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What Is Preloading and How Does It Work?

What is preloading?

Preloading allows you to add your own funds to your Capital on Tap account, increasing your Your total available spend beyond your credit limit by combining the preloaded funds with available credit.

For example, if you have £5,000 available credit and preload £2,000, you will have £7,000 available to spend.

Pro Customers will also receive an additional 0.25% cashback on preloaded funds. (1.25% in total)

There is no limit on how much you can preload.

How do I set up preloading?

Before you can preload funds, you must sign an e-money agreement.

On the web portal:

  1. Log in to your account.
  2. Go to Your account.
  3. Click Rates and contracts
  4. Follow the steps to sign the e-money agreement.

On the app:

  1. Log in to the app.
  2. Go to Settings in the top right-hand corner.
  3. Tap the black box labelled "want to go beyond your credit limit"
  4. Follow the steps to sign the e-money agreement.

Once the agreement has been signed, you can start preloading immediately.

How do I add preloaded funds to my account?

You can preload funds via 2 methods: bank transfer or using your Capital on Tap Savings account.

To preload funds using bank transfer, it must come from the business bank account registered with Capital on Tap.

To find your unique transfer details:

  1. Log in to the web portal.
  2. Click the Payments tab.
  3. Click One-off payment details.
  4. Click Transfer to Capital on Tap.
  5. Copy the bank transfer details and use them to send funds from your linked business bank account.

Important: Delete any previously saved Capital on Tap bank details before transferring. Using outdated details may result in your payment not being processed correctly.

Using a Capital on Tap Savings Account: If you have a Capital on Tap Savings Account, you can preload funds directly from it . There are 2 ways to do this in the web portal:

  1. Click Transfer on your Savings dashboard
  2. Go to the Payments page and select From Capital on Tap Savings Account.

Why are my preloaded funds not showing on my Capital on Tap account?

Allow up to 2 business hours for a bank transfer to appear on your account.

If the funds are still not showing after 2 business hours, contact Capital on Tap support via the app or web portal. You may be asked to provide:

  • The date, time, and amount of the payment
  • The bank account details you sent the funds to

You may also be asked to check with your bank and confirm:

  • How the payment was sent
  • Whether the funds have left your bank account
  • Whether the payment is pending review or approval
  • Whether there is a transfer limit on your account

How does cashback work on preloaded spending?

For Pro rewards customers:

  • 1% cashback on credit spend
  • 1.25% cashback on preloaded fund spend

For Pro customers, the additional 0.25% preloading bonus is credited weekly and appears as Preloading Bonus in your rewards history.

For Standard rewards customers:

  • 1% cashback on all eligible spend, including preloaded funds

Cashback is applied automatically once the transaction has cleared.

Do I need to repay my balance before preloading?

No, any preload transfer is first used to repay outstanding balances on your account. Any remaining funds are then held as a preloaded balance.

How are my preloaded funds protected?

Preloaded funds are treated as e-money and are regulated under the Electronic Money Regulations, overseen by the Financial Conduct Authority (FCA).

Capital on Tap is not a bank. Preloaded funds are not covered by the Financial Services Compensation Scheme (FSCS). Instead, your funds are held in a separate bank account. This ensures your preloaded funds can be returned to you if Capital on Tap were to become insolvent or cease trading.

How do I transfer preloaded funds back to my bank account?

You can transfer preloaded funds back to your linked business bank account at any time.

If drawdowns are available on your account, you can use the drawdown feature to transfer funds. No interest will be charged when the transfer amount is covered by your preloaded balance.

If drawdowns are not available, contact Capital on Tap support through the app or web portal to request a refund.

Funds will be returned to the bank account on file.

Can I opt out of preloading?

Yes, you can request to opt out of preloading at any time by contacting Capital on Tap support via phone, email, or chat.

Any remaining preloaded balance will be returned to your linked business bank account before preloading is removed from your account.