01 October 2025
London, 1 October 2025 – Funding Circle, the UK’s leading SME finance platform, today announces the removal of foreign transaction (forex) fees across its entire business card portfolio, including the FlexiPay card and its newest product, the Cashback Business Credit Card.
This move directly challenges the UK market status quo, where SMEs have had to choose between fee-free debit cards with no credit or installment facilities; or traditional business credit cards laden with forex fees of up to 3%.
The decision is a direct response to the evolving needs of modern UK businesses, which increasingly operate globally by default. Paying for international software subscriptions, running multi-currency digital ad campaigns, and sourcing supplies from overseas, etc; Funding Circle aims to eliminate the friction and unnecessary costs that penalise businesses with international footprint.
Funding Circle offers two distinct, powerful credit solutions tailored to different business needs, empowering owners to choose how they manage their global spending:
-
For flexible instalments: The FlexiPay Card. Businesses can now fund international stock purchases, equipment, or supplier payments and spread the cost into simple, interest-free instalments. This provides predictable cash flow and protects profit margins by eliminating hidden fees. It's cash flow freedom, without borders.
-
For maximum rewards: The Cashback Business Credit Card. Businesses can turn their global expenses, from digital ad spend to software subscription, into a revenue stream by earning a market-leading 2% cashback (6 months (max £2,000) then 1% after) on every transaction, all while paying zero forex fees. It stops draining spend on unfair fees while reversing the flow with more savings.
This strategic move positions Funding Circle as the clear choice for ambitious small businesses that need a reliable solution that removes financial borders and empowers them to operate globally.
James West, Strategy & Growth Director at Funding Circle said: “We're scrapping forex fees for one simple reason: our products are truly built for small businesses, and that means fighting their corner. For too long, SMEs have seen their hard-earned profits eaten into by fees just for operating internationally. In today's economy, that’s not just an inconvenience; it's a barrier to growth. We want customers to feel confident bringing all their transactions to Funding Circle and benefiting from the flexibility and rewards we offer, without limits or borders.”
- ENDS -
About Funding Circle
Funding Circle (LSE: FCH) is the UK’s leading SME finance platform. Established in the UK in 2010, Funding Circle has extended c.£16bn in credit to over 110,000 businesses in the UK.
For SME borrowers, Funding Circle provides an unrivalled customer experience, delivered through its technology and data, coupled with a human touch. Its solutions continue to help customers access the funding they need to succeed.
For institutional investors, Funding Circle provides access to an alternative asset class in an underserved market, and delivers robust and attractive returns.
