Getting Bip

To keep things extra secure, your bank account details are used to verify who you are when you apply for a Bip account.

They are only used to check you’re who you say you are. They’re not used to set up any payments or Direct Debits.

Your phone needs at least iOS v13 or Android v8 with near field communication (NFC) technology to download the Bip app and open an account. You have to be able to load Bip into your Apple Pay or Google Pay to start spending.

You can also use Bip on your Apple Watch, iPad or MacBook Pro.

Click the links to find a full list of compatible devices:

• Apple Pay(Opens in new tab or window)
• Google Pay(Opens in new tab or window)

Most people’s bank will show the penny in their bank account pretty quickly. But it can take a few hours for some.

Sometimes, your bank or building society might delay depositing the penny into your account. In this case, you might have to wait one working day for the bank to clear it. Here is some specific advice if you use one of the banks below:

• Co-Op Bank: the transaction code only appears after 24 hours.
• Metrobank: the transaction code only appears on their online portal (not via mobile)
• Nationwide customers will need to contact their bank to get the transaction code.

You can request another penny after 48 hours, but if you are having problems, it's best to contact your bank directly.

The text message will only be sent to the mobile number you entered when you checked your eligibility. If you're using this number and the verification code hasn't arrived after 10 seconds, you can ask for another one in your app. If you don't use this number anymore, unfortunately you will need to start a new application.

You have 14 days from the day after you receive confirmation of your initial credit limit to tell the Bip team that you want to withdraw from the agreement. Confirmation of the initial credit limit will be emailed to you when your application has been approved and you've signed your credit agreement.

You can withdraw from the agreement by writing to:

Bip Customer services
PO Box 171
Sheffield
S98 1JS

or calling 0330 838 0115*. If there is a balance to clear, the Bip team will tell you how much to repay and how to pay it. You’ll then have 30 days to pay what you owe, including any interest.

If this happens, you’ll need to wait 90 days before you can apply again. It’s worth checking your credit report before you make a new application.

The information you provide on your application help us to make responsible lending decisions. Details of how we use your information after this are available in our privacy notice.

As a responsible lender, NewDay Ltd will always carry out a credit search. A credit search will be performed when you submit an application for a Bip account which will leave a “hard footprint” on your credit report. Checking your eligibility for Bip won’t impact your credit rating.

Your credit rating helps companies decide whether to give you credit. It’s based on a number of factors including your personal data and history of how your credit accounts are being or have been managed. Each company may work it out slightly differently. We’ll use this information to decide whether to accept you for Bip and how much credit we think is affordable for you.

If you’ve recently opened several credit accounts or applied for a number of credit products in a short space of time, this could reduce your credit rating. This is because lenders wish to lend responsibly and avoid customers taking on more credit than they can afford.