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We've been in the lending industry since 2012. We are on a mission to improve financial well-being and productivity by providing ethical lending solutions and financial know-how to UK workers.
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Knowing where your money goes and cutting unnecessary costs is key to better budgeting. The problem is that it can take a lot of valuable time going through months of statements, categorising transactions and totalling each category. By using Open Banking, our FinFit reports (short for Financial Fitness reports) do that automatically for you.
We believe that understanding and controlling costs is one way to save, and savings can help with difficult situations that may arise in future. Our FinFit budget report looks at your transactions (income and outgoings), categorise them and add them up. We help identify things you may be able to cut back on and, where national statistics are available, we show how you compare with others.
Our budget plan report presents your expenses graphically, so you can quickly see where your money goes and where you can save. To see your financial fitness can access your personalised budget planner or report by logging in to your WorkLoan account online.
Our budget reports are free.
To look at all your outgoings and categorise these in your personalised budget report, we need bank account access. It will let us give you accurate and up-to-date information on your finances.
You’ll need your online banking login details to apply for your budget report. During the application, you’ll be redirected to your bank's Open Banking page, and asked to log in. Your bank will verify it is you. We will never ask for your login details and password ourselves. The access we have to customer bank accounts is read-only – we cannot make changes to a bank account.
You’ll need to provide contact details, some information about your work and the details of your main bank account where you receive your current salary. We will also require an Open Banking connection to the same bank account, so you’ll need those login details too. Other requirements include:
Yes. You’ll find these on our Guides and Help page. We regularly update this section with budget plan ideas, tips on financial wellbeing, guides on how to look after your money and more. It’s all free and should help you feel more in control of your finances.
Find what you’re looking for by using the search field or selecting a category that interests you.
Our loans provide cash when you need a financial boost and offer an alternative to high-interest loans. But it's important that we help in the right way. That's why during any loan application we’ll perform affordability checks to ensure you can meet repayments. There's no guarantee that your application will be accepted. Whether it is or not, we’ll always provide you with a free personal budget report to help you understand your expenses.
If you are approved, loan repayments are deducted from your salary or wages monthly. Your card can also be used to make repayments when convenient. Read more about how our loans can help you.
Answer.
Yes, as long as your employer is signed up with us, you are living in the UK, and you are over 18 years of age. You will also need to agree to Open Banking - so we can view your financial information and categorise your expenses. You will get a personalised budget calculator to help you save money:
1. When you apply for a WorkLoan loan (whether your loan application was successful or not) or,
2. you can apply for your FinFit budget planner separately.
View Getting a loan FAQs.
Answer.
Understanding and controlling costs is one way to save. And having savings to hand can help with difficult situations that may arise in future. Our FinFit budget report will automatically categorise your transactions and present all your expenses graphically, so you can quickly see where you can save.
Answer.
There is no cost; however, your employer must be signed up with us.
Answer.
With Open Banking read only access we will be to see your bank account transactions, this includes your debit card associated with your bank account. If you use a card that is not directly connected to or associated with your bank account, for example, an American Express credit card or a prepaid card, we will not be able to categorise each of those card transactions. We will, however, be able to tell you how much you spend on you credit card monthly, based on your credit card payments, or how much you load onto a prepaid card.
Answer.
The FinFit budget report will total up your transactions (income and outgoings) and show these in categories; this is so you can quickly see your primary areas of spend. It will also help identify areas where you may be able to cut back. Where national statistics are available, it will show how your spending compares with others.