Frequently Asked Questions

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What is Karma?

Karma allows users to advance up to £300 from their next wage or salary payment. There are absolutely NO FEES OR INTEREST.

How does Karma work?

When an employer signs up, their employees are eligible to be part of Karma.

Karma allows members to advance up to £300 of their next wage or salary payment in the form of retail cards.

Karma collects funds owed directly from your next wage or salary payment, so you don't need to worry about remembering to pay Karma back.

Is there a catch to using Karma?

There is no catch, there are no fees, there is no interest.

If your employer has signed up to Karma, then you will be able join Karma and benefit from an advance of up to £300 of your next wage or salary payment.

Who can join Karma?

Karma is available to any employee of an employer who is currently signed up to Karma. You must receive your wage or salary payment from the employer and be 18 years of age or older. Karma is not available to contractors. If your employer is not currently signed up to Karma, then please contact us at info@getkarma.co.uk.

How do I know if my employer is signed up to Karma?

Your employer will let you know.

They will provide you with a unique code that you will need to enter during the sign-up process.

What does it cost to join Karma?

There is no fee or charge to join Karma.


Is Karma secure?

Karma is secure. All of your personal data is kept in a secure format and is not used for any marketing purposes. We only share your personal data with key and trusted partners to provide you this exciting service.

What is a Salary Advance?

A Salary Advance is a means of accessing (or advancing) your wage or salary payment before it gets paid.

At Karma we can advance up to £300 of your next wage or salary payment.


How does Salary Advance work?

When you sign up to Karma, we will set you up with your own Karma Payment account.

This is your account, not ours, and it has its own account number and sort code so payments can go in and out easily. It is only used to receive your wage or salary payment and send payments to Karma and you.

To use Karma, you will agree for your wage or salary payment to flow through your Karma Payment account.

This way Karma can collect any funds you may owe that month.

Once Karma has collected these funds your wage or salary payment will flow immediately on to your existing UK account. This whole process is near instant so you should receive your wage or salary payment on the same day as normal.

If you have not used your Salary Advance balance, 100% of your wage or salary payment will flow through to your existing account.


Will joining Karma affect my credit rating?

Karma will not use or impact your credit score.


How do I access my Salary Advance?

Your access to your Salary Advance from Karma is completed during the Setup process within the Karma App.

When you sign up to Karma, we will set you up with your own Karma Payment account.

This is your account, not ours, and it has its own account number and sort code so payments can go in and out easily. It is only used to receive your wage or salary payment and send payments to Karma and you.

To use Karma, you will agree for your wage or salary payment to flow through your Karma Payment account.

This way Karma can collect any funds you may owe to Karma.

We validate your employment with your employer and request your wage or salary payment to be paid into your Karma Payment account. We will not tell them about your usage.

Once Karma has collected these funds your wage or salary payment will flow immediately on to your existing UK account. This whole process is near instant so you should receive your wage or salary payment on the same day as normal.

If you have not used your Salary Advance balance, 100% of your wage or salary payment will flow through to your existing account.

We aim to get you up and running within 24 hours after you have successfully completed the Setup process.

What are the fees associated with a Salary Advance?

Karma does not charge fees or interest.


What is a Karma Payment account?

When you sign up to Karma, we will set you up with your own Karma Payment account.

This is your account, not ours, and it has its own account number and sort code so payments can go in and out easily. It is only used to receive your wage or salary payment and send payments to Karma and you.

The account is provided by our partner Modulr who is registered with the Financial Conduct Authority (FCA).

The FCA requires companies such as Modulr to operate under strict regulation and to Safeguard all client funds.

Safeguarding is different to the capped protection consumers get under the Financial Services Compensation Scheme (FSCS) which offers protection in the event of a failure.

Under FCA rules Safeguarding means Modulr must hold 100% of client funds in a Client Money Account which is protected from any claims relating to the institution’s own solvency.

Modulr holds client funds in protected accounts at the Bank of England.

Modulr must also hold a further 2% of the value of client funds (of their own money) to cover any cost of insolvency.This means that employee funds flowing through a Karma Payment account (underpinned by a Modulr EMI account) are protected.

Modulr Finance Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register Reference: 900573) for the issuing of electronic money.

What is an existing bank account?

Your existing bank account is your UK bank account.


How do I change my existing UK bank account?

Changing your existing UK account is taken very seriously at Karma.

