Please check below for any questions you might have

Applying for a loan

Q: Who can apply?
To apply for a loan with Moneyline you must be over the age of 18, live in the UK and have a bank or post office account that accepts direct debits. All new customers must have online banking, we use this to make it easier for you to share your bank statements with us.

Also, you must not be under debt management, bankrupt or have a current IVA (Individual Voluntary Arrangement) or DRO (Debt Relief Order).

Q: Are you lending to new customers?
We want to make sure that here at Moneyline we are only lending when we are confident that someone can afford the loan now and over the whole term. To do this we are only accepting applications where the income you have coming in is least likely to have been affected by what has happened during the pandemic.
Q: What is your interest rate?
We charge 169% APR fixed.
Q: Are you a PayDay loan company?
No! We offer loans from 3 – 8 months for first-time customers.
Q: Is the process automated?
No. There are some questions that may rule you out getting a loan with us, but once we receive your application we will go through it and check your current situation. We will then arrange to talk to you to go through the application with you.
Q: How quickly will I get a decision?
Once you complete an application we will try and call you back within 24 hours to conduct a phone interview. Due to Covid 19 do not currently have branch appointments.
Q: How do I apply?

By Telephone

You must have online banking for a phone loan. Fill in the online application form and follow the instructions on what to do next. If all the paperwork is OK we will call you back to go through it with you and complete the application over the phone.

Q: How much can I borrow?
Our loans range from £100 – £1500 (up to £500 for first time customers). We base our loans on what you can afford to repay.
Q: Do you use my credit score?
No! Unlike most other lenders, we do not use your credit score to make a loan decision, but we do look at your credit information to help us understand your current situation.
Q: Why do you want 12 months of bank statements?
Due to Covid-19 we want to make sure that if your circumstances have changed that a loan is affordable for you. We can do this without having to check your credit score by using your bank statements
Q: Why do you credit check if you don’t use my credit score?
A credit check will show us information from things like other loan providers, gas and electricity companies and catalogue companies.

We carry out a credit check on applications just to make sure the information we have been given is correct and you are up to date with your current commitments.

Q: Do I need to be in work?
No. We accept benefits as a source of income.
Q: What information do you need?
We’ll need your income details (either payslips or benefits letter) and three years of address history. Also, we need details of your income and outgoings, including any current credit commitments that you have.

We will also need 2 months most recent bank statements, with the last transactions being within the last 7 days. You will need online banking to provide these.

Q: I’ve been asked to enter my online banking details, is this safe?
Yes, this is completely safe. We use Open Banking (provided by a company called oohMoolah) which speeds up the loan process.
Q: If it’s a yes, when will the money be in my account?
If it’s a ‘yes’ to a loan you should see the money in your bank account by midnight that day.


Managing your loan

Q: When do you take payments?
You can choose the best day for you. We take payments weekly, 2 weekly, 4 weekly or monthly.
Q: How do you take payments?
We will agree a date with you for the term of the loan and collect payments via Direct Debit on this date.
Q: Can I change my repayment date?
Yes, just let us know at least 3 days before your usual repayment date by calling us on 0345 643 1553 and we will change it for you. We understand that circumstances often change and we are always here to help.
Q: Can I change my repayment amount?
Yes, if you would like to increase your repayment amount to pay your loan off more quickly that’s great as it will reduce your total cost of credit. If you’re struggling with the agreed amount and need to reduce it we are always here to help and can look at this for you. If you do need to reduce your payments your cost of credit may increase.
Q: How can I check my loan balance, repayment date or other account information?
Give us a call on 0345 643 1553, Monday-Thursday between 9am-7pm and 9am-4.30pm Friday – Saturday and someone will be on hand to answer any questions you might have.

If you are just enquiring about your loan or saving balance you can call 0345 643 1553 from the mobile number you gave us when taking out your loan, enter your date of birth and you will hear your balance over the phone.

