Booster account understanding

I put in £160 and used it but now says £-137 credit limit 2 weeks later…I don’t understand what it actually means can anyone help?

Hi Rick2020,

The booster account gives you a credit limit equal to the amount you deposit, so in your case it will be £160. There is however a monthly fee payable (not sure which day this is taken out), so as you have used the card, your balance of £137 is that available credit left. As you are probably aware you will get your deposit (£160) back either when you close the account or when you get moved to the normal Tymit card.

Hopefully that answers your question.

Shola

Thanks for the reply!

Odd that it shows minus. I would expect a credit line to be shown as a positive balance. A small bug perhaps!

@Oisin Is this a bug within Booster or is this a clash between the bank transfers as i believe theres a seperate Acc No. and Sort Code for Credit Deposit and Bill Payments?

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My available credit doesn’t show as minus just says £19.88 of £30.00 which is my current limit

Hi @Rick2020, are you still having this issue?

Hi, yes it’s still in the minus at this point

Hi @Rick2020 , I can see you’ve opened a ticket about this. I’ve asked the team to take a look and get in touch. Hopefully they’ll get to the bottom of it soon.

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Thanks…also I’ve just made a payment for my statement date but monzo wouldn’t let me out a reference in for payment. Will it matter?

I think you have to put the reference so that they can allocate it to your account

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Oh bloody hell. Great stuff lol

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Maybe send them a message asking if they need your account details etc to match up the payment to your account @Oisin maybe you could advise?

Yeah I’ve sent them message, can’t see them just ignoring or losing the payment

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I read somewhere that adding the reference means they can allocate the payment to your account quicker or will show up instantly.

It’s probably not that much of an issue but I would of contacted support as well in this circumstance just to make sure.

As long as the payment is sent from an account in your name it should be fairly easy enough to match up I would have thought.

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Yep, you’re right @Billy , using your reference does help us match the payment quicker to your account. When I use mine, it shows up almost instantly.

@Rick2020 if youve opened a ticket, the customer services team will get that sorted for you. No need to worry about missing a payment if it’s been sent.

Thanks for the reply :raised_hands:

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Hey guys ive been accepted for tymit boost but im completely CONFUSED to say the least! If i for example transfer £50 how much will my credit limit be? Is my credit only the money I transfer or do i get loan money on top of my transfer? Hope someone understands my question as i am so confused. Thanks in advance

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Hello @lauren and Welcome to the Tymit Community :wave:.

With Tymit Booster the amount you deposit is the amount of credit you have available. So to answer your question if you deposit £50 you will have £50 credit.

You can deposit more at a later date as and when you want to using the correct Account Number & Sort Code and Referende given in the app :grinning:.

Any more questions @ me in and I will reply as soon as I can

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How do I use my credit? It keeps declining?