If you request to change your existing UK account, we will carry out a number of security checks to make sure your wage or salary payment is safe and secure. You will need to contact our customer support team at support@getkarma.co.uk and they will ask you for a few additional documents before we can change your existing UK account.


What is the available limit to spend per month?

At Karma we give you up to £300 if you are paid monthly, up to £75 if you are paid weekly or up to £150 if you are paid fortnightly. Initially this is set at £50 and will rise as we confirm that your salary has been paid through your Karma Payment account.

How do you calculate the amount of Salary Advance balance available to me?

Karma asks you to provide your income after tax. 
This helps us calculate a responsible limit to set for your Salary Advance.

The limit will increase in 3 stages. Initially the limit will be set at £50 until your first wage or salary payment has been paid. Once your first salary or wage payment is made, the limit will rise to 15% of the amount paid into your account or £75 maximum. On receipt of your second wage or salary payment, the limit will be set depending on the amount and frequency you get paid. The limit will be set at 7.5% of your monthly take home pay or £75 if you are paid weekly, 15% of your monthly take home pay or £150 maximum if you are paid fortnightly and 30% of your monthly take home pay or £300 maximum if you are paid monthly. 

Example 1: 

“Ahmed” has monthly take home pay of £1,200 per month and is paid fortnightly with each payment equal to £600. In the first payment cycle Ahmed will be allocated a Salary Advance balance of £50. Once he receives his first fortnight's wage or salary payment of £600 his Salary Advance will be increased to £75 (15% or £75). The final increase after his second wage or salary payment is paid will rise to £150 (15% monthly pay or £150). 

Because Ahmed is paid fortnightly after the second wage or salary payment has been received Ahmed's Salary Advance balance (if needed) will rise to £150. 

This is the maximum balance available to someone who is paid weekly for fortnightly. 

Example 2: 

“Abby” has monthly take home pay of £1,800 per month and is paid monthly.

In the first month Abby will be allocated a Salary Advance balance of £50. Once repaid, the limit will increase to £75 for the second month.

Because Abby is paid monthly, after the second wage or salary payment has been received Abby's Salary Advance balance (if needed) will rise to £300. 

This is the maximum balance available to someone who is paid monthly

How do I pay back my Salary Advance?

Karma takes care of the whole process and collects the funds from your next wage or salary payment with no fees or charges. If you borrow £100, we will collect £100.

Can I stagger my repayment for my Salary Advance balance?

We cannot currently give you this option. 100% of funds owed from your Salary Advance will be taken from your next wage or salary payment.


How can I find out how much will be taken from my next wage or salary payment?

On the home screen of the Karma App we tell you the exact amount that will be taken from your next wage or salary payment.

If you'd like a more detailed breakdown of how you have spent your Salary Advance, then simply tap on the ‘Salary Advance balance’ icon on the home screen at any time.

Will I still be paid by my employer?

Yes. You will still be paid by your employer.

The reference name and/or number that appears in your existing UK account may be different as the funds will have flowed through your Karma payments account first.


Will I still receive my wage or salary payment from my employer on the same day?

You can expect to receive your wage or salary payment on the same day as normal.

As soon as the wage or salary payment reaches your Karma Payment Account, we will deduct any funds owed that month and forward the remaining balance to your existing UK account almost immediately.

Where can I spend my Salary Advance?

Karma users are free to spend their Salary Advance to buy retail cards from retailers available within the Karma App.

How often can I use Karma?

When you sign-up to Karma we will set a maximum Salary Advance balance that will be available to you should you need it.

Which retailers can I use Karma with?

Please see a list of our current partner brands below.

 

Merchant

Available in Karma now?

Asda

Tesco

Amazon

Primark

Foot Locker

Costa

Adidas

Burton (Arcadia)

Dorothy Perkins (Arcadia)

Evans (Arcadia)

Miss Selfridge (Arcadia)

Outfit (Arcadia)

Topman (Arcadia)

Topshop (Arcadia)

Wallis (Arcadia)

Pizza Hut

Starbucks

Pizza Express

Caffe Nero

Decathlon

All bar one

Bonmarche

Gap

 

You can request cards from multiple retailers up to the total value of your Salary Advance limit e.g. you could request £25 from an online retailer and £50 to use at your local supermarket for food and essentials.

Can I use my Salary Advance to get cash?

No. You may only use your Salary Advance to buy retail cards available from the Karma App.

How often do new retailers get added to Karma?

We are always increasing the list of retailers and brands we have on offer in the Karma App.

Please click here to see a list of our current partner brands.

