What is an Instalment Plan?

It’s an option we might offer on your account to let you pay off eligible purchases between £50 and £3,000 in fixed monthly instalments. You can also set up an Instalment Plan to pay down a balance if your 0% on balance transfers (between £50 to £5,000) offer has come to an end and you have a balance remaining. Please note, only the main card holder can set up a plan.

You will not pay interest towards your Instalment Plan but you will pay a set monthly fee for each Instalment Plan you take out (up to 8 plans at any time.) This fee will always cost you less than the standard rate of interest on your credit card.

You can set up your Instalment Plan over a term which best suits your needs. This can be between 3, 6, 12 and 24 months.

How do I know if I’m eligible for an Instalment Plan?

There are a number of factors that contribute to being eligible for an Instalment Plan. These include having a; transaction between £50-£3,000 either on your latest statement or applied to your account since your last statement was produced, a balance outstanding after your 0% Balance Transfer offer has expired, a credit card with an APR above 6.9% and your account is within your credit limit. Additionally, you must not have an outstanding cash balance on your credit card to be eligible for an Instalment Plan.

If instalment plans are available to you, we’ll let you know via our mobile banking app by adding an 'eligible Instalment Plan flag' to your transaction or as a notification when your 0% Balance Transfer has expired. We'll tell you more about any available plan, including fees, via the app before you take it out.

Please note availability is also subject to eligibility criteria and you will be able to search for eligible transactions in the mobile app.

What should I consider when I choose what term I should take my Instalment Plan over?

You should choose the term that is affordable for you. The Instalment Plan monthly payment will be in addition to you making at least the the minimum monthly payment you normally make towards your main credit card balance. You should consider both your minimum monthly payment amount and your monthly Instalment amount when deciding the most suitable term for your circumstances.

Can I set up an Instalment Plan by telephone, branch or via Digital Banking?

You can only set up and manage an Instalment Plan using your Mobile App.

I’ve got a 0% Balance Transfer offer expiring soon, can I move my balance onto an Instalment Plan?

To move a balance onto an Instalment Plan, the Balance Transfer (held with NatWest Bank, Royal Bank of Scotland or Ulster Bank) offer period must have expired. If you are eligible to set up an Instalment Plan we will let you know via the mobile app.

Can I still take out cash?

You can't set up any new plans until you have repaid all cash balances on your credit card because it is likely to be more expensive and cost you more overall. Therefore we also suggest you don't withdraw cash on your card while you have Instalment Plans in place.

How can I group multiple purchase on a single I-Plan?

To group multiple purchases (up to a maximum of 5) on a single I-Plan:

Please log into the Mobile App and select credit card
Select the Instalment Plan Hub and select up to 5 eligible purchase
Click on review plan
Look at the different plan options which show the term and associated monthly fee
Choose the plan that suits your financial needs
Read the ""Important Part"" section and confirm you still want to proceed
Name your Instalment Plan and hit Confirm Plan
Your Instalment Plan will be set up on the next working day

Alternatively, you can also add multiple (up to 5 in total) purchases to a plan when setting-up a new I-Plan through the "View Transactions" section of your credit card menu.

Why does the app not let me group certain purchases/transactions on to one I-Plan?

This could be because of number of reasons listed below:

Transactions that you are trying to group are not in the same statement period
You have a cash balance on your credit card
Transaction is less than £50
Transaction is more than £3000
Transactions combined exceed the maximum plan limit of £3000
Purchases/Transactions combined exceed the maximum number of purchases/transactions you can have in One I-Plan (5)
How you manage your finances and maintain your account

How many Grouped Purchases I-Plan can I have at one time?

You can have up to 8 Instalment Plans at any given time regardless of how many purchases/transactions there are in one plan. You can only set up one Instalment Plan on each working day.

Can I cancel part of my Group Purchase I-Plan?

Unfortunately not, if the plan no longer suits your needs then you can cancel the plan at any point with no fees or charges.

Please note that once you cancel an I-Plan, the remaining balance will revert to your standard purchase rate and you will be unable to convert the same purchase (s) to an I-Plan in the future.

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What is an Instalment Plan?