Help: Borrowing money with our Credit Add-Ons 

Business Cash Advance

  • It’s a flexible alternative to a business bank loan.

    Our funding partner Liberis provides small businesses finance in the form of a Business Cash Advance, a simple solution based on advancing your future customer credit and debit card payments. It enables you to access between £2,500 and £300,000, which you only repay as an agreed percentage of your future card sales, mirroring your cashflow.  

    This means when you have a period where sales are slower, the amount you repay will reduce in line with your card sales to give you breathing room. Equally, if your business is doing better than expected, your repayment amount will increase, but the percentage that is retained will always remain the same.

  • As long as you take an average of at least £580 in card transactions per week and have been trading for at least 4 months, you can apply, and you could get an answer within 24 hours. Liberis approve over 70% of applicants and work to be as flexible as possible to support applications and provide small businesses with the money and support they need.

    Please note: Liberis will ask you for Personal Guarantees if you’re applying as a limited company or limited liability partnership.

  • Liberis can provide you with anything between £2,500 and £300,000, dependent on your average monthly card takings; but typically they’ll advance around one months’ worth of card sales. For example, if on average you take £10,000 per month via card payments, this is how much you'll qualify for - however, they can be flexible on this figure. Get an online quote here.

     

     

  •  

    The Liberis Business Cash Advance comes with one fixed cost, simply added to the repayable balance, with nothing to pay up front. There are no penalties or additional fees. Pricing is unique to each business, so for a bespoke price, get a free no obligation quote online at any time.

  • Please see our table below, to find out which credit product combinations you can have on your Current Account:

    Business Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

    Personal Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

     

  • Unlike bank loans, there are no complicated APR’s and no fixed terms. Repayments are only ever taken as a fixed percentage of your future credit and debit card sales - and there are no other fees, penalty charges or hidden costs. This works particularly well for seasonal businesses with a fluctuating cashflow, as when business is quiet, you’ll pay back less. And if business is busy, you’ll be paying back more - always the same percentage of your card takings.

  • Liberis are committed to funding in a responsible way, because in short, it’s the right thing to do. Whilst the Business Cash Advance industry is not currently regulated, they take their responsibilities as a finance provider very seriously.

    They’ve designed their products to be as transparent as possible, to help you make informed choices. Both Liberis and Cashplus are always on hand to answer any questions (and put anything needed in writing too). 

  • If you find your financial situation changes and you’re struggling to keep up with your repayments, you should contact Liberis straight away to discuss how they can support you.

    Alternatively, if you’re experiencing financial difficulty, you should consider contacting the Citizens Advice Bureau who may be able to help you with free information and confidential advice. Please visit www.citizensadvice.org.uk or call 03444 111 444.

  • If you manage your credit responsibly and make all your repayments on time, this could have a positive impact on your credit rating. 

    If you're late with, or miss your repayments, this could hurt your credit rating.

    Liberis will use several sources of information to understand your business, including 3rd party credit bureau checks. They carry out both company and consumer credit history searches, which will leave a record of this search on both credit files, visible to other finance providers - however, neither credit score will be impacted.

  • Absolutely, if you don't want to receive any future credit offers from us, just let us know by emailing us at [email protected]

    If there's a specific product you don't want to receive offers about, please include that in the subject line, so we can let you know when you're eligible for other suitable products.

iDraft

  • It’s a low cost fixed credit limit that’s attached to your Cashplus Personal or Business Current Account. You can automatically dip into it when you don't have any money in your account and use it on anything you choose - from covering bills, to everyday purchases and withdrawing cash. And it's reusable which means you can continue to use the iDraft limit as you pay off the amount you've used in part or in full.

  • The Cashplus iDraft is available only to eligible customers, by invitation.

    Once you've received an offer from us, simply log into your Online Servicing account or the Cashplus Mobile App, navigate to the iDraft screen (within Add-ons or from the tile on your Account Overview) and follow the steps to complete your application. Please remember to read and accept your Credit Agreement.

    Once you've successfully signed up, the annual fee will be deducted from your balance automatically. Your iDraft will normally be added onto your account within a few hours, but if we receive your completed application after 4pm on a Friday or over the weekend, it will be available from midday on the next business day.

  • We've made costs clear and transparent, so that it's easy to budget how much it costs you when you dip into your iDraft limit. There are a couple of costs to be aware of:

    • An annual fee – to cover each year's use of this feature. We'll confirm exactly what this when we send your offer.
    • Daily Usage Fees – There's a flat charge for every day you have a balance over £5. This varies depending on your credit limit and we'll confirm the exact amount in your offer communications and Credit Agreement.

