Welcome to Updraft! Creating your account is the first step towards taking control of your finances, paying down borrowings, and building better financial habits. This guide will walk you through the entire process, from download to your first look at your personalized financial dashboard.
Before You Begin
To make the sign-up process as smooth as possible, please have the following ready:
Your Mobile Phone: You'll need an iPhone (iOS) or Android device with app access, and your mobile number for verification.
Online Banking Details: To securely connect your bank accounts via Open Banking, you will need the login credentials for your mobile banking app or online banking website.
Personal Information: This includes your full name, date of birth, and current address for identity verification.
Financial Information: Details about your income to help us assess affordability.
The Step-by-Step Sign-Up Guide
Step 1: Start Your Application You can start your application in one of two ways:
On our website: Begin the application process on your computer or mobile browser.
In our app: Head to the Apple App Store or Google Play Store, search for "Updraft," and download our free app to begin.
Step 2: Create Your Account and Set Security This step creates your secure login.
Register Details: You will be prompted to enter your email address, a UK mobile phone number, and create a secure password.
Account Verification: We will then guide you through a quick step to verify your details and secure your account.
Create Passcode (App Only): If you are signing up in the app, you will also set up a secure passcode (a short PIN). You will use this for quick and easy access to the app going forward.
Step 3: Provide Your Personal Details Next, we need to get to know you. We will ask for basic personal information, such as your legal name, date of birth, and current address. This is required for identity verification (KYC) and to comply with UK financial regulations.
Step 4: Securely Connect Your Bank Accounts via Open Banking This key step allows us to get a clear, read-only view of your financial situation.
You will be asked to select your bank(s) from a list.
You will then be securely redirected to your bank's own application or website to approve the connection.
Important: You enter your login details directly with your bank. Updraft never sees or stores your banking password.
Step 5: Review Your Financial Profile Once your accounts are connected, our technology will analyse your information to build your financial profile. This allows us to provide you with your free credit score and a summary of your financial position.
Step 6: Check Eligibility and Complete Your Loan Application Once your profile is set up, you can begin your loan application.
You’ll be asked to confirm a few details, and then we’ll run an initial eligibility check using a soft credit search, which won’t affect your credit score.
If you’re eligible, you’ll see an indicative offer showing your potential loan amount, rate, and term.
Only if you choose to proceed and accept the offer will we carry out a hard credit search and final affordability assessment.
Step 7: Download the App (If You Used the Website) If you applied on our website and accepted a loan, you will need to download the Updraft app to manage your loan, see your statements, and use our financial wellness tools. If you started in the app, you're all set!
Frequently Asked Questions (FAQs)
How long does the whole process take? Most users can set up their account, connect their banks, and check their eligibility in under 10 minutes.
Why do I have to connect my bank account? Connecting your bank account is essential for how Updraft works. It allows us to analyse your actual income and expenditure, which means we can offer you a loan rate that's tailored to your real financial situation, rather than relying solely on a traditional credit report.
Is it safe to provide my banking details? Yes. You are not providing your login details to Updraft. The Open Banking system securely transfers you to your own bank's trusted environment to approve the connection. We are regulated by the Financial Conduct Authority (FCA) and use 256-bit TLS encryption to protect all your data.
Are there fees for paying the loan off early? No. Updraft charges no fees or penalties for making extra payments or for paying off your loan in full ahead of schedule.
I can't find my bank on the list. What should I do? We support the vast majority of UK banks and building societies. If you can't find yours, please contact our support team through the app, and we can investigate for you.
What's Next?
Congratulations! Your Updraft account is now set up. Take some time to explore the app:
Check your dashboard for an overview of your connected finances.
View your free credit report and see what factors are affecting your score.
If eligible, review your loan offer details.
Still Need Help? If you run into any issues during the sign-up process, our friendly UK-based support team is here to help. The best way to reach us is via the secure in-app chat.