1 These terms and conditions form part of and are incorporated into this Agreement.
2 You confirm that the electronic signature which you have used to enter into this Agreement is valid. By using that signature, you agree to be bound by this Agreement (including these terms and conditions). You agree that you and we may communicate with each other by electronic means in connection with this Agreement.
3 You confirm that the information you have provided relating to this Agreement is true and accurate. You must notify us immediately of any change to the details specified in your application form. We shall be entitled to vary this Agreement at any time in such manner as may be necessary to correct any inaccuracies in any information contained in this Agreement (including information which has become inaccurate since this Agreement was signed by both you and us), provided that the variation does not materially affect this Agreement. We will notify you in writing of the amendments which will be made to this Agreement and the date that the variation will take effect.
4 You confirm that you:
(a) are 18 years or over;
(b) are in employed work, not self-employed, you are not on unpaid leave, sick leave, maternity or paternity leave, and you are not aware of any reason which may cause your employment to be terminated prior to the expiry of the Duration of the Agreement;
(c) are not an undischarged bankrupt or aware of any person (including yourself) applying for your bankruptcy, and you have not entered and are not in the process of entering into a debt management plan (DMP) or Individual Voluntary Arrangement (IVA).
5 We agree to provide you with the Amount of Credit stated above. We will transfer the Amount of Credit to you on the date of this Agreement but please allow up to three working days for this to be paid into your nominated bank account due to delays caused by the banking system which are outside of our control.
6 You agree to pay to us the Total Amount Payable by the end of the Duration of the Agreement. Please ensure that there are sufficient funds available on this date in the account that you have requested we take the repayment from.
7 The Total Amount Payable is based on the Amount of Credit being borrowed for the Duration of the Agreement and the Total Amount Payable being repaid in full at the end of that period. If you do not repay in full at the end of this period, the total amount you repay will be different.
8 We will pay the Amount of Credit into the bank account which you told us about in your application. You confirm that your salary is paid into that account and that your salary will be paid into that account on the repayment date set out above. Where you have notified us that you wish to withdraw from the agreement, you will ensure that there is enough money available in the account that you have requested we take the repayment from to repay the Amount of Credit plus interest as specified above, on the agreed date.
9 If we have allowed you to extend your loan, you will ensure that there is enough money available on your new repayment date in the account that you have requested we take the repayment from, to pay us the outstanding balance (which includes any interest and charges that are payable).
10 Repayments will be made by debit card. The debit card you have notified to us for repayment of the loan will be electronically debited on the repayment date specified above, for the amount of the repayment due together with any applicable charges. If you repay some or all of the outstanding balance early, your debit card will be electronically debited for the amount you specify through your online account.
11 If we are unsuccessful in collecting any payment from the primary debit card you have registered with us, we may seek payment from any further debit card which you have provided the details of for the purpose of repayment. We may attempt to take payment on multiple occasions on the repayment date and in different denominations until the full amount of the payment due has been collected.
If we are unable to take the entire amount of the repayment that is owed on the repayment date, we may try again to take the payment after the repayment date. We may make several attempts to take payment and/or in different denominations on these dates.
Before we take a payment on a day other than the repayment date, we will notify you by text message that your payment has failed (unless you have requested not to receive such notifications) and that we will continue to seek payment of the amount of the payment or a lesser amount on the date specified.
12 If you fail to pay any repayment due under this Agreement in full on its due date then we may require you to pay us the interest and charges set out above.
13 This agreement is unsecured.
14 If any of the following occurs then we may, after giving you 14 days' notice in writing requiring you to correct the default (where possible), end this Agreement:
(a) if you fail to pay any amount due to us on its due date;
(b) if we become aware that you have behaved fraudulently or that any information provided by you before entering into this Agreement is false in a material respect or you have failed to comply with clause 3;
(c) if you are declared bankrupt, enter into a DMP or IVA.