    Late Payment Fees –there’s no late payment fee to pay if you don’t make your repayments on time, because this is covered by your flat daily usage fee.

    Check the "Charges" section of your iDraft Terms and Conditions for more details. Please remember, the quicker you pay back your iDraft balance, the cheaper it could be.

  • No problem. We'll just deduct the fee from your agreed iDraft limit.

  • Over limit fees: No extra fees will be charged, but going over your iDraft limit could damage your credit score.

    Late payment fees: No late fees will apply, but again, please remember that being late with your payments could negatively impact your credit score.

  • Each monthly statement period, we'll send an iDraft statement to your Online Servicing inbox. This will confirm how much you owe in daily usage fees and when it needs to be paid.

    To repay your iDraft, simply pay money into your Cashplus Current Account, via any of the methods you would normally use, no later than the date shown on your statement. We recommend that you pay in full to keep charges to a minimum.

  • Yes, each month we'll send your iDraft electronic statement to your Online Servicing inbox which will show:

    • The total amount borrowed on the iDraft
    • The minimum payment due
    • The total amount of usage fees incurred
    • A reminder of your payment due date
  • Please see our table below, to find out which credit product combinations you can have on your Current Account:

    Business Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

    Personal Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

     

  • At Cashplus, we’re serious about our commitment to responsible lending.

    We strive to be as responsible as possible and try to be completely clear and open about any charges involved with all our products. We offer what we believe you or your business can afford to repay, with an amount that meets both your needs and your ability to make your repayments.

  • If you can’t afford to make your repayment on time, contact us on 0203 059 5784 (calls may be recorded) straight away – we may be able to help.

    Alternatively, if you’re experiencing financial difficulty, you should consider contacting the Citizens Advice Bureau who may be able to help you with free information and confidential advice. Please visit www.citizensadvice.org.uk or call 03444 111 444.

    Please remember, not making payments on time can damage your credit score.

  • Yes, using our credit products could impact your score.

    If you manage your credit responsibly and make all your repayments on time, this could have a positive impact on your credit rating.

    If you're late with, or miss your repayments, this could hurt your credit rating.

  • Absolutely, if you don't want to receive any future credit offers from us, just let us know by emailing us at [email protected]

    If there's a specific product you don't want to receive offers about, please include that in the subject line, so we can let you know when you're eligible for other suitable products.

iAdvance

  • An iAdvance is a short term loan that can be added to your Cashplus Personal or Business Current Account. iAdvance is designed to help you take care of everything from everyday purchases like groceries, to home repairs that just can’t wait.

  • You can borrow the money from 1-25 days. When you sign up for an iAdvance, you can select the exact date you'd like you'd like to repay it. You can always repay earlier than the date selected.

  • You can borrow from as little as £10, in £5 increments up to your approved limit, which we'll confirm when we invite you to sign up.

  • You'll need to be pre-approved for an iAdvance, which you sign up to in your Cashplus Online Servicing account or via the Mobile App.

    As soon as you meet our eligibility criteria, we'll send you a pre-arranged offer and let you know how much you can borrow straight away, by email, and/or an Online Servicing message and/or SMS.

    During the sign up process you'll be able to confirm exactly how much you want to borrow (up to the limit we've approved for you) and for how long you need it up to 25 days. Once you've completed the process, including accepting a credit agreement with us, the money will be in your account within one hour.

    Please note, we regularly review all our customer accounts to ensure we’re only offering products that meet your financial circumstances and work had to responsibly approve as many customers as possible. From time to time, you might find you’re no longer eligible to borrow money with our iAdvance. In these cases, the offer will be removed from your account.

  • There's no arrangement fee to set up your iAdvance, just a flat daily usage fee that's charged when you borrow over £5. The usage fee costs just £0.80 per £100 per day, so if you borrowed £50 for 5 days it would cost you £0.40 per day – so that’s just £2. 

    The faster you pay back the iAdvance, the less it will cost you - and If you want to pay it back faster than you planned, there are no early repayment fees to pay.

    Please note, there's a £15 late fee if you fail to repay your iAdvance on the date you selected. And, making a late payment or missing your payment date could hurt your credit rating.

    Representative example: Amount of credit £87.83 for 12 days, Total amount payable £97.67, Interest rate: 292% pa fixed, Representative 1744% APR.

  • Once you've completed the online sign up process, money's guaranteed to be in your account within one hour.

  • Repaying your iAdvance is easy.

