Child Benefit Loans

Get the help you deserve today

Easy to apply
Affordable, flexible repayments
Representative APR of 42.6%
Borrow just £100 or up to £1,000
No hidden costs or sign up charges
People with poor credit history can apply

This loan is available for families in receipt of Child Benefit. However, you will need to agree to your Child Benefit being paid directly into your loan account with us.

Before you borrow from us, you may want to take a look at the Dealing with Debt page on the Money Helper website. It’s full of practical guidance, including where to go for
free debt advice.

Set Up Child Benefit Payments

Step 1

You apply for our Credit Union Loan.

Step 2

We will send you a text requesting that you divert your Child Benefits to the Credit Union.

Step 3

You will have to log in to HMRC web portal or app to update your payment details.

HMRC Google Play

HMRC Apple App Store

Step 4

Log out of the portal or app and log back in, this should refresh the system and show the new updated payment details into the Credit Union.

Step 5

Once these details are confirmed and appear on your HMRC account, screenshot the proof and send it over to us.

Step 6

Once we receive this proof, the loan funds will be released to your account.

Apply for a Credit Union Loan

Child Benefit Loans FAQs

What happens if my Child Benefits is more than my loan payment?

Your remaining Child Benefits will automatically go into your savings account, which you can withdraw via our app, or you can request for it to automatically go back to your registered bank account.

Am I able to get child benefits?

You get Child Benefit if you’re responsible for bringing up a child who is:

under 16
under 20 if they stay in approved education or training

Only one person can get Child Benefit for a child.

There’s no limit to how many children you can claim for.

If you feel like you should be getting child benefits then you can use a government approved benefits calculator through the link below:

Benefits calculators – GOV.UK (www.gov.uk)

What if I am locked out of HMRC?

You will be locked out of your HMRC account if you enter the wrong user ID or password 5 times, it will unlock after 2 hours.

If you’ve forgotten the user ID or password you use to sign in, you can:

How do I cancel my Child Benefit payments?

To cancel your Child Benefit payments, you will have to use the HMRC app and revert your payments back to your chosen bank, similar to updating the payments to come to us originally.

If you still have an outstanding balance with us, you must set up a standing order in place of the Child Benefit payments.

How do I set up payments using the HMRC app?

You will need to set up your Child Benefit payments through HMRC, by diverting them to come to our bank, see our full step-by-step guide here.

What account should I select?

We have a business bank account and we use Barclays for our banking.

What do I do if I can’t use the HMRC app?

If you are digitally excluded from the HMRC app then you will have to call them up directly on 0300 200 3100 to divert your payments to us, please provide them with our bank details:

Account number: 40377333

Sort Code: 20-63-28

We will then allocate your loan funds as soon as we receive your first payment, please call us when you are expecting it for confirmation.

How do I send proof that I have set up my payments?

Once you have requested the change via HMRC you will have to log out of that account and log back in for it to register the request, you must screenshot as evidence and send this to us through the link that will be on our text to you.