Tappily Loans Alternatives From £100 – £5,000

Updated: November 04, 2024 Author:

Tappily was a UK-based online lender that offered a flexible credit facility to consumers.

It operated as part of the wider company, Shelby Finance Ltd, which was authorised and regulated by the Financial Conduct Authority (FCA).

Tappily provided an alternative to traditional payday loans by offering a revolving credit line, which allowed customers to borrow money as needed, up to a pre-approved limit.

The key appeal of Tappily was its ability to automatically top up customers’ bank accounts when their balance was low, helping them avoid overdraft fees or bounced payments.

Instead of a fixed repayment term, Tappily’s system worked more like a credit card, where users repaid borrowed funds based on their available balance and usage.

Interest was charged daily, but customers only paid interest on the amount they borrowed and for the days they used it.

Tappily also performed affordability checks to ensure that the credit they offered was suitable for the individual’s financial situation.

While its offering attracted users seeking flexibility in managing short-term cash flow, Tappily was part of the broader sector of high-cost credit, which faced scrutiny due to concerns about the impact of fees and interest on consumers already facing financial challenges.

How Tappily’s Credit Line Worked

Tappily’s credit line offered users flexible access to funds, similar to a revolving credit facility.

Customers applied online, and if approved, they were given a credit limit based on their financial circumstances.

The standout feature of Tappily was its automatic top-up system, which transferred money into users’ bank accounts when their balance fell below a set amount.

This helped customers avoid overdraft fees or declined payments.

Interest was charged daily, but only on the amount borrowed and for the time it was outstanding.

There was no fixed repayment schedule—borrowers could repay as and when they had the funds. Repayments reduced the balance, allowing customers to borrow again when needed, provided they stayed within their limit.

Key Features of Tappily’s Service

Tappily offered flexible credit with an automatic top-up feature to prevent overdrafts.

It charged daily interest only on the borrowed amount, with no fixed repayment schedule.

Customers could borrow up to their approved limit, repay as they wished, and reborrow as needed, providing ongoing access to funds.

How Tappily Was Different From Payday Loans


Tappily differed from traditional payday loans by offering a revolving credit line rather than a one-off, lump-sum loan.

While payday loans typically required full repayment on the next payday, Tappily allowed flexible repayments over time.

Interest was charged daily on the borrowed amount, unlike payday loans, which had fixed fees and higher annual percentage rates (APRs).

Tappily also provided an automatic top-up feature to help users avoid overdraft charges, whereas payday loans offered no such ongoing account management.

Tappily’s Closure: What Happened?

Tappily, operated by Shelby Finance Ltd, closed its lending services in 2023.

The closure came amid increasing regulatory scrutiny of high-cost credit providers by the Financial Conduct Authority (FCA).

Rising concerns about affordability assessments and the overall impact of high-interest lending on consumers contributed to the company’s decision.

Like many firms in the sector, Tappily faced challenges complying with tighter lending rules, leading to its withdrawal from the market.

Existing customers were advised to repay outstanding balances as normal.