Magpie Credit
Magpie CreditSpecialist lenderLends to people other banks turn away. Money the same day, even with a low credit score, but its loans are expensive.
- Accepts low credit scores
- Money the same day
- Warning: expensive loans
Current account
Magpie Everyday: money in and out at any time, and you can have your salary paid straight into it. It pays 0.00% a year on money in it. Overdraft up to £2,000 for a credit score of 450 or more, at 32.50% a year (Bank Rate +30), charged daily while you are below £0.
Savings
Rates are the Bank Rate (2.5%) plus or minus this bank's margin, and never below 0%. Interest outside a Cash ISA is taxed (see the Budget).
| Account | Type | Rate a year | Bank Rate plus | Smallest deposit |
|---|---|---|---|---|
| Magpie Saver | Easy access | 2.50% | +0 | £50 |
| 7-day Fixed | Fixed for 7 days (locked, no early withdrawal) | 3.50% | +1 | £200 |
| Magpie 7-day Notice | 7 days' notice | 4.00% | +1.5 | £50 |
Log in to save or borrow.
Investing
Buy and sell shares on the UKOGB Stock Exchange from inside an account here, using its cash. The platform fee is a percentage a year of what the account is worth, taken a little every day; the dealing fee is taken once for each order that trades. Magpie Credit keeps the fees.
| Account | Tax | Platform fee a year | Dealing fee |
|---|---|---|---|
| Magpie Trader | Dividend tax and capital gains tax apply; no limit | 0.00% | £8 |
Loans
| Loan | Amount | Longest term | Rate a year | Bank Rate plus | Credit score needed |
|---|---|---|---|---|---|
| Quick Cash | £50 to £3,000 | 6 weeks | 20.50% | +18 | 400 |
Insurance
| Policy | Covers | Premium a week | Most on one claim | Most in a week | Excess | Credit score needed |
|---|---|---|---|---|---|---|
| Magpie Court Cover Legal cover | Court fines, damages and costs you are ordered to pay | £55 | £3,000 | £4,000 | £50 | 400 |
| Magpie Trade Cover Business cover | Damages and costs your company is ordered to pay, and business losses | £150 | £5,000 | £8,000 | £250 | 400 |
The price depends on your credit score and goes down 5% for each week without a paid claim (up to 30%). A paid claim resets it. Cover starts 3 days after you buy, for things that happen from then on. 2 missed premiums in a row and the policy lapses. FCA fines are never covered.
The bank's money
| Cash in reserve | £129,412 |
| Savers' deposits (what it owes savers) | £0 |
| Cash it must keep (20% of deposits) | £0 |
| Loans still owed to it | £0 |
| Owed to it on overdrafts | £0 |
| Platform and dealing fees earned | £32 |
| Shares it owns, at today's prices | £53,328 |
| Capital (its own money) | £80,000 |
| All money ever lent / paid back | £0 / £0 |
| Interest earned on loans / paid to savers | £0 / £0 |
| Dividends from shares | £25,032 |
| Lost to defaults (0 loans) | £0 |
| Insurance premiums taken / claims paid (0 claims) | £0 / £0 |
Investments
| Company | Shares | Last price | Value |
|---|---|---|---|
| Hopkins PLC | 2,222 | £24 | £53,328 |
Recent activity
| When | What | Cash |
|---|---|---|
| 6 Nov 2026, 15:05 | Sold 0 of 1111 Hopkins PLC shares at £24 (the price is 403% above its recent average); the rest waits on the exchange | |
| 5 Nov 2026, 15:05 | Sold 0 of 2222 Hopkins PLC shares at £6 (the price is 103% above its recent average); the rest waits on the exchange | |
| 4 Nov 2026, 15:05 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 3 Nov 2026, 15:00 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 2 Nov 2026, 15:00 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 1 Nov 2026, 14:41 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 31 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 30 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 29 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 28 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 27 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 26 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 25 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 24 Oct 2026, 21:35 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 23 Oct 2026, 21:30 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 22 Oct 2026, 21:12 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 22 Oct 2026, 16:47 | Sold 0 of 3980 Hopkins PLC shares at £6 (the price is 219% above its recent average); the rest waits on the exchange | |
| 22 Oct 2026, 12:52 | Sold 0 of 7960 Hopkins PLC shares at £2 (the price is 75% above its recent average); the rest waits on the exchange | |
| 22 Oct 2026, 00:25 | Bought 15920 of 15920 Hopkins PLC shares at £1 (the price is at its recent average) | -£15,920 |