Frequently Asked Questions
Have a question? We have answers!
Can I update my banking information online?
If you don't currently have a loan out, simply click here and follow the instructions to enter your new bank account information.
If you need to update or change your banking information after a loan has been initiated, please e-mail our customer service team via the contact form and one of our representatives will assist you with your request. For your safety and security, please do not include your full bank account number or any other confidential banking information in your email. We will respond quickly to process your request.
What type of bank account can I use to apply?
In order to successfully complete the application for a loan with LendUp, you will need a valid checking account that accepts both ACH debit and credit transactions. Most prepaid debit cards will not work. If you are unsure if your bank account accepts these types of transactions, please contact your bank.
I did not receive my email verification code, what do I do?
The email verification code is sent in the first LendUp email you receive, entitled “Welcome to LendUp.” If you did not receive this, please check your e-mail SPAM or junk folder. If you still do not see the e-mail verification code there, please contact us at firstname.lastname@example.org and we will assist you.
I did not receive my phone verification code, what do I do?
If you are certain that you did not receive a phone call with your code, please request the code again by clicking the button that says “Call with code” on the online application. We cannot email your phone verification code.
How do I check the status of my loan application?
Please log onto LendUp.com and you will find a customized dashboard that will contain your loan application status.
When will my loan be deposited into my account?
Here at LendUp we give you the option to choose the method in which is your loan is deposited:
- Standard/Next-Business-Day: We process approved loans and send the transaction to your bank (via ACH) at 5pm PST Monday through Friday (excluding federal banking holidays). Most banks will post the funds to your account by the next business day.
- Instant: If your debit card is eligible for an instant deposit, you should receive your loans within 2 hours of approval. Please note that if your card is not supported, you can still use the standard (ACH) process.
- Same-Day (Wells Fargo only): If you hold a Wells Fargo bank account, you are eligible to select our Same Day deposit service as long as you complete the application process before 11:00am PST. Your funds should appear in your bank account by 2:00pm PST the same day.
For the Instant and Same Day deposit options, additional fees may apply and will be added to the repayment amount.
Why is LendUp a better alternative to Payday loans?
LendUp is a better alternative to payday loans because LendUp loans have no hidden fees, no rollovers, lower interest rates, and clear terms and conditions. We also give you the opportunity to build your credit after you have maintained a positive borrowing relationship with us. LendUp loans are offered exclusively online and on your mobile device so our service is convenient, fast and easy-to-use. We even offer free credit education courses and the opportunity for customers to earn points and climb the LendUp Ladder. LendUp loans are designed to help you build credit, not keep you trapped in debt.
How do I know that this is a secure website?
It is always a good idea to make sure the website you are on is secure. You can verify this by making sure there is a green padlock in the upper left corner of your URL address bar, not simply a picture of a padlock or the word "secure" written on a webpage. You should also make sure the address bar says "https://" before the URL (note the "s" for secure sockets layer, or encryption). When you see both of these characteristics, all communication provided on the website you are on is encrypted and secure. LendUp is a secure website, so you should see the green padlock when you go to our site: https://www.lendup.com/.
In addition, you will notice that the identity of LendUp (Flurish Inc.) at San Francisco, California US has been verified by COMODO Extended Validation Secure Server CA.
Can I use LendUp to build my credit score?
While LendUp loans are designed to help you build credit for the long term, credit building is determined by any number of factors, of which positive repayment history is just one. Alternatives for credit building, such as secured credit cards, or lines of credit from non-profits such as Justine Petersen, are also available to supplement the credit building process. For more information on credit building, please visit the LendUp Blog.
Where is LendUp based?
LendUp is based in San Francisco, California.
How do I contact LendUp?
Easy. All our contact information is available on our contact page.
I just paid back my first LendUp loan. How can I apply for another loan?
You can check the status of your loan by logging onto our website. If the LendUp loan sliders are visible, you may customize another loan.
I would like to take out another LendUp loan, but when I login it says I still have to wait a few more days. Why?
