What is an unsecured loan? How does it differ from a secured loan?

A secured business loan is money borrowed or secured against an asset you already own. This could be something like a car, premises or anything or value that will be used to secure payment to the creditor in the event that you are unable to repay the loan. In contrast, an unsecured business loan doesn’t require you to provide anything as security. Instead, you borrow a lump sum and then pay this back with interest over an agreed timeframe.

If you set up a transfer, the payment should arrive in your payee's account within minutes. This will depend on where you're sending the money. Some banks can take two hours or more to process Faster Payments so it might take up to four hours to arrive with your payee.

If you've set up a transfer and it still hasn't arrived after four hours, message us and we'll do our best to help. In the app, go to Support to send us a message.

Good to know: Tide to Tide transfers are instant.