Cashplus Bank

Cashplus Bank is an app-based UK bank with no branches. It offers personal current accounts, credit builder products and business current accounts, all managed through its mobile app and online banking. Because there is no branch network, everything from opening an account to raising a complaint is handled by phone, in-app chat or online.

Cashplus is an app-based current account provider, so day-to-day banking is done through its mobile app and online, with customer support by phone. It offers personal and business current accounts, and its accounts are protected by the Financial Services Compensation Scheme, so eligible deposits are protected up to the standard limit per person per firm. If you hold money with other brands that share the same banking licence, your balances count together towards that one limit.

This page covers what Cashplus offers across each product type, how its charges work, who can open an account, how to switch, what to do if you are scammed, how to complain, and how your money is protected. It does not list rates or fees, because those change and are set out on Cashplus's own website.

What Cashplus Bank offers

Cashplus Bank is a UK bank that operates entirely through its app and online banking, with no branch network. That means all banking is done through the app and you cannot go into a branch to speak to someone⁶. For customers who are comfortable managing money on a smartphone, this keeps things simple; for anyone who prefers face-to-face service, it is a real limitation.

The bank's main product lines are personal current accounts, credit builder accounts aimed at people who may have a thin or imperfect credit file, and business current accounts. It also offers savings products and, in some cases, lending. Each product type has its own page on the Cashplus website setting out the current features, rates and charges.

A current account is designed for managing money day-to-day, including paying bills, receiving money such as salary or benefits, and keeping track of spending⁷. A standard current account usually lets you receive your benefits and wages, spend in shops, withdraw cash at a cash machine, manage your account online or by mobile app, and set up Direct Debits and standing orders⁸.

If you are comparing Cashplus with other providers, the current accounts guide explains how different account types work, and the banks directory lists the main UK banks and building societies.

Business current accounts from Cashplus

Cashplus offers business current accounts alongside its personal accounts. These are designed for sole traders, freelancers and small companies that want an account they can run entirely through an app.

Opening a business account usually involves providing more information than a personal account, because the bank needs to understand the business and who runs it. To make this easier, 18 business current account providers have agreed to ask customers who want to open a new business current account for the same basic set of information⁹. That means the questions you are asked should be broadly similar whichever provider you approach.

Business current accounts are a distinct product from personal accounts, and the Financial Ombudsman Service publishes separate complaint figures for them. In the first quarter of 2026/27, 993 complaints were opened about business current accounts¹⁰. In the same quarter of 2025/26, the figure was 795¹¹. These figures cover the whole market, not Cashplus alone, but they give a sense of how often business account problems reach the ombudsman.

If you run a business and want to understand how business accounts compare with personal ones, the current accounts guide covers the basics, and the banks directory lists providers.

Personal accounts and credit builder features

Cashplus's personal accounts are built around everyday banking: receiving income, making payments, setting up Direct Debits and managing money through the app. The bank also offers a credit builder account, which is aimed at people who want to improve their credit history while managing their day-to-day money.

A basic bank account typically gives you access to internet banking, a contactless debit card, and the option to set up Direct Debits¹². Some basic accounts charge for accessing cash machines of other banks, so it is worth checking the terms before you open one¹³.

Some accounts come with extra benefits. A packaged bank account comes with extra benefits, like insurance and roadside assistance, but also charges fees¹⁴. If you are offered a packaged account, it is worth checking whether the benefits are ones you would actually use, because you are paying for them whether you use them or not.

If you are working on your credit history, the credit scores guide explains how credit reports work and what affects them. The current accounts guide covers the different types of account available.

How Cashplus charges work

Cashplus, like other banks, charges for some services and not others. The exact fees depend on the account you hold and are set out in the bank's own terms and on its website. This page does not list them because they change, and the version that applies to you is the one in your account terms.

Some charges are common across the banking market and worth understanding. Prepaid card accounts, for example, can charge you for adding money to the card and for taking money out at cash machines¹⁵. If you use a credit card to withdraw cash, interest is usually charged immediately, even if you repay your balance in full¹⁶. Overdrafts also carry charges, and the overdrafts guide explains how they work.

The key point is to read the fee schedule for the specific account you are considering, and to check it again if your circumstances change. If a charge appears on your statement that you do not recognise, you can ask Cashplus to explain it, and if you are not satisfied with the answer you can take the complaint to the Financial Ombudsman Service.

Who can open a Cashplus account

To open a Cashplus account you need to be a UK resident and meet the bank's eligibility criteria, which are set out during the application. As with any bank account, you will need to prove your identity and address.

Most banks run a credit check when you open a current account, looking at your credit history including whether you have had problems paying money back¹⁷. Cashplus's credit builder account is designed for people who may not have a perfect credit record, but the checks the bank carries out on any individual application are set out in its own terms.

If you want to open a joint account, you can open a basic bank account with someone you trust if you both qualify¹⁸. Joint accounts can be useful for shared household bills, but they also mean both account holders can see and access the money, so they work best when both people are clear about how the account will be used.

If you have been declared bankrupt or have a poor credit history, a basic bank account may be more suitable than a standard current account. All high street banks offer bankruptcy-friendly basic bank accounts¹⁹, and the current accounts guide explains how they differ.

Banking with Cashplus: app, online and phone, with no branches

Cashplus has no branches. All banking is done through the app and you cannot go into a branch to speak to someone⁶. That makes the app the centre of the experience: you use it to check your balance, send payments, manage Direct Debits and contact customer service.

Most banks have their own smartphone and tablet apps, so once you have set up online banking you can download the app from the Google Play Store for Android devices or the App Store for Apple devices¹. If you prefer not to use an app, telephone banking lets you pay bills or transfer funds by landline or mobile phone without visiting a branch or cash machine, though call charges may apply⁹.

