Introduction#
cashplus is a bank with bankruptcy insurance (FSCS). It provides personal banking accounts in British currency (Sort account). After opening an account, you can choose between the Freedom (free plan) with a £9.95 card activation fee or the Activeplus (paid plan) with a £5.95 monthly fee. It provides a physical MasterCard that will be mailed to the address provided during account opening. Once you receive the physical card, you can activate it within the app.
The Activeplus (paid plan) maintains an account fee of £5.95 per month, totaling £71.4 per year. It also has a credit builder feature where cashplus pays £71.4 as a loan to cover the user's annual fee. The user then repays the loan in installments of £5.95 per month, helping to improve their credit record in the UK.
2024: Cashplus will be renamed Zempler Bank this year.
Registration#
To open a cashplus account, you need to provide personal information and a UK address. The registration process does not require KYC. If your address can be soft pulled to retrieve your UK credit record, the registration process will be instant.
After successful account opening, you will receive a cashplus application number, account number, and soft code. Logging into the cashplus app or website using the application number will prompt you to set up a login account, password, and security question.
If your address cannot be soft pulled to retrieve your credit record, you will be required to provide additional KYC and address proof. The address proof needs to be a document that has been notarized offline.
Deposits#
- UK transfer via Sort Code
- International wire transfer via SWIFT
Usage#
Establishing UK credit, subscribing to overseas services, and obtaining UK bank statements.
Requirements#
- Passport
- Mobile number
- UK address
- UK credit
Fees#
| Fee | Freedom | Activeplus |
|---|---|---|
| Monthly Fee | £0 | £5.95 |
| UK Transfer via Sort Code | First 9 transactions: £0, then £0.99 per transaction | First 20 transactions: £0, then £0.99 per transaction |
| International Wire Transfer via SWIFT (Inward) | £15 per transaction | £15 per transaction |
| International Wire Transfer via SWIFT (Outward) | Not supported | Not supported |
| UK ATM Withdrawal | £0 per transaction | £0 per transaction |
| Overseas ATM Withdrawal | £3 per transaction | £0 per transaction |
| Card Payment in GBP | £0 per transaction | £0 per transaction |
| Card Payment in non-GBP | 2.99% per transaction | 0% per transaction |
Images#
Ratings#
https://www.trustpilot.com/review/www.cashplus.com
Risks#
Unknown.