We’ve designed our application process to get you up and running as quickly as possible.
You can apply for a SafetyNet Credit account if you are:
At SafetyNet Credit, we take pride in lending responsibly and appropriately. That’s why our checks use the following information:
As part of the application process, you will need to link your SafetyNet Credit account to your current account, so be sure to have the following handy:
If approved, we will let you know exactly how much credit is available to you. We make an assessment of your creditworthiness based on what you can afford.
Once you have completed your application and if eligible for credit, you can borrow money in the following ways:
Provided you have available credit, you can transfer money to your current account instantly from your SafetyNet Credit dashboard.
Once you’ve applied for a SafetyNet Credit account and have available credit, you can use it whenever you want - you won’t need to apply every time you want to borrow from us.
SafetyNet Credit monitors your account and when your balance drops to a pre-agreed level, we can automatically lend you money to stop you falling into your unauthorised overdraft and incurring charges.
If your application is approved, you’ll be able to access your personalised dashboard where you can switch automatic deposits ‘on’.
You will also need to set the level that will trigger a loan to be automatically transferred to your account, but don’t worry — we will guide you through this.
Because SafetyNet Credit‘s secure credit facility is linked to your current account, it monitors your balance and when it reaches a pre-agreed level, can automatically send you a loan so you avoid entering your unauthorised overdraft.
When you owe any money to us, we will automatically take a repayment each time we see money coming into your bank account as follows:
You can choose to make a manual repayment at any time from your SafetyNet Credit dashboard for any amount you wish
Your contractual minimum repayment for the month is as shown on your statement and will be 5% of the outstanding balance of capital and interest subject to a minimum repayment of £20, or if you owe less than £20 the actual amount outstanding.
If you only meet your minimum repayments it will take you longer to pay off your credit and may cost you more in interest.
Please note, that if we see money coming into your account, we may take a payment of more than your minimum payment, as set out in your terms and conditions and the How it Works page. Most of our customers who make repayments fully repay their borrowings on a monthly basis.
You can view your balance at any time by logging in to SafetyNet Credit and checking your dashboard.
If a repayment we take when combined with other commitments does create a problem for you or give you financial difficulties, then please contact us immediately and we will endeavour to remedy the situation or point you in the right direction to obtain help and guidance
SafetyNet Credit’s service requires us to have read only access to your internet banking. You need to disclose your online banking log-in details to be considered for a facility. If you are given a facility we review your balance and transactions on a daily basis and monitor any changes in your financial status.
You can log into your SafetyNet Credit dashboard at any time to see how much credit is available to you and how much you owe, helping you to keep on top of your finances.
With SafetyNet Credit’s easy-to-read interactive graphs, you can track and analyse your spending and develop better money management habits.
Your personalised dashboard shows your spending habits over time, which will enable you to budget more effectively.
Our interactive pie-charts automatically categorise your spending so that you can see exactly where you’re spending your money.
If you qualify for credit, you can set up your SafetyNet account to trigger automatic top up’s. Having Automatic deposits switched ‘on’ can help you avoid unauthorised overdraft fees.