Welcome to Scotcash FAQ's. Here you will find answers to our frequently asked questions. If you have any questions not on the list please contact us, and we will help you with your enquiry.



      1. How do I apply for a loan?

You can apply for a loan online by clicking here, or you can give us a call to make an appointment in one of our branches.

When we have received your application, we will assess it by looking at your income and expenditure as well as existing debts you may have.  If you apply in branch we will be able to make a decision on your application at your appointment.  

If you are approved for an affordable loan, we may request that you send us over some additional information to support your application.


     2. What if I don’t have a bank account? 

To apply for a Scotcash loan you need a bank account. If you do not have one, you can contact us and we can help you to apply for one. Photographic ID is not always required when opening a basic bank account through Scotcash.


      3. Am I eligible for a Scotcash loan?

To apply for a Scotcash loan you must meet the following minimum criteria:

  • You must be 18 years of age or older.
  • You must have a bank account which can support Direct Debits. If you do not have a bank account we can help you open one with Virgin Money, Barclays or the Royal Bank of Scotland. See our basic bank accounts service for more information.
  • You must live within the UK.
  • You must have lived in the UK for at least the last three years.
  • If you have been bankrupt or signed a Trust Deed, you need to have been cleared for at least three years.


      4. I am unemployed, can I still apply for a loan?

Yes.  Scotcash loans are available to those working or on benefits.


      5. What happens when I apply for a loan?

If you apply in branch, one of our loan officers will complete the application form with you. This will include basic information such as personal details, income status, and expenditure details. If you apply online, you will complete the form yourself – this usually takes between 3 and 5 minutes. You will then need to submit your bank statements online through our secure portal.

Your application will then be assessed. If your application is approved, the loan funds will be paid into your bank account after we have received your signed paperwork.  


      6. I already have a Scotcash loan, when can I apply for another loan?

All of our loans are based on personal circumstances at the time of application, but usually if you are more than half way through the repayments of your existing loan you can apply for a top up loan. To find out the balance of your loan and to enquire about a top up, please call us.


      7. How much can I borrow?

The amount you can borrow is dependent on your affordability and ability to comfortably make repayments on time without compromising your other financial commitments. It is important to remember that you should not borrow more than you can afford, as this will lead to financial difficulties. Late payments may incur additional interest that may cause your repayment term to be longer.


      8. Can I make additional payments?

Yes. You can make additional payments outside your payment schedule. This will mean that the total cost of your loan will be less, as you are only paying interest for the days that you have the loan. To make any additional payments, call us. Make sure you have the card you are using to pay with you when you make the call. Scotcash understand that emergencies and unexpected costs can happen, and if you need to, a repayment holiday can be set up by contacting us.


      9. Will I get a discount if I repay my loan earlier?

If you repay your loan earlier than the initial agreed payment term, you will end up paying less, as there will be less interest for you to pay. This is because with a Scotcash loan, you are only paying for the interest for each day you have the loan.


      10. Where can I see my repayment schedule?

Your repayment schedule is included in your loans package – the information that you are provided with when your loan is approved.


      11. How can I find out my next payment date and loan balance?

You can contact us through email or telephone to see how much your balance is and when your next payment is due. Our contact details are available here.


      12. How long do I have to repay the loan?

We aim to make our loans as flexible as possible.  Our loans are repayable weekly, fortnightly 4-weekly or monthly and typically are repaid within 52 weeks, but can be offered over a longer or shorter term to suit your circumstances.


      13. What happens if I miss a repayment?

Defaults or missed payments do not incur a charge or fee by Scotcash but your Bank may make a charge. If you miss a repayment, you will be contacted by a member of our team to see if we can help. Understanding your situation helps us to make your repayment arrangements as easy as possible, and knowing when a customer may need to take a repayment holiday is included in this.


      14. How do I repay my loan?

Once we have agreed on the best day for your repayments to happen, these will be taken from your bank account by direct debit. If you are looking to make additional repayments, you can do so over the phone, using the debit card belonging to the account that your repayments come from. A 6% admin fee is applied to each loan to cover the cost of set up and administration.


      15. Is a Scotcash Loan the right choice for me?

Our loans for each individual application are assessed on the individual circumstances of the applicant. Short term personal loans should never be used to fill a gap in your financial outgoings, and should not be used to repay any debt you may have.

If you are confident that you will be able to manage regular repayments which will not affect your other financial commitments, a Scotcash loan might be right for you. Scotcash can also help you open a credit union savings account, make savings on fuel, ensure you are claiming all the benefits you are entitled to and get help to access grants you might be eligible for. We strive to help you make the most of your money.


      16. What happens if I have been rejected for a Scotcash Loan?

If it is decided that a Scotcash Loan is not the best option for your personal circumstances, you will be contacted by phone or email, to inform you of the decision and why it has been made. All Scotcash customers are able to make use of dedicated and confidential money advice service. We can also help you claim any grants or benefits you are entitled to, along with providing advice on budgeting and debt management.


      17. What happens if I experience financial difficulties?

If you are struggling to make your repayments, our team will work with you to find the best option for you, whether this is a repayment holiday or reduced payments. Please note that both of these options will result in a higher interest payment on your loan.  It is important to contact us as soon as possible if you think you might be unable to make your loan repayments.

Scotcash work closely with money advice services across Scotland to provide our customers with the right advice at the right time. 


      18. What are your opening hours?

You can check our opening hours here. For Bank Holidays, repayments will be taken on the first working day after the holiday. We will always publicise this information on our website, Facebook and Twitter.


      19. Can I send feedback on your service?

Yes.  We are always looking for ways to improve our services. Please submit any feedback you may have here. Scotcash also regularly send out customer surveys to gauge how our customers rate our services, and to see what we can make improvements.


      20. Can I make a complaint?

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request, contact us for more information or click here.


      21. Do you carry out a credit search?

Yes, we will carry out a credit search to understand your financial circumstances however we will always make a decision based on your current affordability.


      22. Why do you ask for my online banking details?

After you have completed your online application we ask that you provide your online banking details so that we are able to view up to 90 days of bank account history. This will help our loan officers to make a decision on your affordability, and the appropriate Scotcash products for you.

We can only access a read-only copy of your current account – nothing more. We do not have the ability to change any of your details, transitions, or standing orders, and we cannot see any private details such as your log in details or password. All data is securely handled in accordance with data protection laws and the Scotcash privacy policy.


      23. Who can see my internet banking log-in details?

No one can access or see your personal internet banking details. When you enter your details on our website they are securely transmitted under encryption. These details are held for a single use, so that we can generate the read-only data feed which we use to assess your affordability. We cannot see what your personal log in details are, and cannot see your password. We do not store any of this information at Scotcash.


      24. What happens to the bank statements you access?

Your read-only bank statements will be used to make a lending decision surrounding your application and will only be stored for as long as it takes to come to this decision. After the first transmission of data Scotcash cannot access your bank statements unless you provide access once more. For more information on this please click here.


Did You Know...?

Of 143 customers surveyed, approximately 486 people have benefited from the loans.