Can I suggest a new retailer to be added to Karma?

Of course! We want our customers to influence the direction that we head.

Please contact us at info@getkarma.co.uk to let us have your suggestions.

Can I use Karma abroad?

Currently Karma is only registered for use by UK residents and within the UK.


How do I request a retail card?

Requesting a new retail card within the Karma App is simple.

Go to the 'Shop' using the navigation bar at the bottom of the screen, tap on the brand you want a retail card for, select the amount you'd like on the retail card, read the terms and conditions and tap "Confirm and request".

How long does it take for a new card application to be approved?

When you apply for a card there are a couple of checks that we have to do behind the scenes. Between 6am and 10pm 365 days a year, we aim to approve and issue your retail card within 5 minutes of you making your request.

Outside of these hours requests will normally be processed by 7am the following morning.


My new card has not been approved yet. What does this mean?

We are sorry it's taking a little longer than usual to process your request.

Please contact customer support at info@getkarma.co.uk and one of our team members will be happy to investigate for you.

My card application was declined. What does this mean?

The main reason why an application would be declined is if the retailer has stopped offering the card and our system has not yet refreshed. Occasionally we may have to decline your card for other reasons.

Please contact customer support at info@getkarma.co.uk who will be happy to investigate.


What does ‘pending’, ‘active’, ‘archived’ card mean?

In your card wallet you will see 3 tabs. These indicate the current state of the card:

- Pending: Karma has received your retail card request and is working on the approval process

- Active : Your retail card is approved and ready to use

- Archived: You have told us that the full retail card balance has been used and chosen to archive this retail card

- Declined: Retail card requests that we were unable to approve


How do I redeem a card?

First, tap the retail card you'd like to spend with from either your home screen or wallet.

Next, enter the exact amount you'd like to redeem from the retail card, show the retail specific code (as shown in the Karma App) at the checkout or enter the code online then tap confirm.

Your new estimated balance will then be updated by you ready for the next time.

If you've redeemed the full value of the retail card, you can add it to your archive as a record of your card purchases.


Where can I use a retail card?

For most retail cards, you can use them either in-store or online. Please check the terms and conditions of the individual retail card for exact locations. Simply generate a retail specific code in the Karma App and present it at the in-store checkout or enter the code online.


What does Estimated Balance mean?

Not all of our retail partners allow us to check the real-time balance of the retail card.

That's why we've created estimated balances. It's a tool that not only allows you to keep track of your balances, but also helps you budget and think about the amount and where you are spending your money.

Every time you use the retail card, we ask you to enter the value you want to redeem. We use this information to help you keep track of the balance.

As we can't guarantee if the amount you enter is exactly the same as the amount you redeem at the checkout, we call it Estimated Balance.

If you make a mistake, don't worry - you can edit your previous transaction to update the Estimated Balance.  

You can never spend more than the original amount of the retail card.

How do I check the ‘real’ balance of my card?

Some brands provide an online portal to check the balance of a retail card.

Click here to see which brands provide a 'balance check' link.

If you find the brand you are looking for then tap on the link and follow the instructions. By doing so you are leaving the Karma environment, and Karma cannot take responsibility for any security issues that you may encounter.

Alternatively, some brands may require you to check a card balance in-store at the till.


Does a card have an expiry date?

All cards have a minimum of 12 months to use the balance, most can be used for much longer. Please check the terms and conditions of the individual card within your card wallet.

Can I get a refund on a retail card purchase?

Karma does not offer refunds on retail cards. If you'd like a refund on goods you have purchased with your retail card, then please refer to the specific retailer.


Why do I need to provide my ID documents to Karma?

When you sign up to Karma, we will set you up with your own Karma payments account.

This is your account, not ours, and it has its own account number and sort code so payments can go in and out easily. It is only used to receive your wage or salary payment and send payments to Karma and you.

The account is provided by our partner Modulr who are registered with the Financial Conduct Authority (FCA). In order to open the Karma payments account Modulr need to verify your identity and where you live.

What happens if I leave my employment?

If you leave your employer for any reason you need to let us know. You will be able to use Karma up until your final wage or salary payment has been paid. Please contact us at info@getkarma.co.uk to inform us of a change to your employment status.

What happens if I change my job?

Karma is only available to employees of employers who have signed up to Karma. If your new employer is not signed up to Karma then please refer us, via info@getkarma.co.uk, to their HR department and leave the rest to us.

