Updraft is an app that aims to help young people manage their money better. Like a number of new finance apps, it uses open banking to show you all your accounts in one place. It also offers free visibility if your credit report and credit score.
When it looks like you’re paying more than you need to on overdrafts or credit cards, Updraft aims to step in by offering you “Updraft Credit” – consumer loans designed to replace traditional bank overdrafts and credit cards.
UK consumers are charged over £3bn in overdraft fees each year, and almost half the adult population have overdrawn on their account in the last 12 months.