+£5
14 mins
Zilch
£5 Free Cash•14 mins
£5 Free Cash
+£5
What is Zilch?
Zilch is a mobile banking app that uses Visa. It offers Buy Now Pay Later and has become one of the most popular finance apps in the UK.
Launched
2020
Customers
5m+
Google Play
4.8 (23k)
★★★★★★
Key Terms
Profit
+£5
Credit checkSoft check
DepositNone
Free cash£5
Free cash arrives1 days
Step by Step Guide
Chris's overview
Optional·1 min read
You'll get £5 free cash credited instantly to your Zilch Rewards balance just for signing up using a referral link. No purchase required, no deposit needed - just sign up and verify your identity. Easy peasy.
If you decide to use Zilch beyond the free £5, it is great if you are looking to spreading costs interest-free or grabbing cashback at retailers. The app is slick and easy to use. Check out the full review further down for all the details.
1
Sign up to Zilch
10 mins
- Use the referral link below to download the app
- Verify your identity with passport or driving licence
- Add a debit card for future payments
On desktop? Scan QR code on your phone
2
Receive £5 cash
2 mins
- £5 credited instantly to your Zilch Rewards balance
No purchase required - just complete signup
3
Spend £5 cash
2 mins
- Use online via the app e.g. Amazon
- Click on 'Online'
- Search for your online retailer
- Choose 'Pay now' (which has no fee - It will initially show there is £1 to £2 fee. The fee only applies if you are spreading the purchase over 6 weeks)
- Apply the £5 reward (This will take you to the retailer's website where you can shop and buy)
- Or use your £5 free cash in-store e.g. local supermarket
- Once at your local supermarket checkout (or up to 2 hours before), open the Zilch app, search for the supermarket.
- Select 'Pay now' and apply the £5 reward (see image below). You can then pay with Zilch card via your Google Pay /Apple Pay wallet.
Offer Complete
Done? Tick off each step above to see your total.
Zilch Full Review
Completed the offer? Awesome! Here's our full review on why Zilch could work well for you going forward.
Zilch is a UK-based buy now, pay later (BNPL) app that lets you spread the cost of purchases over 6 weeks, interest-free. Founded in 2018 and launched to consumers in 2020, Zilch has grown to over 5 million customers and is one of the UK's fastest-growing fintech companies. Unlike traditional BNPL providers, Zilch gives you a virtual Visa card you can use almost anywhere - online or in-store.
See the App
Is Zilch Safe?
Yes, Zilch is regulated by the Financial Conduct Authority (FCA). They obtained their consumer credit licence in April 2020 through the FCA's Regulatory Sandbox programme, and secured an additional payment services licence in December 2025.
Zilch uses Open Banking and soft credit checks to assess affordability, meaning applying won't affect your credit score. They were also the first BNPL provider to report payment data to all major UK credit bureaus (Experian and TransUnion), so responsible use can actually help build your credit history.
Note: Zilch is not a bank, so deposits are not protected by the FSCS. However, for a spending app where you're not storing savings, this isn't a concern.
Who is Zilch For?
Zilch is ideal for anyone who wants to spread costs interest-free without the hassle of traditional credit.
It's particularly good for: - People who want to budget larger purchases over 6 weeks - Cashback hunters - Zilch offers 2-5% cashback at many retailers - Those building credit history through responsible BNPL use - Anyone who wants a flexible payment card for online and in-store purchases
It might not be for you if: - You prefer not to use buy now, pay later services - You want a traditional bank account with savings features
Top 5 Features
1
Instant Rewards
Get cashback credited to your Zilch Rewards balance instantly when you shop at participating retailers. Rewards range from 2-5% depending on the store.
2
Pay Now or Pay Later
Choose to pay in full with no fees, or spread the cost over 6 weeks. The 'Pay Now' option is completely free and still earns cashback.
3
Universal Visa Card
Unlike other BNPL apps limited to specific stores, Zilch's virtual Visa works almost anywhere - add it to Apple Pay or Google Pay for contactless payments.
4
Credit Building
Zilch reports all payments to Experian and TransUnion, helping you build a positive credit history through responsible use of interest-free credit.
5
Smart Budgeting
The app shows your upcoming payments clearly, helping you stay on top of what you owe and when it's due.
Pros and Cons
Pros
- ✓Instant £5 free cash just for signing up
- ✓Use anywhere Visa is accepted - online and in-store
- ✓Spread costs over 6 weeks interest-free with 'Pay Later'
- ✓Cashback at hundreds of retailers (2-5%)
- ✓Builds credit history - reports to Experian and TransUnion
- ✓No hard credit check to sign up
Cons
- ✗Small fee (around £2) if you use 'Pay Later' at some retailers
- ✗BNPL model may encourage overspending if not careful
- ✗Not a bank - no savings accounts or FSCS protection
Chris's Verdict
Zilch has carved out a solid niche in the crowded BNPL space by offering something genuinely useful - a Visa card that works everywhere, not just at partner stores. With over 5 million customers and strong app ratings (4.9 on App Store, 4.8 on Google Play), they've clearly struck a chord with UK consumers.
The ability to earn cashback while using interest-free credit is a nice bonus, and the credit-building feature sets Zilch apart from competitors like Klarna. Just remember to use the 'Pay Now' option to avoid fees, and only spend what you can afford to pay back. Used responsibly, Zilch is a handy addition to your financial toolkit.
