
Checking your payment history
You can view your history and check the status of your payments directly from your account.
Here you’ll find:
- Posting Date—the date when the funds were credited from your account
- Amount—total payment amount
- Principal—the part of your monthly payment that is being applied to the loan amount you borrowed
- Interest—the part of your monthly payment that is being applied to interest
- Late Fees—if any, for payments received after the 15-day grace period. We give all borrowers a 15-day grace period to make payments with no penalty
- Principal Balance—the remaining amount you borrowed on your loan, which doesn’t include interest
Late payments
If you're having trouble making your payments, please email us immediately at payments@lendingclub.com or call 844-227-5011. Be sure to have your bank account information ready when you call. We’re happy to help however we can.
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