    We’ll take the ‘Total Repayment Amount’ directly from your Cashplus Account on your chosen repayment date. Just make sure that you have enough money cleared in your Cashplus Account to repay the money by the repayment date. If you decide to repay the money early, please call us to get a revised total amount, as it may be lower!

  • iAdvance is one of our most popular account add-ons and we try to make it available to as many customers as we can.

    We understand that it can be frustrating when the offer is no longer showing on your account.

    It may not make you feel better, but  this is a part of our legal commitments to Responsible Lending practices.

    To expand on this as a responsible lender, we’ll only ever offer credit products to customers that meet our eligibility criteria. While we’re not able to confirm the specific details of this criteria, we take into account factors such as how you’re using your Cashplus account, how likely you are to be able to afford the repayments as well as any external changes in your circumstances or credit report.

    We’ll regularly monitor your account to ensure that when you’re eligible to borrow money again we can extend an offer to you and notify you asap.

    Please be aware, our Customer Services team don’t have access to any more information on why your offer is no longer available and can’t manually override this process.

  • At Cashplus, we’re serious about our commitment to responsible lending.

    We strive to be as responsible as possible and try to be completely clear and open about any charges involved with all our products. We offer what we believe you or your business can afford to repay, with an amount that meets both your needs and your ability to make your repayments.

  • Please see our table below, to find out which credit product combinations you can have on your Current Account:

    Business Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

    Personal Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

     

  • If you can’t afford to make your repayment on time, contact us on 0203 059 5784 (calls may be recorded) straight away – we may be able to help.

    Alternatively, if you’re experiencing financial difficulty, you should consider contacting the Citizens Advice Bureau who may be able to help you with free information and confidential advice. Please visit www.citizensadvice.org.uk or call 03444 111 444.

    Please remember, not making payments on time can damage your credit score.

  • Yes, using our credit products could impact your score.

    If you manage your credit responsibly and make all your repayments on time, this could have a positive impact on your credit rating.

    If you're late with, or miss your repayments, this could hurt your credit rating.

  • Absolutely, if you don't want to receive any future credit offers from us, just let us know by emailing us at [email protected]

    If there's a specific product you don't want to receive offers about, please include that in the subject line, so we can let you know when you're eligible for other suitable products.

Debit Protect

  • We designed Debit Protect to help you cover a Direct Debit that would otherwise bounce.

    It's exclusively for use on Direct Debits you have set up to be paid from your Cashplus Account, and we can cover up to a maximum of £1,000 per Direct Debit.

    How it Works

    1. If you've got a Direct Debit due to leave your account, we'll always check your account the day before it needs to be paid, to make sure you've got enough funds available to cover it
    2. If we can see that you're short, we'll let you know so that have time to pay money into your account
    3. At the same time, we'll let you know if you're approved for a Debit Protect loan to give you the option for us to pay the Direct Debit shortfall for you. - We'll send details of this offer to you via email and/or Online Servicing Message and/or SMS
    4. Then it's up to you. To accept the offer, simply follow the Debit Protect sign up process via Online Servicing or the Mobile App.
    5. We'll do the rest and make sure your Direct Debits are paid on time - and save you a rejected payment fee. Please note the amount you borrow will be paid directly to the company you have the Direct Debit setup with - it won't be paid into your account
  • Debit Protect is designed specifically for covering Direct Debits. Whether it's a gym membership or electricity bill, if you're eligible and the payments between £10 and £1,000 - we'll pay it for you.

  • Debit Protect is available to customers that meet our eligibility criteria. If you meet this criteria, and we can see that you're short on funds and have a Direct Debit due, we'll send you a low balance alert. This will include an offer of Debit Protect if we’re able to extend one to you.

    From there, signing up for <Debit Protect> is simple - just login to your Online Servicing account or the Mobile App and select the 'Debit Protect' option from your Account Overview screen or within 'Add-ons'. Follow the on-screen instructions and once you've successfully completed the process, we'll do the rest.

    Because customers’ circumstances can change rapidly, we can’t guarantee that you’ll be approved for Debit Protect. And Again, please note, from time to time we may alter or remove the offer of Debit Protect as we review your eligibility.

  • It depends on the exact amount needed to get your Direct Debit paid. So for example, if the payment is for £199, your Debit Protect would be for £199 and paid directly to the business collecting the Direct Debit payment.

    We can offer a total of up to £1,000 to cover any Direct Debit that’s set-up to be paid from your Cashplus Account when you don’t have enough money in your account to cover the payment.

  • The cost to use Debit Protect is straightforward and will be confirmed in both your offer email, and your credit agreement when you sign up.

