How is the discount rate calculated?
The discount rate is the cost of using funds from your Flexible Trade Account. It works in a similar way to an interest rate and is only charged on the amount you have actually drawn.
The rate is linked to the Bank of England base rate, with an agreed margin applied. This margin is set out in your offer and facility agreement. The discount rate accrues daily based on your outstanding balance and is charged monthly in arrears, so you only pay for the funds you’ve used and the time you’ve used them.
When are fees charged?
Both the discount rate and the service fee are charged monthly in arrears.
Charges are applied on the first day of each month for the previous month and are debited directly from your Flexible Trade Account. This will be reflected in your account balance on that date.
Where can I see a breakdown of fees and discount rate?
You can see a breakdown of fees and discount rate in the transaction summary within the portal and in your monthly statement.
This gives you clear visibility of how charges have been applied for the period.
How do I access my statements?
Your monthly statements are available in the portal and can be viewed or downloaded at any time.
Statements are also sent to you by email each month for your records.
Can I download my transaction history?
Yes. You can view and download your transaction history from the Account section of the portal, accessed via the left-hand panel menu.