Established in 2009, 247Moneybox is an innovative next-generation finance company based in central London. Since 2012 we've taken our online lending operation overseas, redefining and reframing the way we access credit.
Our goal is simple; we want to provide a more flexible and convenient way to solve short-term money needs. A 'one size fits all' model that some more traditional credit providers take can be frustrating. That’s why we take a different approach and make the entire process as clear and transparent as possible.
At 247Moneybox not only are we passionate about technology, it's what makes us tick; we’re also fully committed to responsible lending. 247Moneybox loans are not designed for long-term borrowing or keeping you in debt, but instead are to be repaid in the short-term. If you need to borrow over a longer period there are other, more suitable forms of credit available. Our service is designed to put you in control of your cash flow, for the times when an unexpected bill arrives.
For more information please download our Responsible Lending Principles. This is in addition to our commitment to the industry Good Practice Customer Charter and Addendum.
As we report loan information to credit reference agencies, missing payments could adversely affect your credit rating. This may make it more difficult or expensive to obtain credit in the future. We may also pass your account to a debt collection agency or commence legal proceedings to recover the amount you owe. Interest will continue to be charged from the first day that your loan is outstanding until the loan is repaid at the rate of interest set out in the loan agreement. The loan agreement also sets out the fees that will be added to the amount you owe if we are unable to collect the amount due. See our questions section below for more information including our policy on extending a loan.
247Moneybox is a lender. Our loans provide a solution for your occasional short term cash needs. They are not suitable for supporting borrowing over longer periods. If longer term solutions are required, there are other more suitable forms of finance available elsewhere.
If we are unable to approve your loan application we may be able to find a third party lender who can help. These lenders may undertake credit reference/fraud prevention agency data searches against you to make lending decisions and for the prevention of fraud and money laundering.
Our loans provide a solution for your occasional short term cash needs. They are not suitable for supporting borrowing over longer periods. If longer term solutions are required, there are other more suitable forms of finance available elsewhere.
247Moneybox is committed to lending responsibly. It is important for you to be able to repay your loan on your next pay date.
If debt becomes a worry there are independent organisations you can ask for advice. Visit www.nationaldebtline.co.uk or www.cccs.co.uk.
For more information please download our Responsible Lending Principles.
Please see also the Good Practice Customer Charter and Addendum.
The Charter was produced by our trade body the BCCA, the Consumer Finance Association, the Consumer Credit Trade Association and the Finance and Leasing Association. The Charter gives customers enhanced protection when taking out a payday or short term loan.
All your details are sent over a secure SSL connection.
Our loans provide a solution for your occasional short term cash needs. Before applying for a loan please consider if it is suitable for your situation. There are implications for missing or not making a payment. Firstly, as we report loan information to credit reference agencies, missing payments could adversely affect your credit rating. This may make it more difficult or expensive to obtain credit in the future. We may also pass your account to a debt collection agency or commence legal proceedings to recover the amount you owe. Interest will continue to be charged from the first day that your loan is outstanding until the loan is repaid at the rate of interest set out in the loan agreement. If we can't collect payment from your debit card on your repayment day, the following fees will apply:
We may also charge you the following fees if you breach your agreement:
247Moneybox is committed to lending responsibly at all times. Our measures include:
Our fee structure is straightforward and set out below.
Loans are available from £80 to £800. As an example, to borrow £100 for 28 days without opting for Fast Process would cost £133.76.
Representative Example: Total amount of credit £200.00, debit card validation fee £0.12, duration of agreement 28 days, rate of interest (also charged on Fast Process Fee if selected) 438% per annum fixed, total amount payable £267.32 in one payment of £267.20 plus the £0.12 debit card validation fee. Representative APR 4301.9%APR
We usually require full repayment of your loan on your next pay date, however it may be possible to request an extension of your loan to your following pay date. Please bear in mind that a loan from 247Moneybox is not suitable for long term borrowing and extending your loan will always cost you more. If you require a longer term solution there are other more suitable forms of finance available elsewhere. To extend your loan requires you to make a part loan repayment and pay any interest charged on your loan along with a £10 extension fee on the date your loan is due for repayment. Interest will continue to accrue on your outstanding loan at the same previous rate until your following pay date. If debt becomes a worry there are independent organisations you can ask for advice. Visit www.nationaldebtline.co.uk or www.cccs.co.uk for advice.