    There's a daily usage fee of 80p per £100 per day for each day your loan is outstanding up to 45 days (when you sign up you'll be able to select your repayment date).

    So if we cover a Direct Debit of £50 for you, you'll be charged 40p per day until it's repaid. If you need 10 days to repay that amount, that would cost just £4.

  • We’ll alert you that a Direct Debit looks set to bounce the day before the payment’s due. You then have until 9:00am on the day that the Direct Debit’s due to be paid to sign up for your Debit Protect in Online Servicing and/or the Mobile App.

    Provided you complete the loan setup before this cut-off, we guarantee the Direct Debit will be paid on time.

  • Repaying your Debit Protect is simple – just make sure that you have enough money cleared in your Cashplus Account to repay the Debit Protect by the repayment date (see the question below for details) that you choose when you sign up. On the date you've selected, we’ll then take the amount you borrowed plus any charges confirmed in your agreement, from your Cashplus Account, on your chosen repayment date.

    To make sure you have enough money in your account to repay your Debit Protect, view our free and easy ways to pay into your Cashplus Account.

  • Please see your agreement for confirmation of any charges. And please note, if you don’t make your repayment or you repay late, it could hurt your credit rating

  • Please see our table below, to find out which credit product combinations you can have on your Current Account:

    Business Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

    Personal Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

     

  • At Cashplus, we’re serious about our commitment to responsible lending.

    We strive to be as responsible as possible and try to be completely clear and open about any charges involved with all our products. We offer what we believe you or your business can afford to repay, with an amount that meets both your needs and your ability to make your repayments.

  • If you can’t afford to make your repayment on time, contact us on 0203 059 5784 (calls may be recorded) straight away – we may be able to help.

    Alternatively, if you’re experiencing financial difficulty, you should consider contacting the Citizens Advice Bureau who may be able to help you with free information and confidential advice. Please visit www.citizensadvice.org.uk or call 03444 111 444.

    Please remember, not making payments on time can damage your credit score.

  • Yes, using our credit products could impact your score.

    If you manage your credit responsibly and make all your repayments on time, this could have a positive impact on your credit rating.

    If you're late with, or miss your repayments, this could hurt your credit rating.

  • Absolutely, if you don't want to receive any future credit offers from us, just let us know by emailing us at [email protected]

    If there's a specific product you don't want to receive offers about, please include that in the subject line, so we can let you know when you're eligible for other suitable products.

Creditbuilder

  • Creditbuilder is a 12 month loan that’s repaid with 12 monthly payments equivalent to your monthly fee.

    After you’ve made the first monthly payment, we start reporting your payment history throughout the rest of the loan to two credit reference agencies, and your credit history will be updated. The more loan and credit products that you’ve successfully repaid, the better your credit rating should be. You should notice the change after the first three months.

  • Creditbuilder can be added to your Cashplus Account at no extra cost. You pay NO interest on the 12 month loan and there are NO admin charges – you just pay the usual monthly fee for 12 months.

  • No, when your Creditbuilder agreement is approved we’ll credit your Cashplus Account with the loan which will be used to pay your next 12 months’ Cashplus fees. So no money actually changes hands.

    When the payment’s due for each of the 12 months, we’ll take the normal monthly fee from your Cashplus Account and use it to repay your Creditbuilder loan to Advanced Payment Solutions (APS).

  • APR stands for ‘annual percentage rate’. This takes into account the interest charges and other fees involved with taking out a loan or credit. It’s there to make it easier for you to compare the cost of various loans or credit offers.

    The great thing is with Creditbuilder the APR is 0.0% – so you won’t be charged any interest for it at all.

  • The APR on the Creditbuilder loan is 0.0%, so you don’t pay any interest on it. You just make the 12 monthly payments as you would normally do with a Cashplus Account with a monthly fee.

    Representative example:

    Amount lent by APS: £71.40 for 12 months, 0% interest. 12 monthly payments of £5.95. Total amount payable: £71.40. Representative 0% APR.

  • Yes, a Creditbuilder loan won’t affect how you use your Cashplus card. Just top up your account and use it wherever you see the Mastercard® Acceptance Mark, currently over 35 million locations worldwide.

  • Creditbuilder works by repaying a small loan for your monthly fees. Flexiplus is a pay as you go account, so it’s not designed to work with Creditbuilder. To take advantage of Creditbuilder, please choose a Cashplus Account with a monthly fee.

  • Unfortunately not, for Creditbuilder to work you need to stay on the same price plan for 12 months.

  • You can use your Cashplus card as usual, paying for things and withdrawing money wherever you see the Mastercard Acceptance Mark and enjoying all the valuable benefits that the card offers.