You will still be able to browse in the Karma App and redeem existing retail cards, but you will not be able to make new retail card purchases. Please contact us at info@getkarma.co.uk to inform us of a change to your employment status.

How do I opt out of Karma?

We are sorry you want to leave Karma. Did we do something wrong? Please let us know at info@getkarma.co.uk You are able to stop using Karma at any point. If you do not use your Salary Advance to buy a retail card, then 100% your salary will be forwarded to your existing UK account without any deductions. If you wish to fully leave and opt-out of Karma you must instruct your employer to change the account to which your wage or salary payment is made to your existing UK bank account. If you wish to start using Karma again you will need to re-register via the Karma App.

I have forgotten my login and password details, how can I reset them?

Simply tap forgotten password on the login screen and follow the instructions. If you are still having issues, then please contact customer support at support@getkarma.co.uk.

How do I report a bug in the App?

Occasionally, not everything goes to plan, and things may not work as they should. We would love your help in identifying and fixing these issues. Please contact us at support@getkarma.co.uk and help us make Karma the best experience we can.

What are the eligibility criteria for my company to join Karma?

To join Karma your business must be registered in the UK and employ at least 20 employees.


Are there any fees to partner with Karma?

Karma does not charge either the employer or the employee. We don't charge interest and we don't charge fees. Your employees are not obliged to join Karma, it is an optional benefit that allows them to advance up to £300 of their wage or salary payment.


How will Karma benefit my employees?

Karma provides employees with the ability to advance up to £300 of their next wage or salary payment with zero charges and zero interest. Employees may turn to high cost forms of credit when money gets tight which can lead to future debt, stress and anxiety. Karma aims to remove this challenge.

How will Karma benefit the employer?

Partnering with Karma will allow you to offer your employees a fee free, interest free way to advance up to £300 of their wage or salary payment. Less stress means a happier, more productive workforce with lower absenteeism.


Is it easy to register with Karma?

Joining Karma is simple. Contact us at info@getkarma.co.uk


How secure is our employees’ data?

Karma uses suitable encryption methods and we frequently test our systems to ensure data is safe and protected.


Will the employer have a dedicated contact?

Every one of our partners is assigned a Partner Manager as the first point of call for any questions or support.


What employee data will you require from the employer?

Karma will need to verify that an applicant to our platform is a true employee of the employer.

This can be successfully achieved in a number of ways and the amount of data exchanged will be tailored to your preferences. In most cases the verification process can be accomplished with between 1-3 data points.

For more information please contact us at info@getkarma.co.uk


What risks am I taking on as an employer?

When an Employer signs up to Karma they will not be liable for any financial risk related to their employees' use of Karma.


Does Karma require any technical interactions?

No. We want joining Karma to be simple.


What happens if an employee has not earned enough to pay their Salary Advance?

We look to ensure that members do not get into a position where their wage or salary payment is less than any Salary Advance from Karma. In the unusual event where this happens, we will work with the employee to find the best way for them to repay any outstanding balance. The employee’s Salary Advance is in the employee’s name and while
Karma takes care of repayment automatically, the employee is ultimately responsible for repayment.

What happens with wage or salary deductions, e.g. tax, NI, sick pay etc.?

There will be no changes to how your payroll is normally processed. Karma does not need to integrate into your payroll either.

How do I opt my business out of Karma?

Opting out of offering Karma to your employees is a straightforward process.

You will need to notify Karma of your intention and we will work with you to help you during the transition period. We recommend a minimum of 2 months to notify employees and manage the transition period.

What happens if an employee contract is terminated?

When you join Karma, both the employer and the employee agree to notify us of any employment termination. Karma will settle any amounts owed from the employee’s final wage or salary payment and then we will sort the rest.

Please contact us at info@getkarma.co.uk to inform us of a change to any employees’ employment status.


How do I inform my employer to change my details to my Karma Payment account?

You will need to instruct your employer to change your payroll bank details to your new Karma Payment account. Your salary will only flow through this account so that we are able to collect any funds owed. We will immediately forward the remaining funds to your UK Bank Account. Once we have set up your Karma Payment account we will send you a notification to let you know it's ready. When you login you will see a screen which contains your new account number and sort code. These are the details you will need to provide to your HR manager or individual that manages payroll in your company. To make it simple we've created a template email that you can copy, paste and send.

Once you've sent the email, go back to the Karma app and confirm that you've sent the instruction to your employer. You're now ready to use Karma.

Has your employer signed up?
Download the Karma app