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How Tappily works

Tappily is straightforward to use - find out all the details here.

Need help? Call 0800 822 3400 or Contact us

Representative Example

Representative Example

Borrowing:
£1,200
Interest:
0.34% per day
for up to 75 days (124% per annum, variable)
Representative:
49.7% APR (variable)
For free independent money advice, see moneyadviceservice.org.uk
Tappily offers a revolving line of credit with straightforward repayment terms. Representative 49.7% APR.
Applying

Applying for Tappily

We’ve designed our application process to get you up and running as quickly as possible.

Am I eligible?

You can apply for a Tappily account if you are:

  • • A UK resident aged 18 or over
  • • Have a salary or other regular income and can demonstrate that you can afford the repayments
  • • Have a current account with Internet Banking

What do you check for?

At Tappily, we take pride in lending responsibly and appropriately. That’s why our checks use the following information:

  • • Your credit history
  • • Your current account activity

What information do I need to provide?

As part of the application process, you will need to link your Tappily account to your current account, so be sure to have the following handy:

  • • Bank account sort code and account number
  • • Debit card details
  • • Internet Banking log-in credentials
Credit options

How much can I borrow

If approved, we will let you know exactly how much credit is available to you. We make an assessment of your creditworthiness based on what you can afford.

How can I be sure Tappily is a responsible lender?

  • • We’re regulated by the Financial Conduct Authority
  • • We are committed to fee clarity. We charge 34p per day for every £100 you borrow and nothing else
  • • We run affordability checks to make sure you are able to meet repayments in a sustainable manner
See more information on responsible lending

What are my borrowing options?

Once you have completed your application and if after we complete our affordability checks you are approved for credit, you can borrow money in the following ways:

  • • Whenever your bank balance is about to go beyond your overdraft limit, switch auto-borrowing ‘on’, then set the balance (protection level) that will trigger us to automatically send you a loan. When we detect that you have reached this limit, we will automatically send a loan to your account to prevent you from entering your unauthorised overdraft.
  • • Whenever you choose, you can borrow up to your available credit from your Tappily dashboard. If you don’t want the automatic borrowing function you can manage your Tappily account manually.
Borrowing

Get the credit you need, when you need it.

Can I decide when I use credit?

  • • Yes, Tappily makes a certain amount of credit available to you, which you can use at any time
  • • Use the ‘Borrow’ facility to borrow at any time, up to your credit limit
  • • Our costs are clear and simple. We charge 0.34% per day for anything you borrow including for the first part day of borrowing until midnight. For example, if you borrow £150 for 4 days, the interest per day would be £0.51 and the total interest would be £2.55 representing five days at £0.51 per day

How do I use the ‘Borrow’ facility?

Provided you have available credit, you can transfer money to your current account instantly from your Tappily dashboard.

What does borrowing cost?

  • • We charge 34p per day for every £100 you borrow
  • • Tappily only charges interest for the days you borrow the money
  • • You can make a repayment at any time - from your Tappily dashboard
  • • It’s free to link your account with us even if you don’t borrow anything

And that’s it...

Once you’ve applied for a Tappily account and have available credit, you can use it whenever you want. You won’t need to apply every time you want to borrow from us.

Unauthorised overdraft protection

How can Tappily’s automatic borrowing help me?

Tappily monitors your account and when your balance drops to a pre-agreed protection level, we can automatically lend you money to stop you falling into your unauthorised overdraft and incurring charges.

How do I switch auto-borrowing ‘on’

If your application is approved, you’ll be able to access your personalised dashboard where you can switch auto-borrowing ‘on’ in the auto-borrowing section.

You will also need to set the protection level that will trigger a loan to be automatically transferred to your account, but don’t worry — we will guide you through this.

How does it work?

Because Tappily’s secure credit facility is linked to your current account, it monitors your bank balance and when it reaches the pre-agreed protection level, it will automatically send you a loan so you avoid entering your unauthorised overdraft.

What does borrowing cost?

