Lending between people,
made simple.

Either party starts a loan request. The other side accepts in one tap. The lender transfers the funds directly from their bank to the borrower's account. Direct Debit collects the repayments automatically. We handle the agreement, the schedule, and the receipts.

Yes — always. The lender receives back exactly what they lent. The borrower pays a flat 3% + 50p service fee, spread across installments. No hidden charges, no APR, no compounding, no late fees.

Paybackly itself is not authorised by the Financial Conduct Authority — we are a technology platform, not a lender or bank. The payment partners we use (Stripe Payments UK Limited for Direct Debit and identity verification, and our open banking provider for transfers) are FCA-authorised in their own right.

No — we do not run credit-bureau checks and we do not report to credit bureaus. Borrowing on Paybackly does not affect your credit score. Identity is verified through Stripe Identity using a government photo ID and a live selfie. Trust is built through your repayment history on the platform via the tier system.

Right now, lenders complete a short manual bank transfer to send funds to the borrower. We're rolling out fully-automatic open banking transfers — money moves bank-to-bank in seconds with no manual step — and we're waiting on the final regulatory approval before switching everyone over. If you'd rather wait until it's automatic, the waitlist locks in founder perks.

Yes. Once both parties accept, the agreement is a binding contract under English law. Both sides receive a signed PDF with both verified identities, the amount, and the full repayment schedule. Admissible in UK Small Claims Court.

After the lender accepts, they transfer the agreed amount directly from their bank to the borrower's bank. Paybackly never holds, custodies, or routes your money — every transfer is bank-to-bank.

Borrowers set up a Bacs Direct Debit mandate during onboarding via Stripe. Each installment is collected automatically on the due date. Protected by the Direct Debit Guarantee — your bank refunds any incorrect payment immediately.

Both parties are notified the moment a payment fails. We retry automatically up to three times over nine days. If non-payment persists, the borrower's tier drops and the lender can download the agreement to use as evidence — debts up to £10,000 can be pursued in Small Claims Court without a solicitor.

You must be 18 or older, a UK resident with a UK personal bank account in your own name, and pass identity verification. One account per person. Not available to people on UK or international sanctions lists.

New verified users start at £500. Bronze (£1,000) after 1 loan repaid on time, Silver (£2,000) after 3, Gold (£5,000) after 6. Missed payments may reduce your limit.

Yes — at any time, with no penalty. The total amount you repay doesn't change because there's no interest, but the loan closes sooner and your tier benefits arrive sooner. Early repayments go through open banking — you authorise it in your bank app and the funds are received in seconds. You can pay off any whole number of remaining installments.

We anonymise your profile (name, contact, bank, DOB are wiped) and lock the underlying account so it can never be signed in again. Loan history is retained anonymously for 7 years to comply with UK financial-record rules. Outstanding loans remain enforceable regardless of account status.

Bank details are encrypted at rest with AES-256-GCM. We never store raw ID images — Stripe Identity processes them and returns only a verified status. We never sell data and never share it with advertisers. Full details in our Privacy Policy.