Flex Finance - Frequently Asked Questions

How long does it take to receive my funds from Portify?

We release the funds as soon as our system verifies and approves your Flex Finance application.

When you first withdraw it can take up to 72 hours for your bank account to be verified and funds to be released. However, it's usually much quicker on subsequent withdrawals.

Once we release the funds it can take up to two hours for you to receive them.

What bank account do I need to connect?

We need to be able to verify your earnings to make sure you can afford Flex Finance before we can approve you.

We don't require your income to come from a single source. However, we suggest that you connect your main bank account (the account you get paid into) so we can check you can afford Flex Finance.

To help us do this, we recommend you:

• Apply with the bank account that you use most frequently
• Make sure your account has at least a few months worth of transaction data.

If you've just opened a bank account it is unlikely that you will be able to access Flex Finance. You'll need to use this account for a few months before we are likely to accept your Flex Finance application. 

Does Flex Finance affect my credit score?

Yes, Flex Finance will impact your credit score. 

Portify performs a hard credit check to assess your eligibility for Flex Finance. 

A missed repayment or subscription fee will be reported to Experian and will negatively impact your credit score. 

Flex Finance could also help you improve your credit score. Your Flex Finance repayments and subscription fees will be reported to Experian. Each successful repayment and membership fee payment build positive payment history which can help improve your credit score. 

For more information on Credit Boost see our article on Credit Score Building.

If we ever require you to take an action that could affect your credit score, we will always let you know before proceeding.

How do I increase my Flex Finance limit?

We assess your affordability on an ongoing basis and will update the amount of Flex Finance you are eligible for in the Flex Finance tab of your Portify app.

Increases are not guaranteed and depend on our ongoing assessment of your affordability

As well as looking at your income and outgoings, we consider your payment activity to decide what amount of Flex Finance we can offer you.

Repaying your withdrawals on time and ensuring you're up to date with your Portify Plus membership fee payments will help towards you becoming eligible for higher amounts over time.

You will only be able to make a withdrawal if 14 days have passed since funds were last released to you.

What's the maximum amount of Flex Finance I can access?

The maximum amount you are able to access is shown in your Portify app. This amount depends on our ongoing assessment of your affordability and may increase over time.

Please don't contact our Customer Support team to increase your limit. There is no way for us to manually change your Flex Finance limit.

My card is not accepting charges, what do I do?

This is usually because your bank is not allowing us to charge your card. To change this just contact your bank and ask them to permit charges to 'PORTIFY'. We need to be able to charge your card to release Flex Finance funds to you. 

Some cards do not allow recurring payments. If your card doesn't, you will need to use a different account and card to apply.

What's the minimum balance I need?

We cannot approve your application if you're in your overdraft or have upcoming transactions that would put you into your overdraft.

We've seen that people who have balances under £0 often have trouble affording and repaying Flex Finance.

Why can’t Portify verify my debit card?

To approve you for Flex Finance we have to make sure that the debit card is linked to the bank account that you've connected to Portify. 

If the card you are paying the membership fee from is not linked to the bank account you would like Flex Finance funds released to, we will be unable to verify your card. 

We verify that your debit card is connected to your bank account by confirming your membership fee payment. We are only able to verify your debit card after we confirm the fee appears in your linked bank account.

This process can take several days while your bank clears this transaction. 

If we do not see the transaction appear within three days we are unable to confirm that the debit card belongs to you and that it is linked to your connected bank account.