    The only difference is that with Creditbuilder we loan you the fees for 12 months usage of your Cashplus card and then report on your monthly payments to two credit reference agencies. With a ‘normal’ account, you simply pay your fees and we don’t report your payment history.

  • Creditbuilder can only be applied for by a primary cardholder – the person who applied for the Cashplus Account. Additional cardholders can continue to use their card, but Creditbuilder won’t have an effect on their credit rating.

  • You can only have one Creditbuilder account at a time.

  • Absolutely! We’ll invite you by email to re-subscribe to Creditbuilder as soon as we’ve processed your completed loan. You can carry on for as long as you like.

  • After the last of your 12 monthly payments for Creditbuilder has been taken, and the completion of your loan repayment has been reported, your account will return to a normal account. You don’t have to do anything – we take care of it all.

  • It’s really simple. You can sign up in Online Servicing, so long as you already have a Cashplus card on a monthly fee. If you don’t have a Cashplus card yet, sign up now and then you’ll be able to apply for Creditbuilder. Take a look at the main Creditbuilder section of this site to see just how easy it is.

    Offer availability is based on the account remaining in good standing and meeting APS’ credit criteria.

  • We’ll let you know by email if you’re accepted onto Creditbuilder.

  • Once you’ve received your signed customer copy of the Creditbuilder agreement via email, you can cancel it within 14 days, free of charge. Send your cancellation to Freepost CASHPLUS and the loan will be cancelled. After the 14 days, you’ll be bound by the agreement for 12 months unless you repay the loan early. Please note that your Creditbuilder agreement will remain in place for that time even if you terminate your Cashplus agreement within 12 months.

  • A credit rating estimates how well you could cope financially with taking on a loan or more credit. Your rating takes into account how well you’ve paid back what you’ve borrowed in the past, looks at your track record for paying bills on time and even looks at whether you’re on the electoral roll or not.

    The higher your rating, the easier you should find it to get credit in the future.

    Having a good credit rating is very important because it could help you:

    • Get a mortgage approved for a home
    • Get the go ahead to rent a place
    • Pay less for credit in the future
  • As long as you continue to pay your 12 monthly repayments on time, Creditbuilder could improve your rating. If you miss any payments, we’d have to report it to the credit reference agencies, which could have a negative impact on your credit rating.

  • We’ll start making reports to the credit reference agencies when you’ve made your first Creditbuilder repayment. After this, we’ll report your repayments each month. You should notice a change after three payments.

  • Firstly, top up your account to catch up with your payment as soon as possible. If a payment becomes more than 30 days late we have to report it to the credit reference agencies.

    This could impact your chances of getting credit in the future.

  • You can settle your Creditbuilder agreement at any time, after which we’ll report the settled loan to the credit reference agencies. Please be aware that we will only report the number of payments you actually made, so you may not benefit from the full improvement to your rating.

  • A credit reference agency builds up a picture of your track record for repaying loans and credit and it notes if:

    • You’ve been paying bills on time
    • You have any County Court Judgments (CCJs)
    • You’ve been made bankrupt
    • You’re on the electoral roll

    The agencies also look at what you owe overall, and compare it with your assets – the stuff that you own. They then take all the above information and work out your credit rating.

  • You can contact us by phone, but if you’d like to write to us, please use this very short address: ‘Freepost CASHPLUS’. You don’t need a stamp. Just write ‘Freepost CASHPLUS’ on the envelope and post it to us.

  • Please see our table below, to find out which credit product combinations you can have on your Current Account:

    Business Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

    Personal Credit Add-ons

     

    iAdvance

    Debit Protect

    iDraft

    Creditbuilder

    iAdvance

    NA

    ü

     

    ü

    Debit Protect

    ü

    NA

    ü

    ü

    iDraft

     

    ü

    NA

    ü

    Creditbuilder

    ü

    ü

    ü

    NA

     

Terms and Conditions apply, including applicants being resident in the UK &amp; aged 18+ and, if relevant, businesses being based in the UK. For full website terms including information on Cashplus, Mastercard and use of Trademarks, please see our full legal disclosures at https://www.cashplus.com/legal/. **Credit facilities are provided by Advanced Payment Solutions Ltd (APS) and are subject to the AFL Cashplus e-money account being in good standing and applicants aged 18+. APS is authorised and regulated by the Financial Conduct Authority for consumer credit activities (Registration No. 671140). ♦Calls to 03 numbers cost no more than a national rate call to a 01 or 02 number and will count towards inclusive minutes in the same way as 01 and 02 calls. Calls may be recorded.