Activating Overdraft takes just a few minutes. If you're eligible, you'll see an Overdraft offer in the app with your pre-approved limit. Just activate it.
Who can get Overdraft
To get Overdraft, you need to:
Be an existing Finom customer on a paid plan (Basic and above)
Be the account owner with sole legal representative rights. Only the account owner can activate Overdraft
Not have an active Finom Credit Line
Finom checks eligibility in the background, so there's nothing to fill in or send us.
Where to find your offer
If you're eligible, you'll see an Overdraft offer in the app/on web with the limit that's been pre-approved for you.
On the web, you can check if you have the offer in the “Accounts” section in the left-side menu.
In the mobile app, you can check if the offer is available in the “Accounts” section.
If you don't see an offer, you may not be eligible right now. We check again from time to time, so it may appear later.
If you're a freelancer in Germany, we may ask you to upload proof of your business registration before you can continue. Once we approve your documents, you can pick up where you left off.
Two ways to activate
There are two activation flows. Finom decides which one applies to you, mainly based on the size of your limit. This may change over time.
Basic flow
Your pre-offer amount is the final offer. You'll see your offer and accept the terms. That's it, there are not additional checks.
Full flow
A check with a credit bureau, which needs your consent
A check of external data sources
These checks may take a little longer. You can safely close the screen and we will notify you on the result
With the Full flow, your request may be recorded with the credit bureau and can affect your score. We'll always ask for your consent first.
How to activate Overdraft
Log in to your Finom account via the app or web platform.
On the web:
1. Find the Overdraft offer in the Accounts section
2. Click on “Activate”
3. Review the product details and tap “Continue”
4. The checks for your flow run. If you're asked for consent to the credit bureau check, confirm it to continue.
5. You'll see your final limit and your interest rate.
6. Accept the terms by ticking on a box and clicking on “Activate overdraft”
Mobile app:
1. Find the overdraft offer in the “Accounts” tab and click on it
2. Review the offer details and tap “Continue”
3. The checks for your flow run. If you're asked for consent to the credit bureau check, confirm it to continue.
4. You'll see your final limit and your interest rate.
5. Accept the terms by ticking on a box and clicking on “Activate overdraft”
Your overdraft is now active!
We never switch on overdraft without your confirmation. You always see your limit and your rate before you accept.
After you activate
Coverage starts straight away. If a payment takes your balance below €0, Overdraft covers it automatically, up to your limit.
Your spending cap is set to your full limit by default. You can change it at any time in Settings. For more, see How do I manage my Overdraft?
If you'd like a higher limit, you may be able to ask for one later.
On both the web & mobile app, access your overdraft from “Accounts”
Mobile app: find “Manage overdraft” and then click on “Approved limit”.
Web: click on “Overdaft” and then on “Approved limit”
If we are ready to offer you an increased limit, you will see the option Increase limit, where you can connect accounts from other banks so we can see more of your activity.
I can't see or activate Overdraft
Check the following:
You're on a paid plan (Basic and above).
You're logged in as the account owner with sole legal representative rights.
You don't have an active Finom Credit Line.
If you're a freelancer in Germany, your business registration documents have been uploaded and approved.
If all of this applies and you still can't see an offer, you may not be eligible at the moment. We check again from time to time. If you have questions, chat with our team via Get help → Contact us.