Got questions?
Of course you do!

Something new comes along promising cool things, and you want to make sure it’s legit. It’s your hard earned money, so you should be asking questions about how things work, what it costs, and what the benefits are.

So here’s three quick facts before those questions:

✅ Bits is secured borrowing. This means you secure some money to borrow against. We call this ‘giving a bit to get a Bit’.

✅ Bits is totally free to use right now. We charge zero fees of any kind. So it’s money.

✅ Bits is registered with the Financial Conduct Authority (FCA) as an EMI agent and with the Information Commissioner’s Office (ICO).

When is Bits going to be available?

Very soon. We’re currently testing it before rolling it out into the big bad hyper-critical world. Basically we want to get it right, so we’re using a waitlist so we can make sure we can keep up with customer demand and deliver the best customer service we can from day one.

How does this Bits app work?

It’s pretty simple.

  1. Download the Bits app to your phone.

  2. Add money to your Pocket.

  3. Superpower your money (if you want to).

What is a Pocket?

A Pocket is a prepaid account. You can put money into it and take money out of it - for free.

What are Superpowers?

Superpowers are the ability to multiply your money with the flip-of-a-switch.

To be clear, when you Superpower your money, you’re taking out a loan from us. Zero fee, zero interest, but still money you have to pay back - a loan.

How much does borrowing through the Bits app cost?

Nothing right now. It’s totally free for the next few months. No interest, no fees, nothing.

What if I don’t want to borrow money?

No worries. You don’t need to borrow money to use the app. Using the Bits app is a totally free and secure way to get money paid online and to organise your money into Pockets.

So…the Bits app is free to use?

Correct. 100% free. Zero. Nada.

How do I pay back what I’ve borrowed?

You can pay back at any time by bank transfer. It’s pretty easy to do and there’s clear instructions in the Bits app to help you through the process.

What if I want to pay off what I’ve borrowed early?

Well check you out Rockerfeller. Luckily for you we don’t penalise early re-payment (we’re nice like that), so go for it.

Hang on. Is this all legit?

Yes it’s legit. We have to legally comply with all FCA regulations, where applicable. We are currently registered with the FCA as an Electronic Money Institution (EMI) agent. tl;dr - it’s legal and your money is always safe and secure.

Where is the ‘small’ print?

We try to make things super simple to understand, but you can read the full ‘small’ print related to your data and privacy here and our terms and conditions are here. They will also be available in the app, under your account, for you to look at whenever you want. We’ve also tried to make it not-so-small and easy to understand. So it’s not-so-small-print really. We’re privacy first, and we really sweat those kind of details - so please do take time to read them.

Can I speak to real people?

Of course! We have a team looking after our customers who will be happy to talk to you about anything. They’ll be available 24/7 in the Bits app and will be just a swipe away.

Is Bits a UK only thing?

At the moment yes. Making a great product is hard, so we’re focused on the UK and GBP for the moment. We’ll let you know when that changes, but we have plans.

Whoa - is this a crypto currency thing?

Hell no. This is real actual cash - not some imaginary dream coin.

Why are you doing this?

Good question, glad you asked. We’re a team of people who have all found borrowing money to be painful and complicated. We’ve found ourselves with some cash in the bank but no way to turn that cash into spending power. We’ve had to borrow money from friends and family to secure a rental deposit or buy something essential to further our careers (like, say, a laptop). We made Bits to allow people who work hard to turn their cash into something more powerful. Borrowing money is something everyone has to do at some point in their lives (unless you’re crazy rich already), yet the current process of borrowing money made us feel poorer, stressed, not in control and - well - a bit sad. Bits allows you to use your hard earned money and turn it into something that can make a real impact - and not feel ripped off for doing so.