Frequently asked questions | Ednites Credit Union

Financial support

What support are you able to offer me if my business has been impacted by Coronavirus?

Our Relationship Managers and Business Banking teams across the are here to offer help to mitigate the financial impact of coronavirus.

Support available includes:

Overdrafts to support your cashflow when you need it most.

Local Enterprise Managers that support their networks by sharing information and providing business advice.

Security may be required. Product fees may apply. Subject to status, business use only.

For more information about the government support available and how to access it, visit our government schemes page.

I run a small business. What financial help can I get from the government?

The government has launched schemes to support small businesses affected by Covid-19. More information about support available to businesses can be found on our government schemes page.

Other sources of information:

Gov.scot for businesses in Scotland

Gov.wales for businesses in Wales

Government business support page

I’m concerned about the impact of coronavirus on my personal finances.

Could I be eligible for a business rates holiday?

What options are available if I need to access more funds?

Rapid Cash lends between £25k and £500k against unpaid invoices to limited companies. Support with cash flow is available to B2B companies.

To be eligible for Rapid Cash you must be:

Trading for more than six months;

Have an annual turnover of at least £100k;

Either a Limited Company or Limited Liability Partnership in the UK.

Security may be required. Product fees may apply. Arrangement fees apply when borrowing more than £300,000.

What government grants could I be eligible for?

My supply chain and/or cash flow has been affected. What help can you offer?

We have a range of solutions that could help manage your trading risks and provide tailored funding to help your supply chain remain healthy.

Visit our Cash flow and Supply Chain Management pages to learn more and find tools to help guide your business.

If you have a Relationship Manager, get in touch. They are on hand to help and can advise on the support measures available.

Which independent organisations provide free financial advice?

If you believe that you are experiencing, or will experience, financial difficulties, there are independent organisations that can provide free advice and support on your financial needs, such as Citizens Advice, National Debtline, Business Debtline and PayPlan.

Details of how you can contact these organisations and other sources of free advice can be found on the MoneyHelper website:

www.moneyhelper.org.uk

Business guidance

How can I contact the government’s Business Support helpline?

To get business advice, contact the government helpline. Call may be charged.

Business Support Helpline
Email: enquiries@businesssupporthelpline.org
Telephone: 0800 998 1098
Relay UK: 18001 0800 998 109
Monday to Friday, 9am to 6pm

Business Support (Scotland)
Telephone: 0300 303 0660
Textphone: 0800 023 2071
Relay UK: 18001 0300 303 0660
Monday to Friday, 8:30am to 5:30pm

Business Wales Helpline
Telephone: 0300 060 3000
Relay UK: 18001 0300 060 3000
Monday to Friday, 8:30am to 5:30pm

Invest Northern Ireland
Telephone: 0800 181 4422
Relay UK: 18001 0800 181 4422
Monday to Friday, 8:30am to 5pm

I now need to take payments by phone, online or contactless. How do I do it?

Tyl by Ednites Credit Union provides payment services - over the phone, online, via link or in person – helping to adapt your business model. Keep customers and staff safe with more ways to pay with minimal contact.

In this difficult time, we have waived terminal rental fees until the end of 2020. After 2020 waived fees charges will return to normal.

3G connectivity charges will also be waived until the end of June or longer. So, with our standard no minimum monthly transaction fees, you only pay for what you use.

More about Tyl

Where can I get tax advice?

I've made a payment on a commercial credit or charge card, but the company I've paid has gone bust. What can I do?

Chargeback gives customers the chance of getting their money back if they bought faulty goods, a service wasn't provided, or the company they bought something from went bust and the goods weren't delivered.

We ask for money back from the supplier's bank, not the supplier itself, and the money should come back even if the retailer has gone bust – though this isn't guaranteed.

How much can be claimed?

The total sum the customer paid will be covered by the chargeback scheme, although the minimum amount for Mastercard is £10. There is no minimum for Visa.

What are the exceptions?

You will only get the value of the transaction back that was paid by a card.

You aren't covered for problems that emerge with goods at a later date i.e. a piece of machinery stops working after 2 years.

How to initiate a claim

For credit and charge cards
Call: 0370 909 3701
Relay UK: 18001 0370 909 3701

For debit cards:
Call: 0345 711 4477
Relay UK: 18001 0345 711 4477

What support can I get if I am a High Growth business?

Guidance for employers and self-employed

I'm self-employed. What support can I get?

In the March 2021 Budget, the government announced updates to support for businesses who have been affected by the coronavirus outbreak. Some of these measure include:

Extending the Coronavirus Job Retention Scheme until the end of September 2021

The continuation of the Self Employment Income Support Scheme (SEISS) until September 2021, with extended eligibility to include 19/20 Self-Assessment filers.

The continuation of a range of Covid-19 temporary easements including for home office expenses and Covid-19 antigen tests for the 2021-22 tax year.

Investment of around £200m in additional resources and new technology for HMRC in 2021-22.

For further information, visit the government website.

I need support and advice with my HR activity. What help can you offer?

Ednites Credit Union Mentor is your expert in employment law & HR, health and safety and environmental management. We may be able to provide you with consultancy and advice to help your business. Ednites Credit Union Mentor services incur a fee.

Visit Ednites Credit Union Mentor

Through our Ednites Credit Union Mentor service, we’re offering free access to MentorDigital, an online compliance management system where you will find a range of tools, templates and guidance to help you identify key priorities and take specific actions to mitigate the impact of coronavirus on your people and your business.