Or text your date of birth in an 8 digit number format (e.g 01012007 for 1st January 2007)  to 07860092010  from the mobile phone number you gave us when you took out the loan and we will text your balance back to you.

Q: What if I miss a loan repayment?
This may extend the term of your loan and may also increase the total cost of credit. However, like you, we don’t want this to happen.

If you find yourself in this situation give us a call on 0345 643 1553 and we can talk through the various options.

Q: What if I am struggling to keep up with my loan repayments?

First of all, don’t worry, we understand that circumstances often change and we are here to help. The important thing is to talk to us as soon as possible as we will work with you to agree an affordable repayment plan that works for you. We also may be able to offer payments breaks and interest breaks on your loan.

If you need any support with debt or money worries these advice services could help. They offer free and impartial money advice that could help with your finances.

Step Change Debt Charity – Tel: 0800 138 1111  www.stepchange.org

Money Advice Service – Tel: 0300 500 5000  www.moneyadviceservice.org.uk

Q: Can I make a one-off payment?

Yes, either call into your local branch or call us on 0345 643 1553.

You can also make a payment online with any debit card just visit www.moneyline-uk.com/make-a-payment

Q: I already have a loan with you. Can I take out another?
If you want to take out another loan with us please call us on 0345 643 1553 to chat through how we can help.
Q: Will I need to send in any extra paperwork?
Call us on 0345 643 1553 and we will advise you what you will need to provide.
Q: Can I apply for a loan over the weekend?
Yes, we offer a loan service on Saturdays and providing your loan is approved, this can be in your account by midnight that night.
Q: How do I change my bank or Debit card details?
If your bank or Debit card details have changed, give us a call on 0345 643 1553 and we will update that information for you.
Q: How can I update my contact information?
If you have moved house or have a new contact number, give us a call on 0345 643 1553and we will update that information for you.



Q: How does a Savings Account work?
We can automatically set up a savings account for you, so it is there if you have a little emergency or unexpected bill. The best way to save is to round up your repayments so the extra amount goes straight into your savings account.
For example, if you are repaying £27 every month, round it up to £30 and £3 per month will go straight into your savings. You won’t even notice it and you could have £36 extra at the end of the year!
Q: Why save?
Saving regularly you’ll quickly find that your savings add up and keep growing. You’ll get into the habit of saving and be able to watch your money turn into more money!

Next time you need some extra help for a rainy day you could use your savings.

Q: When can I access my savings?
You can access your savings whenever you like. If something unexpected pops up or you need them for an emergency your savings will be there waiting for you. It will take us up to 5 days for the money to reach your bank account.
Q: How do I withdraw my savings?
Just pop into your local branch and complete one of our savings withdrawal forms and we will transfer your savings into your bank account. or call us on 0345 643 1553.
Q: How much can I save with you?
You can save as little or as much as you want! We don’t want you to save anything you can’t afford, just as much as you’re comfortable with.
Q: Are there any interest rates on my savings?
No. The account does not currently offer any interest on your savings but it is still a useful way to keep money on one side for a rainy day.
Q: Can I carry on saving after I have paid off my loan?
Of course! We want you to keep on saving if you can.
Q: What is the Savings Reward?
We offer a 2% savings reward (subject to our terms and conditions available on request) for saving with us. So it pays to save!



Q: What is APR?
APR stands for the Annual Percentage Rate and is a standard way to show the cost of borrowing. Lenders must tell you the APR of any loan before you sign an agreement, and it will vary from lender to lender depending on the type of credit.
To work out the APR lenders must consider the interest rate, the length of the agreement, the value of the repayment and how often the repayments are and also any other charges or fees.
Q: Do weekends or bank holidays affect your service?
Yes, payments may change due to bank holidays however we will always notify you in advance if payments will be taken earlier or later than your usual date using the current contact details we have for you.
Q: How can I make a complaint?
We want to give our customers the best experience possible, so if you are dissatisfied with our service or any of our products please call us on 0345 643 153 and help us to improve in the future. Alternatively, you can email us at headoffice@moneyline-uk.com.