You are only allowed to have one outstanding loan at a time. If you have already paid back your LendUp loan (thank you!), there is a waiting period of 3-4 business days. While we wish this were faster, the processing time is out of our control and required to ensure that your payment was successfully processed by your bank. Once they have notified us of the posted transaction, you will be able to take another loan.
I would like to pay back my loan early. What are my options?
You are able to submit your payment early using a debit card online. All you need to do is sign in to your LendUp account and click on the ‘Pay Now’ option. This must be done by 5:00pm PST the business day before the loan is due. There is an additional fee when using your debit card to cover the cost of the transaction, however there is no processing waiting time, so you can re-apply for a new loan instantly.
What does automatic repayment mean?
LendUp will automatically debit the owed amount from the bank account into which we deposited the funds as part of your loan. We will send you text and email notifications in advance of your due date to remind of the upcoming withdrawal. You also have the choice of paying your loan off early using a debit card. This payment can be submitted online after signing into your LendUp account and must be made by 5:00pm PST the business day before your loan is due.
Will the automatic repayment be withdrawn from the same account it was deposited in?
Yes, our automatic repayment program will debit the same account to which the funds were deposited. We will debit the funds using the same transaction method we used to deposit the funds unless you pay early using your debit card.
If your loan was deposited through your debit card using the instant funding option, the loan will be debited from the same debit card account.
Something unexpected happened and I do not have enough money in my account to pay you back, what are my options?
If you cannot pay back your loan, LendUp offers a free extension for up to 30 days from the loan start date. Please login to your dashboard at LendUp.com and click the 'extend' button. If the 'extend' button does not appear on your dashboard, you are not eligible for an extension. For additional assistance, please contact us at least 24 hours before your loan is due at email@example.com to discuss your repayment options.
What happens if I don't pay back my loan?
We want to keep you as a customer, so please make every attempt to pay us back on time. If you have not already, you can sign in to the dashboard and extend your loan for up to 30 days from the loan's initiation. If you have already extended your loan and still cannot pay us back, please contact us immediately at firstname.lastname@example.org.
If you are still unable to make your payment, the following things can occur:
- We will be forced to suspend your access to our lending service
- Involvement with outside collection agencies
- Possible legal action (if applicable)
- Reporting your account delinquency to multiple credit bureaus
We do our best to help our customers avoid these situations and the resulting consequences which can include: potential increases in fees from other banks, credit unions, auto loans, insurance, cell phone companies, etc. These organizations, and even some landlords, use this information to make judgements about the type of consumer you are, and not paying back a loan can have detrimental effects in other areas of your life.
Remember working with us is a better option than not paying back your loan, so please contact us at anytime. We want the best for you, so anytime you are having issues, let us know and we can work together on a solution.
I need more time to pay my loan back, what can I do?
LendUp offers free extensions for up to 30 days from the loan start date. There is no penalty fee for for using this tool. To extend your loan, simply login to your dashboard at LendUp.com and click the 'extend' button. If the 'extend' button does not appear on your dashboard, this loan is not eligible for an extension.
Can I pay back my loan before the due date?
Yes! You can sign in to your account and click on the link that says, "Repay early with your debit card." This link is located on your dashboard underneath your loan repayment date. The debit card for the transaction is processed instantly and a confirmation message will immediately appear on your dashboard. You can then re-apply for a loan - if needed.
How do I check my account balance and due date?
Please log onto LendUp.com and you will find your customized dashboard that will contain your loan application status and/or all the details concerning your loan.
When will I see my LendUp loans on my credit history?
As you earn points and move up the LendUp Ladder, you move closer to credit-building loans that are reported to the major credit bureaus. LendUp Platinum is the first level at which this feature becomes available. Each individual bureau determines the exact timeline in which this information is recorded and displayed on your credit report.
Can I refer a friend?
Yes you can! You can send your friends a link that will enable them to submit an application for a loan through LendUp. Sign into your LendUp account and use the referral link to email your friends. Please make sure that they use the link to apply, otherwise we will not know that they have been referred by you! https://www.lendup.com/friend
If you have a question that is not on here and you think it should be, please submit it to FAQ@lendup.com