Our pricing.
You can find out all you need to know about our charges right here!
The first thing to mention is that there is no set up fee and we don’t charge you anything until you have put your first live agreement through.
Our pricing structure is simple:
2% base charge plus 1% for each instalment. For example, if your customer has a plan over 4 instalments, this would be a 6% charge (2% base and 4% for the 4 instalments). The percentage is capped depending on the product you choose.
Pricing Calculator
Our products – the full lowdown.
Need something a bit different?
If you have customers who wouldn’t typically pass a credit check or you want a bespoke solution tailored to your needs, talk to us about our Advance product.
With our Advance product, you receive a percentage of qualified loans advanced to you at the beginning of the loan term, with the rest paid as it is collected.
It is similar to invoice factoring and good for people who need funds upfront but where the risk doesn’t meet our normal Full Finance criteria.
We are also able to vary the credit check criteria to meet your requirements. It’s an easy way to setup your own finance scheme.
To find out more about the Advance product, email us on support@payitmonthly.uk or call us on 0333 212 3914.
A few things to note.
Will my customers be credit checked?
Yes, All of our products have credit checking turned on by default. It is mandatory for the full finance and guarantee products. If you want to accept customers that have failed the credit check, you can do so, at your risk, subject to the customer passing an affordability check. This incurs an additional 3% charge.
How do I get started?
Open your account with us today by choosing one of the options on this page. You will then need to verify your email address. There will then be two steps to complete, firstly submit a test agreement then fill out a company verification form. We will then get back to you within two working days.
What happens if a customer misses a payment?
On Full Finance or Guarantee you don’t need to worry as you will still be paid. We have a highly trained team who will try to make contact with the customer and work with them to collect missed payments. This is included with all of our products, including standard and basic, for no additional charge.
How do you verify me and my business?
You will need to submit copies of bank statements and accounts, where available. We will also need to complete soft credit checks on the people that run the business.
When do I get paid?
We make payments to you once a month for all qualifying agreements from the previous month. For example, all qualifying agreements from January would be paid across to you in February. Payments for Full Finance are paid on the 10th working day of the month, all other products are paid across on the 6th working day of the month.
Can I charge my customers more?
No, we only offer interest free finance where the customer pays the same by using us as they would by using cash. You can set a minimum spend or only let customers use us on some of your products.
Which product is best for my business?
Normally it is Full Finance. This is because you get paid in full without taking the risk. The other options offer better returns but increase risk and strain on cashflow. If you are in any doubt about what to choose, give us a call and we can talk you through it.
My goods/services cost more that £3,000, can I use you?
Yes, you are able to take your own deposit to bring down the finance value to £3,000 or lower. If you are on Basic or Standard the maximum is £10,000.
I have other questions, can you help?
Yes, you can find a lot more information and guides on our support site or you can ask us.