Compare Anna and Cashplus

How do Anna and Cashplus compare?

Anna and Cashplus are two popular digital banking platforms that offer a range of services and facilities to their customers.

Anna, short for Absolutely No Nonsense Admin, is a business banking app launched by the creators of Travelex, specifically tailored for freelancers and small businesses. The key feature that sets Anna apart is its efficient invoicing and admin support, provided through a combination of artificial intelligence and human assistance. The app has the ability to send out automatic payment reminders, create and send invoices, and it even categorises your expenses, making tax returns easier. Anna offers unlimited transactions without charges, and provides immediate notifications on payments. It hosts a 24/7 customer service and has monthly plans starting from £0 to £11 depending upon the monthly income, with the first three months free.

On the other hand, Cashplus is a digital banking service catering to both personal and business banking needs. It provides various services like current accounts, prepaid cards and unsecured loans. Cashplus particularly stands out with its offering of an instant online current account, with a sort code, account number and banking app all set up in minutes without any credit checks, making it an attractive option for those with poor credit histories. It also offers the unique feature of CreditBuilder, where customers can improve credit scores by simply using the prepaid card. Higher transaction and ATM withdrawal fees compared to traditional banks, and the lack of a free account option may be downsides to consider for some users.

While both mobile banks offer robust features, deciding between the two depends on individual user needs. If you're self-employed or running a small business requiring active invoicing and admin support, Anna could be the better option. On the other hand, for users seeking an easy-to-set-up personal banking account with a credit-building feature, Cashplus would be more apt.