For anyone who needs help managing money online, there is support available. Some organisations offer guidance on online banking for older people¹, and disability charities provide advice on managing your own money²⁰. If you need someone else to manage your account, most banks give telephone and online access plus branch instructions, but only a small number give access to the mobile app²¹.

Opening a Cashplus account or switching to it

Opening a Cashplus account is done through the app or the bank's website. You complete an application form online, in person or by phone²⁰, though for an app-based bank the online route is the usual one. You will need identification and proof of address.

If you already have an existing bank account, you can ask your new provider to transfer your balance and all your incoming and outgoing payments over⁸. This is done through the Current Account Switch Service, a free service that can automatically switch your current account to another bank or building society⁷. The service is free to use, and you can choose and agree your switch date with the new bank³.

The Current Account Switch Service means money and payments can be automatically moved from your old account to your new one, including redirecting any incoming payments, with a refund of any interest or charges if things go wrong¹⁷. It works for joint accounts, provided you are switching to another joint account and all account holders agree²². You can switch using the service even if you are overdrawn¹⁸.

To switch manually, the process is to open a new account before closing your old one, cancel or move any current standing orders or Direct Debits, return unused cheques and cards cut into pieces, and leave enough money to cover uncleared cheques⁷. Alternatively, you can ask your new provider to transfer your balance and all your incoming and outgoing payments over for you⁷.

Scams and APP fraud: what Cashplus customers should watch for

Authorised push payment (APP) fraud is when you are tricked into sending money to a scammer. It is the second biggest type of payment fraud reported by UK Finance²³. The reimbursement rules cover payments made using Faster Payments and CHAPS, and apply to most UK banks, building societies and e-money firms that offer Faster Payments²⁴. All types of APP fraud are covered, such as impersonation or romance scams²⁴.

Under the reimbursement rules, if the rules apply and you were particularly vulnerable to the specific type of APP scam, your bank or payment service provider must reimburse you²⁵. All types of APP fraud are covered, such as impersonation or romance scams²⁴. The rules apply to payments made using Faster Payments and CHAPS²⁶.

There are exclusions. The rules do not cover payments made using cash, a cheque, or a credit, debit, or prepaid card; payment systems not covered; civil disputes; fraudulent claimants; payments to another account you control; unlawful payments; and payments to and from credit union, municipal bank or national savings bank accounts²⁶. International payments, card payments, cryptocurrency transfers, first-party fraud, gross negligence, payments before 7 October 2024, and claims more than 13 months after the last payment are also excluded²⁷.

If you have been scammed, contact your bank or payment services provider immediately, contact the police on 101, report the scam to Report Fraud, and keep records of all contact and correspondence between you and the scammer⁵. You may also want to contact Action Fraud, particularly if you think you have already been a victim²⁸. The Financial Services Compensation Scheme advises speaking to your bank, building society or credit union, which can protect and reimburse victims of certain types of fraud, and reporting to Action Fraud².

To reduce the risk of fraud, set up bank alerts in your app so you know when your card has been used²⁹. Be careful about fake banking apps: there are a lot of fake banking apps available to download, so check that you are downloading the bank or building society's genuine app via their website¹. The scams and fraud guide explains the different types of scam and how to report them.

Service, complaints and the Financial Ombudsman

If something goes wrong with your Cashplus account, the first step is to complain to Cashplus directly. Banks have a set process for handling complaints, and the firm gets the chance to put things right before the complaint goes further. The Financial Ombudsman Service is free and easy to use, and can look into issues such as account closures, disputed transactions, IT failures, and problems with switching services²⁵. It can also look into complaints about the bank or payment service provider that received the money, considering steps taken to recover it and whether it should have had concerns about its customer's account²⁵.

If you are not satisfied with the response, you can take your complaint to the Financial Ombudsman Service. The ombudsman helps resolve complaints about issues such as account closures, disputed transactions, IT failures, and problems with switching services⁴. It can also look into complaints about the bank or payment service provider that received your money, considering steps taken to recover it and whether it should have had concerns about its customer's account²⁵.

The Financial Ombudsman Service is free and easy to use³⁰. You can fill in the complaint form online³¹. The service has been improving its digital tools, with online portals for businesses and consumers rolled out and an enhanced online complaint form streamlining and simplifying the complaint journey³⁰.

The ombudsman can help with complaints about bank accounts and bank cards, insurance for your home, car or when you travel to another country, and problems with loans²¹. In 2025/26, the Financial Ombudsman Service opened 214,649 complaints across all products³¹. In the first quarter of 2026/27, 8,945 complaints were opened about current accounts¹⁰. These figures cover the whole market, not Cashplus alone.

If you are unhappy with the service you have received from a claims company, for example the results of your claim or the fees they have charged you, you can also complain to the Financial Ombudsman Service¹⁴.

How money held with Cashplus is protected

Cashplus Bank is covered by the Financial Services Compensation Scheme (FSCS). If the bank fails, eligible deposits are protected up to the standard limit per person per firm. This is the same protection that applies to other UK banks and building societies.

The limit applies per person, per firm. If you hold money with other brands that share the same banking licence as Cashplus, your balances count together towards that one limit. Checking which brands share a licence matters if you hold large balances, because the protection is not multiplied by the number of accounts you hold.

The FSCS also directs scam victims to their bank, building society or credit union, which can protect and reimburse victims of certain types of fraud, and to Action Fraud². If you are unsure whether your money is protected, the FSCS website has a checker that tells you whether a firm is covered.

For more on how protection works across different types of account, the consumer protection guide explains the rules, and the savings guide covers how savings accounts are protected.