Score of 82.27/100 qualifies for PaymentCheck Certification
Chetwood Financial Limited demonstrates a generally prompt payment profile, with an average payment time of 19 days and 88% of invoices settled within 30 days. However, the 24% late payment rate signals a notable inconsistency between typical payment speed and actual compliance with agreed terms, suggesting that while most payments are processed quickly, a meaningful subset experience delays. The 3% of payments exceeding 60 days, though relatively small, indicates occasional significant holdups that suppliers should factor into cash flow planning.
The gap between the strong 19-day average and the 24% late payment rate points to an uneven payment process, where a reliable core of timely payments coexists with a recurring pattern of missed terms. The 9% of invoices falling in the 31–60 day band adds a moderate-risk tier that suppliers cannot dismiss, as nearly one in ten invoices will extend beyond standard terms. This variability reduces overall predictability, making it difficult for suppliers to rely solely on the average figure when managing receivables.
Chetwood Financial Limited presents a moderate-risk payment profile: broadly acceptable in speed but carrying a lateness rate of 24% that warrants attention from suppliers with tight liquidity requirements. Suppliers should consider building buffer time into payment expectations and may benefit from implementing clear follow-up protocols at the 30-day mark. Setting shorter net payment terms in contracts — such as net 14 or net 21 — could help align actual payment behavior more closely with agreed conditions and reduce exposure to late receipts.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Oct 2025 - 31 Mar 2026 | 29 Apr 2026 | 19 | 88% | 9% | 3% | 24% |
| 01 Apr 2025 - 30 Sept 2025 | 28 Oct 2025 | 26 | 90% | 10% | 0% | 27% |
| 01 Oct 2024 - 31 Mar 2025 | 30 Apr 2025 | 31 | 72% | 18% | 10% | 35% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 30 days from the date of the invoice and our maximum contractual payment is 30 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Where any invoices sent for payment are subsequently disputed, either on the supplier side or the company side, they will be returned to the business for escalation and resolution within the business area.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Chetwood Financial Limited, registered in England and Wales, is now trading as Chetwood Bank. It is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA as a bank. Its other trading names include ModaMortgages, SmartSave, BetterBorrow and LiveLend, through which it offers banking, savings and lending products. The company is registered with the Information Commissioner's Office and is a member of CIFAS, the UK fraud prevention service. Its registered office is in Wrexham, Wales. The business operates as a retail bank, providing personal banking and mortgage-related financial products under these various trading names, rather than under the Chetwood Financial name itself.
Generated from the company's website and Companies House records. Sources: chetwood.co