Introduction#
cashplus is a bank with bankruptcy insurance (FSCS). It offers personal bank accounts in GBP (Sort account). After opening an account, Freedom (free plan) charges a card fee of £9.95 or Activeplus (paid plan) charges a monthly fee of £5.95, providing a MasterCard physical card, which is mailed to the address provided during account opening. The physical card must be activated in the App after receipt.
The Activeplus (paid plan) has a monthly account maintenance fee of £5.95, totaling an annual fee of £71.4. It also features a credit builder function, where cashplus will loan £71.4 to cover the user's annual fee, and the user's monthly payment of £5.95 serves as an installment repayment for the annual fee loan, helping users report loan records to improve their credit in the UK.
2024: Cashplus will be renamed Zempler Bank this year.
Registration#
Opening a cashplus account requires filling in personal information and a UK address. The registration process does not require KYC, and if the address can be soft pulled to check the UK credit record, it will be approved instantly.
After the account opening is approved, you will receive a cashplus application number, account number, and soft code. Logging into the cashplus app or website with the application number will require setting up a login account, password, and security questions.
If the address cannot be soft pulled for a credit record, you will be required to provide additional KYC proof and address verification, with the address proof needing to be notarized offline.
Deposit#
- Sort Code UK transfers
- SWIFT international wire transfers
Purpose#
Establish UK credit, overseas service subscriptions, UK bank statements.
Requirements#
- Passport
- Phone number
- UK address
- UK credit
Fees#
| Fees | Freedom | Activeplus |
|---|---|---|
| Monthly Fee | £0 | £5.95 |
| Sort Code UK Incoming/Outgoing | First 9 transactions £0, thereafter £0.99 each | First 20 transactions £0, thereafter £0.99 each |
| SWIFT International Wire Incoming | £15 each | £15 each |
| SWIFT International Wire Outgoing | Not supported | Not supported |
| UK ATM Withdrawals | £0 each | £0 each |
| Overseas ATM Withdrawals | £3 each | £0 each |
| Card Payments in GBP | £0 each | £0 each |
| Card Payments in Non-GBP | 2.99% each | 0% each |
Images#
Ratings#
https://www.trustpilot.com/review/www.cashplus.com
Risks#
Unknown.