About Us - Cashplus Company Site

Ahead of the curve

The journey to kickstarting a brilliant business idea or saving for a trip of a lifetime starts here.

Proving it’s possible

Banking services shouldn’t get in the way of life, they should enrich it. Although we’re not a bank, we build on 12 years of success, to continue to create the UK’s most seamless banking services experience. From introducing the first UK prepaid card to being the first non-bank to offer a current account. we’ve been offering innovative products to 1.3 million customers long before the new guys showed up.

An outstanding track record

Total cards issued
to date

Total payments
processed to date

Leading the fintech revolution before ‘fintech’ was a thing. Cashplus is the original UK challenger to banks and the only one to become profitable.

We were founded!

With £7.4 million of funding, we launched the UK’s first general purpose prepaid card.

A milestone for us

becoming a principal member of Mastercard.

We made history

as we launched the first Creditbuilder product in Europe, now helping 30,000+ customers p.a. improve their credit rating.

We became cashflow positive

posting a profit of £500,000. We also launched our consumer lending business.

A big year for us

processing over £1 billion in payments and exceeding 1 million cards issued since the company launched.

We launched the UK’s first

instant approval, online business current account. Also named one of the London Stock Exchange’s Companies to Inspire Britain.

Breaking access barriers once more

we became the first and only non-bank to provide banking services through the Post Office, giving our customers access to the largest over-the-counter banking network in the UK.

We launched a bond of £5 million

giving investors the opportunity to profit from our success. We were also granted full FCA consumer credit permissions.

6 years profitable

36% rise from 2016; nearly 100,000 business accounts opened; a £30million funding line from NatWest & BCI to expand our lending. And, voted Best Challenger Bank in the World by Paybefore, even though we’re not a bank(!).

We hit £10 billion

in transaction volume - with 71% carried out by our SME customers. We also celebrated record profits for the 7th year running!

Ingenious products, simply delivered

We haven’t just talked big, we’ve spent over a decade building a suite of digital banking services, offering instant online application decisions and real-time account information, perfect for an online, on-demand generation.

Debit

From our award-winning instant current accounts, to business expense cards, to travel currency cards, we have a tailored solution, with ground-breaking features, to help businesses and individuals make their money work harder for them.

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Credit

For startups struggling to get a financial foothold, and consumers looking to build or re-build their credit rating, Cashplus can provide a cashflow boost with our unique instant credit solutions and credit cards. And we’re the only UK challenger to banks with a solution that helps to stop Direct Debits rejecting and purchases being declined.

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Products packed with unconventional extras

Creditbuilder™

Helping our customers trying to build their credit history.

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Debit Protect

Unique lending solution that helps to ensure our customers don’t miss their Direct Debit payments.

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Post Office loads

Our deal with the Post Office gives Cashplus customers access to 11,500+ UK Post Offices, to pay-in funds real-time and withdraw cash.

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Merchant settlement accounts

With special features for SME lenders.

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Online instant KYB/KYC

Returning a decision in 5 seconds and allowing us to cut down the time it takes for customers to apply, from days to minutes.

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For people who agree ‘no’ is not an option and now is never soon enough

For entrepreneurs boldly setting up a new business, savvy online shoppers protective of their personal details and wages, and anyone standing up to a banking system that has turned its back on them, Cashplus is the first choice.

SME’s

For nearly 100,000 small to medium businesses, the journey to entrepreneurship has started with Cashplus. 40% came to us after they were declined by a High Street bank. The rest were mostly drawn by our guaranteed instant account opening, once the business and personal details are verified, and for our integration into accounting software for easy cashflow management and tax preparation.

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Sole Traders

For plumbers, taxi drivers, market traders, pub landlords… (we could go on), the Cashplus Business Account is the first choice, with no credit or trading history, or time consuming branch visits required.

Startups

With the help of over 650 leading accountancy, company formation and sharing economy partners, as well as through our direct links with Companies House, we can get an account opened in as little as 3 minutes, for the nearly 600,000 new Limited companies formed per year.

Contractors

Our account opening speed has saved thousands of contractors, caught off guard by the HMRC requirement to have a business account set up to receive their payments.

Consumers

There are 8+ million British consumers sick and tired of the barriers that make everyday banking a chore. For those rejected by the banks or think the banks should be doing better, our debit and credit services aren’t just an alternative but a leap forwards in design, delivery and functionality. So we’re now the primary banking services provider for 30% of our customers – a 200% increase in the last 3 years.

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Sole Traders

Startups

Contractors

Our account opening speed has saved thousands of contractors, caught off guard by the HMRC requirement to have a business account set up to receive their payments.

A name you can trust

We’re authorised, regulated and licensed by the FCA, and the Cashplus Group directly holds all licences and permissions to issue and manage both our consumer credit and e-money products ourselves, unlike most neo and challenger banks.