In this article, we’ll be talking about which types of income we can accept, providing you meet our eligibility criteria.

To qualify for a Fronted Deposit you must:

  • Live in the UK for a minimum of six months

  • Have a primary UK bank account that connects to Open Banking

  • Have a minimum annual income of £12,000

  • Have verifiable details including email address and a UK mobile phone number

  • Be 18 years of age or over

We take our work seriously, and we will never give a Fronted Deposit to someone we think cannot afford it. Information that is given to us which helps us make an affordability assessment will be verified.

Attaching your bank account via Open Banking

When you attach your bank account via Open Banking, we expect to roughly see 6 months worth of transaction history. Open Banking is a safe way for you to share transaction data to make sure you meet our lending criteria when you apply.

We use Open Banking to verify your income and expenditure. If you don’t have 6 months of transaction history, we may need to get in contact with you and ask you some additional questions about your application. This may include asking for you to link an older bank account if you have one.

If you have a second bank account that you receive an income into or use for some of your expenses, please make sure to also attach this account to your application 🏦

Types of income we can accept


If you work for an employer, you usually receive salary into your bank account either weekly, bi-weekly or once every month.

When you apply for a Fronted Deposit, please make sure to link the account you get paid into to your application, so we can verify your income.

We absolutely understand people change jobs from time to time. This means you may be in a situation where you’ve recently started a new job when applying for a Fronted Deposit. In this case, we may need to reach out to you for a bit more information.

Universal credit

Universal credit is usually paid once a month and is meant to help you with your living costs. We can accept this type of income, as long as the minimum annual income is still £12,000 on these payments to meet our eligibility criteria.

If you get paid universal credit, make sure to attach the bank account your universal credit gets paid into to your application.

Universal credit is a replacement for these legacy benefits:

  • Income Support

  • Income-based Jobseeker’s Allowance (JSA)

  • Income-related Employment and Support Allowance (ESA)

  • Housing Benefit

  • Child Tax Credit

  • Working Tax Credit.

Applying when you’re a student

If you’re currently a student and you’re looking to make an application with us, we would assess your details after you apply.

We understand that some students will be focussing on their studies only, and others may have part-time/full-time jobs or are currently doing a paid internship at a company. If this is the case, we may require some additional information from you, which we’d reach out to you about whilst processing your application.

If you get paid student finance by the Student Loans Company, please make sure to attach the bank account that these funds get paid into to your application. If you’re currently receiving salary from an employer, we need to verify this as well.

We hope this article gives you all the information you need. If you do have any further questions, you can chat to us via the ‘Contact Us’ option in the menu bar or contact us at [email protected].

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