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Products

Cashplus cards are outstanding because they offer valuable extras as well as built-in features such as free Purchase Protection.

 

Features and services of our consumer products

Our products for consumer and business use offer a range of add-on features and services:

Creditbuilder™ at no extra cost^†

We were the first prepaid card provider in the UK to offer a feature that’s designed to help a customer to improve or build their credit rating. Tens of thousands of customers, from the unbanked to those with debt problems, through to people that are just starting out or have just arrived in the UK, are using Creditbuilder today. In fact, some Creditbuilder users improved their credit ratings by up to 40% in 12 months.

Here’s how the award-winning Creditbuilder works:

• The customer sets up a prepaid card account
• They can then sign up to Creditbuilder online. Once the agreement’s signed, Advanced Payment Solutions Limited (APS) advance the customer a year’s worth of the usual monthly fees – without interest, which is used to pay AFL for their card. No money actually changes hands
• The loan’s paid back on a monthly basis directly from the consumer’s card account with AFL to Advanced Payment Solutions Limited (APS)
• APS reports back to the credit reference agencies. As long as the consumer has made their payments on time and managed any other credit they may have responsibly, their credit rating should improve.

iAdvance loans^†

Existing customers can apply for an iAdvance of up to £400 until their next pay day. This money can be used for everything from paying bills to emergency repairs. Once approved, the money can be paid to the cardholder’s account within just one hour.

We manage everything in-house, from marketing and underwriting to collections.

Cashplus Rewards

Cashplus Rewards is a free service available to Cashplus customers, allowing them to earn money while they spend. The customer simply has to register, then log on to www.cashpluscashback.co.uk and shop from thousands of retailers using the links on the Cashback website, on anything from everyday purchases like groceries and DVDs to the bigger purchases, like a holiday.

Features offered with both our consumer and business products

Free Purchase Protection

Most purchases that customers make using a Cashplus prepaid card are automatically covered for free with Purchase Protection. We can often help them get their money back if:

• The company they’ve paid goes bust
• The items are damaged or faulty
• Goods don’t arrive

With our free Purchase Protection, buying things using a Cashplus card is safer than using cash or a debit card, because when a company collapses, cash and debit card customers rarely get a refund. We’ve already paid out tens of thousands of pounds to our customers, following the collapse of high street names such as MFI and XL Airways

Online banking

With a Cashplus card, consumers and businesses can virtually eliminate cash and cheque payments. Standing orders can be set up in the Members’ Area to take care of regular payments – from utility bills and rent or mortgage to council tax. One-off/ad-hoc payments can also be set up to any UK bank account.

Additional cards

Consumers can have up to four additional cards and businesses can add up to 99 additional cards to an account. There are no additional costs once they’ve bought them. Here are a few of the great reasons for getting additional cards:

• Safe way for kids over 13 to pay
• Manage household expenses
• Cheap alternative to money transfer
• Ideal for when customers are travelling
• Great alternative to corporate cards for employees

Bill Pay

We create accounts where each card is assigned a unique sort code and bank account number in addition to the card number, to facilitate easier online bank transfers, bill payments and disbursements.

Dual Know Your Customer (KYC) authentication

By utilising separate supplier relationships we ensure better ID rates.

Queue management

This enables customers to be called back via our call centre.

^†Creditbuilder and iAdvance are provided by Advanced Payment Solutions Ltd (APS) Creditbuilder is only available with monthly price plans. APS Consumer Credit Licence No. 0608377.

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