Making Repayments

We'll walk you through the repayment options available and how to make a one-off repayment.

Overview

Capital on Tap provides a number of ways to repay your Capital on Tap Business Credit Card, so you can choose the option that best suits your business. This article will help you understand the repayment options available and guide you through making one-off repayments.

Repayment options

You can manage your repayment options from the 'Payments' page in your online portal.

To set your automatic monthly Direct Debit, go to 'Payments', then select 'Manage Direct Debit', and choose one of the following:

• Full Balance: This option automatically repays your full closing balance at the end of your billing period. Choosing this option means you won't be charged interest on your card purchases.

• Minimum Monthly Payment (MMP): This option automatically repays 10% of your closing balance or £100, whichever is greater. If your closing balance is less than £100, we'll take the full balance instead. If your balance is less than £5, we won't take a repayment.

• Fixed: This option lets you set a fixed repayment amount to be paid each month. If your minimum repayment is greater than your fixed amount, we'll take the minimum repayment instead.

You can also choose to repay your full balance weekly instead of monthly. Select 'Weekly Repayments' from the 'Payments' page to opt in — a Direct Debit will then be scheduled every Monday, for collection on Thursday.

Making a one-off repayment

You can make a one-off repayment at any time to reduce your outstanding balance.

1. Navigate to the 'Payments' page in your online portal.

2. Click 'Make a payment'.

3. Select your repayment method: instant bank transfer, manual bank transfer, or debit card.

4. Follow the steps on screen to complete your repayment. If paying by debit card, you cannot repay more than your current balance unless you have a preloading agreement.

Your repayment will show on your account within 20 minutes.

Cancelling a repayment

Whether we can cancel a repayment for you depends on the timing:

• More than 2 business days before your repayment date: Contact us and we can cancel the repayment for you.

• Within 2 business days of your repayment date: We can't cancel it, but you can contact your bank directly to ask them to stop that single repayment.

Important: Whichever route you use, do not cancel the entire Direct Debit mandate — this will suspend your account.

If you're cancelling your repayment due to financial difficulty, please call our Customer Service team on 020 8962 7401 so we can help.

Why is my repayment not reflecting on my account?

Debit card repayments should show within 20 minutes, and bank transfers within 2 business hours. If your repayment isn't showing after this time, there may be a checkout issue. Please contact us for assistance.

Why is there a limit to the number of repayments I can make?

There's a daily limit on how much you can repay via debit card — currently £5,000 per transaction, capped at 2 transactions per day — which is in place to protect your account. This limit resets each day, and there are other repayment methods available if you need to repay more, such as bank transfer.

How do I change my repayment day?

Most customers have 5 business day repayment terms. If yours is set to 15 days after your billing period ends instead, you can request to change it to 5 days after your billing period ends.

To be eligible for this change, you must have paid your Minimum Monthly Payment for the last billing period. You must also have no Direct Debits scheduled in the next 7 days. You are not able to increase your payment days after reducing them.

If your payment date is already set to 5 days after the end of your billing period, we won't be able to amend it. You can check how many repayment days you have by comparing your 'Next Payment' date to your billing period end date. You can see your billing period start and end dates on your dashboard.

If you're looking to amend your payment date due to financial difficulty, please call our Customer Service team on 020 8962 7401.

What happens if my monthly full balance repayment fails?

If your repayment option is set to full balance and the first repayment fails, we'll reattempt to take the repayment, but the attempts moving forward will only be for the MMP.

How do I know if I am up to date on my monthly repayment?

To check whether you're up to date with your repayments, you can look at your status through your online portal or app.

Here's how:

• Your online portal or app displays your current balance and outstanding balance.

• Your monthly statements, also available in the portal, show any interest charged. This can indicate if a previous payment wasn't made in full, which would have affected your interest-free period.

When must a manual repayment reach you to be on time?

We must receive your manual repayment before midnight on the due date for it to count as on time.

How much can I repay via debit card daily?

You can repay up to £5,000 per transaction using a debit card. For larger repayments, you can repay via bank transfer.

Will I be charged interest if I only repay the minimum or a partial amount?

Yes. If you repay anything less than your full balance — including just the minimum repayment — we'll charge interest on the entire outstanding amount, not just the portion you didn't repay. The only way to avoid interest on your card transactions is to clear your full balance by the due date each month.

Does Capital on Tap charge late fees?

Late fees are set out in your credit agreement — currently £0, though this can change. If a scheduled repayment can't be collected and we're unable to reach you, your account may incur a late payment fee as outlined there. If you think you might miss a payment, please call us on 020 8962 7401 to discuss your options.