  • • We charge 34p per day for every £100 you borrow
  • • Tappily only charges interest for the days you borrow the money
  • • You can make a repayment at any time from your Tappily dashboard
  • • It’s free to link your account with us even if you don’t borrow anything
Repaying

We take repayments in two ways:

  • • Automatically from your current account
  • • Manually whenever you choose

Automatic repayments

When you owe any money to us, we will automatically attempt to take a repayment when we see money coming into your bank account subject to these conditions:

  • • We will only ever take a repayment when your bank balance is higher than the pre-agreed protection level
  • • You can set the maximum limit for each repayment to make sure you are comfortable that no payment will be larger than you can afford. This can be updated easily at any time in the auto-repayments section on your dashboard
  • • We will never take a repayment that takes your balance to a level that would trigger our automatic borrowing feature. To make sure this is the case, whenever we take a repayment we will always leave you with a balance that is at least £30 above the pre-agreed protection level, regardless of whether automatic borrowing is enabled
  • • The minimum amount of money being paid into your bank account that will trigger a repayment to us is £50
  • • If you have not met your minimum repayment required for any month by the set due date, we will attempt to take this minimum repayment from your account to prevent you going into arrears. This is always subject to ensuring that in doing so, we will leave you with a balance £30 above the pre-agreed protection level
  • • If you do go into arrears, we will attempt to collect the due minimum payment (plus any arrears), even if this exceeds the maximum repayment limit set by you
  • • In circumstances where we do not have access to your real-time banking data (for example if you withdraw our access rights or there is a technical failure), then the automatic repayment facility will not operate. In these circumstances, repayments will not be made by reference to your account balance as this will no longer be visible to us. Instead, we will notify you that we are not connected to your bank account and, unless you have otherwise paid it since the statement date, use CPA to take the minimum payment (plus any arrears) on the date your salary or any other regular income is next anticipated by us to be paid into your bank account (the Target Date). We will notify you by email, SMS text or telephone call at least 48 hours before attempting to take payments on the target date
Costs

Straightforward interest costs

  • • Our costs are clear and simple: We charge 0.34% per day for anything you borrow. For example if you borrow £150 for 4 days, the interest per day would be £0.51 and the total interest would be £2.04 representing 4 days at £0.51 per day
  • • Interest is charged on a daily basis including the day we lend to you and you receive funds in your account

Current outstanding balance

You can view your balance at any time by logging in to Tappily and checking your dashboard.

Repaying your balance

  • • When you borrow money from Tappily, the full amount you owe does not have a set payment date although there is a minimum monthly repayment
  • • Our repayment systems are designed to operate automatically to minimise the period of borrowing. If you receive funds into your account from someone other than Tappily and you have sufficient available funds to make repayment whilst leaving you with a buffer to meet other commitments, then a repayment (up to your maximum limit) is automatically attempted
  • • Repayment to us at the earliest possible point means you pay less interest
  • • Please note, we will always leave you with a buffer above your Tappily level and no repayment taken by us should ever take you into your unauthorised overdraft or exceed the maximum repayment limit set by you

If a repayment we take when combined with other commitments does create a problem for you or give you financial difficulties, then please contact us immediately and we will endeavour to remedy the situation or point you in the right direction to obtain help and guidance.

What you see is what we’ll charge

  • • You are only charged interest on the money you borrow
  • • We never add any hidden charges such as transaction fees, early repayment fees, interest on interest, subscription or sign up fees
Linking to your bank

Tappily’s service requires us to have read-only access to your Internet Banking. You need to disclose your online banking log-in details to be considered for a facility. If you are given a facility we review your balance and transactions on a daily basis and monitor any changes in your financial status.

Which account should I use?

  • • Tappily works by linking to your current account. This should be the account that your income gets paid into
  • • This will be the same account that receives any credit we provide to help protect you from unauthorised overdraft charges

Why do you need to link to my current account?

To help you avoid going into your unauthorised overdraft

  • • If you’re approved for a Tappily facility, switch automatic borrowing ‘on’ from your dashboard
  • • When auto-borrowing is switched ‘on’, Tappily can top up your account just as you are about to go into your unauthorised overdraft

...and to ensure we only lend what you can afford to repay

  • • We run automated checks to ensure accuracy when assessing how much money we can make available to you
  • • We carry out a full affordability assessment on your bank account transactions to determine if we should lend to you and if we should then how much

How do you link to my current account?

  • • Tappily links to your current account via your Internet Banking log-in details
  • • This is completely safe and uses bank-level security
  • • We can see your account transactions but we cannot operate or control your account
  • • For more information, please visit our Security page
Money management tools

Check your Tappily status

You can log into your Tappily dashboard at any time to see how much credit is available to you and how much you owe, helping you to keep on top of your finances.

Get the big picture

With Tappily’s easy-to-read interactive graphs, you can track and analyse your spending and develop better money management habits.

Track your spending

Your personalised dashboard shows your spending habits over time, which will enable you to budget more effectively.

Analyse your spending

Our interactive pie-charts automatically categorise your spending so that you can see exactly where you’re spending your money.

Set up your auto-borrowing protection level

If you qualify for credit, you can set up your Tappily account to trigger auto-borrowing. Having auto-borrowing switched ‘on’ can help you avoid unauthorised overdraft fees.