How do I pay my Magnifi Financial loan?
Magnifi offers several convenient ways to make loan and credit card payments.
You can make payments:
- From a Magnifi checking or savings account
- From a connected external bank account
- With a debit card, credit card, or external account through ProPay
Option 1: Pay from a Magnifi checking or savings account
You can make one-time or recurring payments directly in Digital Banking using your Magnifi accounts.
How to make a payment in digital banking
- Log in to Magnifi digital banking or the mobile app
- Select Transactions
- Select Loan and Card Payments
- Choose the loan or credit card you want to pay
- Select the payment account
- Choose:
- One-time payment, or
- Recurring payment
- Submit your payment
This option is available for all Magnifi consumer loan types and Magnifi credit cards.
Option 2: Pay using a connected external bank account
You can connect an account from another financial institution and use it to make loan payments in digital banking.
Before you begin
External accounts must first be verified using the micro-deposit (trial deposit) process.
How to connect an external account
- Log in to digital banking
- Follow the steps in the Add External Accounts and Make External Transfers section of Digital Services Support
- Complete the micro-deposit verification process
- Once verified, the external account can be used for loan payments
Make a payment from your external account
After the account is verified:
- Go to Transactions
- Select Loan and Card Payments
- Choose your external account as the payment source
- Submit a one-time or recurring payment
Learn more about adding external accounts:
https://mymagnifi.org/online/digital-services-support.html#external-accounts
Option 3: Pay with ProPay
ProPay allows you to make a Magnifi loan payment using:
- An external checking account
- An external savings account
- A debit card
- A credit card
This option is helpful if you:
- Are not enrolled in digital banking
- Want to make a quick payment
- Prefer to pay with a debit or credit card
Access ProPay here:
https://mymagnifi.org/loans/pay-my-loan.html
Frequently Asked Questions
Can I set up automatic loan payments?
Yes. Members can set up recurring payments through the Loan and Card Payments tool in digital banking.
Can I pay my Magnifi credit card this way?
Yes. The Loan and Card Payments tool can also be used for Magnifi credit card payments.
Do I need digital banking to make a payment?
No. Members can also make payments through ProPay.
How long does it take to connect an external account?
External accounts can be used once the micro-deposit verification process is completed.
I forgot my digital banking password or username. What should I do?
Visit the Log In Help & Troubleshooting section here:
https://mymagnifi.org/online/digital-services-support.html#log-in-troubleshooting