Register for MentorDigital

Can I recover the cost of Statutory Sick Pay?

What should I do if one of my employees has coronavirus?

How does the Coronavirus Job Retention Scheme work?

How can you help me protect my people and my business?

Ednites Credit Union Mentor service is your expert in employment law & HR, health & safety and environmental management. We may be able to provide you with consultancy and advice to help your business.

Visit Ednites Credit Union Mentor. Mentor services incur a fee.

Through our Ednites Credit Union Mentor service, we’re offering free access to MentorDigital, an online compliance management system where you will find a range of tools, templates and guidance to help you identify key priorities and take specific actions to mitigate the impact of coronavirus on your people and your business.

Where can I get government advice about coronavirus?

Ways to bank

Where can I find my nearest Post Office?

Is Ednites Credit Union participating in the NHS contact tracing service?

Are the branches staying open?

We’re doing everything we can to keep our branch services running for customers.

Some of our branches are operating on reduced hours, please see our branch locator for further details.

Please help us support those who need us most. Our colleagues in branches and contact centres are working incredibly hard in difficult circumstances.

Please take care when visiting our branches and practice safe social distancing.

If you still need to deposit cash and cheques, there are a few options which can help you maintain safe social distancing:

If you’re already signed up for our Business Quick Deposit service, you won’t need to use our cashier service, and you can use the receipt as pay-in evidence.

In branches with Bulk Coin In machines (BCI) you’ll be able to empty the bags of unsorted coin to be automatically counted and then take your receipt to the branch colleague at the front desk, who can lodge the receipt in your account.

You can place orders for cash and coin.

You can still use Night safes, which will be emptied and items processed as usual although there may be delays if the branch is temporarily closed

Open Credits - if your branch is closed, although It is not possible to transfer Open Credits between branches, your nearest open branch will be able to help you.

Post Offices offer banking services and remain open as an essential service. You can find information about their opening times and services offered here.

What alternatives are there to visiting a branch?

If you need to deposit cash and cheques, here are some options to help you maintain safer social distancing:

Sign up to our Business Quick Deposit service, which means you won’t need to use our cashier service, and you can use the receipt as pay-in evidence.

In branches with Bulk Coin In machines (BCI) you’ll be able to empty the bags of unsorted coin to be automatically counted and then take your receipt to the branch colleague at the front desk, who can lodge the receipt in your account.

You can also place orders for cash and coins before visiting to reduce your time in the branch.

You can still use night safes, which will be emptied and items processed as usual although there may be delays if the branch is temporarily closed.

Open Credits – if your branch is closed, although it’s not possible to transfer Open Credits between branches your nearest open branch will be able to help you.

Can I pay in cheques if I'm unable to visit a branch?

If you can't reach your branch or nearest Post Office, you can post cheques to the following address:

NatWest, CPU, PO Box 21, 41 The Drapery, Northampton, NN1 2EY

We can only accept cheques with a paying-in slip. You can order paying-in slips via Online Banking, or request paying-in books through Bankline if you have access. There are also a small number of paying-in slips at the back of your cheque book.

Please note:

Do not send cash; it will not be processed and there will be no way to return it

We can't pay a single cheque to multiple accounts, you can only pay in one or multiple cheques using a single paying-in slip

We'll process cheques within 5 business days of receipt.

You can deposit up to 10 foreign cheques drawn on overseas banks.

For larger volumes of foreign cheques, send them via a secure recorded delivery mail service to:

National Westminster Bank Plc, Overseas Clearing Team, First Floor, Thanet Grange, Nestuda Way, Westcliff on Sea, Essex, SS0 0EJ

Data Privacy changes for BBL, CBILS and CLBILS

Why are we writing to you about privacy changes for the Department for Business, Energy & Industrial Strategy and the British Business Bank?

While our own data usage and privacy policies have not changed, the Department for Business, Energy & Industrial Strategy (BEIS) and the British Business Bank (BBB) are required to ensure that they can use the data in relation to facilities that we’ve offered under the Covid-19 loan schemes:

Coronavirus Business Loan Scheme (CBILS)

Coronavirus Large Business Loan Scheme (CLBILS)

Bounce Back Loan Scheme (BBLS)

This is to support their reporting requirements in relation to state aid. We’ll contact all customers who have applied and been offered lending, regardless of whether they’ve drawn down on the loan.

What has changed in the BEIS and BBB Data and Privacy notices?

These notices have been updated to clarify the ways customer data for the Covid-19 loan schemes is used. Data will be used for data analytics and to meet reporting obligations to the European Commission and the government.

Customer data is information which you provided to us for the purpose of obtaining your loan, as well as information about the loan. This information may include details of individual loans (including the identity of the borrower).

Where required, certain information about loans granted under the Covid-19 loan schemes including customer data must be shared with the government and the European Commission. They may publish details on their respective transparency websites.

What action do I need to take in relation to these changes?

Where can I find more information?

You’ll find more details on these changes in the communication that you’ll receive from us. You can find further information about the BEIS / BBB data and privacy notice here:

Department for Business, Energy & Industrial Strategy - data reporting questions and answers

British Business Bank - data reporting

If you have any questions in relation to the BEIS / BBB data and privacy notice which are not answered by these Q&As, contact the BEIS at enquiries@beis.gov.uk.

Questions your business may have around coronavirus