Frequently asked questions

Anyone aged 18 or over with an email address and a phone number. You choose a checking or savings account while you sign up.

Opening and keeping an Everyday Checking account is free. Transfers to other Finbit customers are free, and every other fee is listed in the price list on our home page.

Transfers between Finbit accounts arrive instantly. Local and international transfers are held while our team reviews them, then sent. You can follow the status in the app.

Choose a deposit method, make the payment, then upload a receipt or screenshot. Your balance updates once our team approves the deposit.

After 5 wrong attempts your PIN locks for 15 minutes. You can set a new PIN at any time from Settings, under Security.

Turn on two-factor sign-in, keep your PIN private and never share codes with anyone. We will never ask for your password or PIN by phone, email or message.

Yes. Move your balance out, then ask us to close the account through a support ticket. There is no closing fee.

No. Finbit is a demonstration project. It does not hold real money and is not covered by any deposit protection scheme.

Yes. You can open an Everyday account for bills and an Interest or Premium account alongside it. Each has its own account number.

Interest is calculated on your balance at the end of each day and paid into the account on the last working day of the month.

You pay the monthly fee for that month only. If your balance is above the waiver level for the whole of the next month, the fee is waived again.

Your company registration details, the address you trade from and ID for each director or owner with 25% or more of the business.

On Plus and Pro you can invite your accountant as a view-only user. On any tier you can export a CSV statement and send it to them.

Most businesses can take online payments within three working days of applying. Card readers are posted once your account is approved.

Policies are arranged by Finbit and provided by partner insurers. The insurer for each policy is named on its summary page.

Yes. Cancel within 14 days for a full refund. After that you can cancel at any time and pay only for the days you were covered.

Call the claims line on your policy summary or start a claim from the app. Keep receipts and photos of any damage.

It depends on your income, outgoings and deposit. An adviser works through your figures with you and shows the monthly cost before you apply.

Every offer lists all fees, including valuation and legal costs. Our remortgage deals include a free valuation and standard legal work.

We contact you six months before it ends with the rates available to you, so you can choose a new deal before moving to our variable rate.

The Fixed Term Saver rate is fixed for the whole term. Easy Access and Goal Saver rates are variable, and we tell you in the app before they change.

Yes, by closing the account. We charge the equivalent of 90 days of interest, and you always get back at least what you paid in.

Interest is calculated on your balance every day and paid monthly. AER shows what you would earn in a year with interest added each month.

No. We use a soft search to show your rate. A full credit check only happens if you accept the offer and apply.

Yes, in full or in part, at any time and with no fee. You only pay interest up to the day you repay.

Once your loan is approved and you sign the agreement, the money is paid into your Finbit account, usually the same working day.

Up to 3 active virtual debit cards per customer. Business accounts can issue up to 20 cards.

Freeze it in the app straight away, then open a support ticket. We will block the card and help you with any payments you did not make.

Only if you do not pay the full balance by the due date. Pay in full every month and there is no interest to pay.

We reply to most messages within one working day. Messages sent at the weekend are answered on Monday.

For anything about your own account, sign in and open a support ticket so we can confirm it is you. Never send your password, PIN or card number by email.

Freeze your cards in the app, change your password, then call us. We will check recent activity on your account with you.