How do I change my finance rates?
Last updated July 4, 2025
You can change which finance rates you offer directly from your Kanda dashboard — but it’s important to understand how this works and why some rules are in place due to FCA regulations.
🛠️ How to Change Your Finance Rates
- In your dashboard, click on “My Kanda” (top-right corner)
- Select “Finance Rates”, choose the rates you want to offer and save to confirm your selection
IMPORTANT: Once you make a change, the new rates will be locked for 1 month.
🔒 Why are the rates locked for a month?
This isn’t a bug — it’s a legal compliance rule set by the Financial Conduct Authority (FCA).
Here’s what the FCA mandates:
- You must present customers with a fair and consistent set of options
- All customers must see the same finance options — this prevents discrimination
- You’re not allowed to recommend or steer a customer toward or away from a specific rate, they must be able to choose freely
- That’s why rates can only be changed at the account level (not per job), and why they lock for 1 month after each update
This rule prevents selective pricing and ensures that all customers are treated equally. Changing your rates too often or offering different rates to different customers could result in an FCA violation — and may lead to your account being suspended.
⚠️ Another FCA Rule: No “Finance Uplift” Charges
You cannot charge more for a job just because the customer is paying with finance.
For example, this is not allowed:
- Standard Job total: £10,000 + Finance fee: 10% = Customer pays: £11,000 ❌
This would be considered discriminatory pricing under FCA regulations.
That said, you are allowed to charge whatever you like for your services!
The best approach is to price your work with the worst-case scenario in mind:
“What’s the highest finance fee I might pay based on the rates I offer?”
Set your pricing to cover that scenario, so you always stay profitable — whether the customer chooses finance or not.
✅ What if I don’t want to offer certain rates?
You’re in full control — if there are specific rates you don’t want to offer (e.g. because the fee attached is too high), you can simply turn them off from your account. Our existing guardrails make sure that:
- Those rates are made available to all customers
- You don’t enable or disable rates per job
- Customers can choose between all rates available
❗ Made a mistake?
If you selected the wrong rates and need to change them urgently, we can manually override as a one time exception.
Please contact our support team:
- 📧 help@kanda.co.uk
- 📞 0330 818 7500