Please note: retail investor lending is no longer available for new customers. For more information, read here.

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Adding & withdrawing money

  1. How do I add money?
  2. Can I add money by cheque?
  3. How do I set up a regular payment to Lending Works?
  4. How long does it take to add money?
  5. Why is my recent payment not showing in my account?
  6. What are the minimum and maximum amounts I can add?
  7. Why was my card payment declined?
  8. What happens after I add money?
  9. How do I withdraw money?
  10. How long does it take to withdraw money?
  11. How do I change my nominated bank account?

  1. How do I add money?

    The easiest way to add money to your account is using your debit card.

    To add money by debit card, simply log in to your Lending Works account and click 'Add money' from your Classic or ISA dashboard. Then select the 'Debit card' option.

    Please note: There is a £100 minimum for debit card payments. Card payments will be credited to your account within two business days - we'll let you know once your payment has been credited.

    You can also add money by bank transfer.

    To add money by bank transfer, simply log in to your Lending Works account and click 'Add money' from your Classic or ISA dashboard. Then select the 'Bank transfer' option.

    Please note: There is a £100 minimum for bank transfers. If we receive your payment before 6pm, we'll credit your account within one business day - we'll let you know once your payment has been credited.

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  2. Can I add money by cheque?

    We do not recommend sending cheques to add money to your Lending Works account. If we do receive a cheque, your account may not be credited for up to 7 business days due to the cheque clearing cycle and cancellation rules.

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  3. How do I set up a regular payment to Lending Works?

    You can set up a regular payment to top up your Lending Works account by setting up a Standing Order with your bank. The relevant bank and payment details can be found by logging in to your Lending Works account and clicking 'Add money' from your Classic or ISA dashboard. Then select the 'Bank transfer' option.

    Please ensure you use your unique payment reference so we can identify and allocate your payments.

    We do not currently offer a Direct Debit facility for investors. 

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  4. How long does it take to add money?

    Debit card payments should be credited to your account within two business days. We'll let you know once your payment has been credited.

    Bank transfers and standing orders should be credited to your account within one business day, provided we receive your payment before 6pm. Please ensure you use your unique payment reference so we can identify and allocate your payment.

    If you've made a recent payment and it still hasn't been credited to your Lending Works account, please get in touch with our Customer Experience team on 020 7096 8512 or cs@lendingworks.co.uk.

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  5. Why is my recent payment not showing in my account?

    Please first check our standard timeframes for adding money to your account.

    If you made a payment by debit card and it still hasn't been credited after two business days, this is likely due to a delay with our payments provider, Stripe. We will be aware of this and will resolve as soon as possible.

    If you made a payment by bank transfer or standing order, please re-check that the payment reference you used matches your unique payment reference provided within your Lending Works account. Erroneous payment references are by far the most common cause of delays. In most cases, we can resolve these manually but if you are in any doubt, please get in touch.

    If you need further assistance, please get in touch with our Customer Experience team on 020 7096 8512 or cs@lendingworks.co.uk.

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  6. What are the minimum and maximum amounts I can add?

    The minimum amount you can pay in by debit card is £100, with a maximum of £99,999. We recommend using bank transfers for larger payments (e.g. over £5,000).

    The minimum amount you can pay in by bank transfer or standing order is £100. If you transfer a payment of less than £100 to Lending Works, it may take us longer to apply this payment to your account. There is no maximum bank transfer amount. 

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  7. Why was my card payment declined?

    A card payment may be declined if the card name doesn't match the name of the Lending Works account holder, if there are insufficient funds in your bank account, if the amount is unusually high or if any of the card details were input incorrectly.

    If you are having difficulties making a card payment, please contact our Customer Experience team on 020 7096 8512 or cs@lendingworks.co.uk.

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  8. What happens after I add money?

    Once we receive your payment, we'll credit your Lending Works account and send you an email confirmation.

    We'll handle your payment according to your lending settings - by either crediting your holding account (for you to manage manually) or automatically placing the funds on offer to be matched with loans.

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  9. How do I withdraw money?

    To withdraw money from your Lending Works account, simply log in to your Lending Works account and click 'Withdraw money' from your Classic or ISA dashboard. Then enter the amount you'd like to withdraw and confirm.

    Please note: You can only withdraw money from your holding account (Wallet). To access money on offer, you'll need to first cancel any pending lending offers. To access money on loan, you'll need to first use Quick Withdraw to sell loans to other investors.

    You can also set up automatic withdrawals of your loan repayments (interest-only or capital and interest), either weekly or monthly, by updating your lending settings from your Classic or ISA dashboard.

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  10. How long does it take to withdraw money?

    You will normally receive the funds into your bank account within five business days.

    Please note: Once we've received your withdrawal request, we complete a number of automated security checks before processing your payment. If for any reason we're unable to process your withdrawal automatically, we'll be in touch. Your withdrawal may be delayed while we verify your request.

     

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  11. How do I change my nominated bank account?

    When you request your first withdrawal (or set up your lending settings to automatically withdraw repayments), you'll need to confirm your nominated bank account. This will need to be a UK bank account in the name of the Lending Works account holder.

    You can change your nominated bank account at any time by contacting our Customer Experience team on 020 7096 8512 or cs@lendingworks.co.uk. We will need to complete a number of automated and manual security checks before approving any change.

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The Lending Works Shield does not give you a right to a payment so you may not receive a pay-out even if you suffer loss. The Lending Works Trustee has absolute discretion as to the amount that may be paid, including making no payment at all. Therefore, investors should not rely on possible pay-outs from the Lending Works Shield when considering whether or how much to invest. For more information click here.