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What are the costs associated with invoice finance?

Invoice finance agreements will be priced based on your business and requirements, however invoice discounting and invoice factoring have different fee structures.paid plans you can open up to 3 additional current accounts under your main account to organise your finances for different purposes. For example – marketing, supplies, or salaries. 

Invoice discounting is structured like a loan, with interest payable plus an administration fee.here

Invoice factoring charges are known as a ‘factor rate’, which is based on level of risk, volume of invoices, and the time credit is extended for, amongst other factors.

For Registered Businesses: 

  • If you’re on a paid plan, you can open up to 1, 2, or 3 additional accounts - depending on your membership. Members on our Free plan can’t open new additional accounts.

  • If you’ve opened additional accounts before these changes, we’ll charge you £4.99 per month, for each existing account above the limit of your current plan. This also applies if you downgrade to a plan with lower allowance. If you want to open new additional accounts, you can do so only at a paid plan according to its limit

For Sole Traders:

  • We’ve recently made additional accounts available for Sole Traders on a paid plan, too. Whether it’s 1, 2 or 3 accounts will be determined by the membership plan. 

Whether you are on a free or on a paid plan, it's always free to open a:

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