Creditbuilder fees and charges
It’s free to add Creditbuilder to your Business Extra Account and there are no extra charges or interest.
For anyone considering Creditbuilder, the main thing to bear in mind is that it’s a 12-month contract, committing you to paying your monthly account fee on time. The Business Extra monthly account fee is £9 per month.
FAQs
Nothing.
Remember, you need a Business Extra account to add Creditbuilder. The Business Extra monthly account fee is £9 per month.No. There’s no joining fee, no interest and no added or hidden costs.
Creditbuilder is an add-on for an Activeplus or Business Extra Account, which has a monthly account fee charged regardless of whether you’re using the Creditbuilder tool.
If you no longer want your Activeplus or Business Extra Account, you can change your pricing plan or cancel any time. However, you may have to pay additional fees if you cancel during your Creditbuilder contract.
There’s a 14-day cooling off period from the date the agreement was made, where you can cancel Creditbuilder without fees or needing to make any payments.
If it’s been more than 14-days from the date the agreement was made, you're now in a contract and are committed to Creditbuilder for 12 months. Remember, Creditbuilder doesn't cost any more than having a Business Account and could help improve your credit score.
If you want to cancel your Creditbuilder within the 14-day cooling off period:- Log in to Online Banking or the Zempler Bank app
- Go to Add-ons > Creditbuilder
- Select ‘Cancel Creditbuilder'
- Your Creditbuilder has now been cancelled
To close your Creditbuilder after the 14-day cooling off period, you’ll need to pay any outstanding account fees for the 12-month period you have committed to. To do this:
- Log in to Online Banking or the Zempler Bank app
- Go to Add-ons > Creditbuilder
- Select ‘Close Creditbuilder’
- Repay your outstanding Creditbuilder payments
- Your Creditbuilder has now been closed and your loan repaid
If the monthly account fee is causing concern for you, we offer a personal account with no monthly fee and a free business bank account.
If you’d like to switch, you’ll first need to pay off any remaining amount owed on your Creditbuilder for the 12-month period. Once your Creditbuilder has been paid off, you can switch to another one of our accounts or close your current one.
If you’d like to pay off your Creditbuilder early in full, you can do this via the Bank app or Online Banking. Otherwise, please contact our Customer Service team on 0330 024 0924.
Once this is complete, you can change your pricing plan in-app or online.