Holders of Vanquis Bank’s credit-builder credit cards in the UK can now make instant payments into their account from any major UK bank without using a debit card and receive instant updates on their available credit via the Vanquis mobile banking app.
The bank provides Visa-branded credit cards for customers outside the standard credit market who are establishing or rebuilding their credit rating.
Vanquis has now added NatWest’s Payit open banking payment service to its mobile app to enable those wanting to improve their payment history to manage and monitor their payments more “quickly and simply”.
“When you select Payit to pay your Vanquis card, you’ll see all your bank balances in one view so you’ll get to choose the bank account you would like to make your Vanquis payment from,” the credit card company says.
“Once you’ve made your Vanquis credit card payment, you’ll see an instant update to your available credit unlike other payment methods that take much longer to reach your account and don’t provide an instant update to your available credit.”
NatWest launched the Payit open banking payment service in July 2020.