How Ontime works
Think of your Ontime account like a special bills account—that gets your bills paid before the rest of your wages are sent to your current account for you to spend on things like food, fuel and fun. Right now we can help you make repayments to your provider but in future we'd love to help you manage more of your regular bills.
So, how does it work?
- On payday, your employer sends your wages to your Ontime account
- Ontime makes the payment to your provider with the Ontime discount applied
- Three seconds after your wages arrive into your Ontime account, we'll send the money left over to your regular bank account
You don't have to do a thing. When your pay comes in, Ontime will automatically make the payment to your provider.
There's one important thing to know. When your pay arrives in your Ontime account for the first time, things might be different. If your provider has already asked for the payment to be taken through Direct Debit, Ontime will not make the payment to your provider for you. In this case, Ontime would send all of your pay to your current account. The next time your pay arrives into your Ontime account, we'll make the repayment to your provider for you. We'll then send the rest of your wages through to your current account.
We'll email you at the time to let you know what's happening with your repayments to your provider.
As long as your pay is more than your payment due to your provider, you won't miss a payment when paying with Ontime.
If your pay is less than the amount of the repayment due to your provider, Ontime won't be able to make the payment for you. If this happens, please contact your provider to discuss your loan. Their team will be able to help you.
If you can't afford a payment, you must contact your provider directly. They will listen to you and help you to manage your situation.
If you can't afford your repayment, you can ask your provider for a refund for the most recent amount taken by Ontime, and they will make the refund.
Yes. You can contact your provider to cancel a payment that hasn't yet been taken - and they must do this.
Yes. You can ask your provider to stop taking payments through Ontime—and they must stop.
No. Your employer won't know anything about Ontime or your provider—they'll just see that you're changing the account they pay you into. You are the owner of your Ontime account.
Your wages will pass through your Ontime account in about 3 seconds—on average.
Every time you make a payment to your provider through Ontime, your repayment amount will have the discount applied to the repayment.
Modulr FS Limited is the Authorised E-Money Issuer that provides your Ontime Account. Modulr is regulated by the Financial Conduct Authority.
You can find details about Modulr on the FCA website or on their website
They are a company incorporated in England and Wales, responsible for safeguarding the e-money in your account.
No, Modulr is not a bank. They are an Authorised E-Money Issuer regulated to provide e-money accounts.
Modulr is regulated by the Financial Conduct Authority.
You can find details about Modulr on the FCA website or on their website
They are a company incorporated in England and Wales, responsible for safeguarding the e-money in your account.
Onfido is a company which Modulr uses to check your identity when they set up your Ontime account. We think their tech is the best in the business—and it's used by the likes of BT, Co-Op and Revolut. To find out more, see Onfido's website.