If we end this Agreement on this basis then we will require you immediately to pay any outstanding balance and all charges due under this Agreement (less any rebate to which you may be entitled in accordance with the Consumer Credit Act 1974).15 Our right to recover any unpaid sums (including any charges that we require you to pay on such sums under clause 12) will continue to apply following the termination of this Agreement.
16 If you are struggling to repay the Total Amount Payable on its due date, please log on to the "Extend my Loan" page in your 24/7 Moneybox account or contact us. We may, in our sole discretion, grant you an extension to your loan. This extension will be conditional upon you paying an extension fee of £10 and any interest on the Amount of Credit which is outstanding.
17 If at any time you repay any amount less than the full balance outstanding, this will be applied first towards outstanding interest and then to reduce the Amount of Credit which is outstanding before being applied towards any charges due to us and finally to any third party such as a collections agency. To avoid any confusion, if you make a request to repay the full Amount of Credit which is outstanding, we will assume that you also wish to repay the full amount of any outstanding interest and charges due and we will debit your account for the total aggregate amount.
18 We shall not be responsible for any costs, losses or expenses you may incur as a result of us failing to provide you with a loan or as a result of us collecting or attempting to collect payments from you which are due under this agreement.
19 If you have a complaint, please write to our Customer Services Department at the address set out above or e-mail us at customer.services@247moneybox.com. We will do our best to resolve your complaint by the end of the business day following receipt of your complaint. If we can't do this, we will send you a prompt written acknowledgement of your complaint and tell you who is dealing with it.
We will send you our full response within four weeks of receiving your complaint. We will include details of how, if you are dissatisfied with the way we have handled your complaint, you can go to stage 2 of the procedure by referring your complaint to the BCCA which is our Trade Association and acts on our behalf. Our letter will explain that you will have ultimate recourse to the Financial Ombudsman Service (FOS) if you remain dissatisfied after stage 2 referral - also that we will regard the complaint as closed if the BCCA does not receive a reply from you within eight weeks of our full response.
The BCCA will investigate your complaint and will provide you with a final response within four weeks of receiving notification of your continuing dissatisfaction.
If you are dissatisfied with the final response from the BCCA, you can ask the Financial Ombudsman Service for an independent review. The BCCA will enclose a leaflet from the Financial Ombudsman Service in their final response letter to assist you if you decide to pursue this further course of action. You should contact the Financial Ombudsman Service within six months of receiving the final response from the BCCA.
The contact details for the BCCA and FOS are set out below:
Chief Executive
BCCA
Portal Business Centre
Dallam Court
Dallam Lane
Warrington
WA2 7LT
email: info@bcca.co.uk
phone: 01925 426090
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR
website: www.financial-ombudsman.org.uk
email: complaint.info@financial-ombudsman.org.uk
phone: 0845 080 1800
20 We are registered at Companies House under company registration number 05671281 and are authorised by the Office of Fair Trading and hold a Consumer Credit Licence in accordance with the Consumer Credit Act 1974, with Consumer Credit Licence Number 622332. We are also members of the BCCA with membership number 4566.
21 If any provision of this Agreement (or part of any provision) is found by any court or other authority of competent jurisdiction to be invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed not to form part of the agreement, and the validity and enforceability of the other provisions of the agreement shall not be affected. Any such provision (or part-provision) found illegal, invalid or unenforceable, shall apply with the minimum modification necessary to make it legal, valid and enforceable.
22 Subject to clause 3, no variation of this agreement shall be effective unless it is in writing and signed by the parties (or their authorised representatives).
23 Any notice or other communication required to be given under this Agreement shall be in writing and shall be delivered personally, sent by email or pre-paid first-class post or recorded delivery to the other party at the addresses specified above, and, for email communications to you, to the email address set out in your application form, or such address as otherwise specified by the other party by notice in writing.
24 Any notice or other communication shall be deemed to have been duly received:
(a) if delivered personally, when left at the address and for the contact referred to in clause 23; or
(b) if sent by pre-paid first-class post or recorded delivery, at 9.00 am on the second working day after posting; or
(c) if sent by email, at the time of transmission.
25 The provisions of clause 23 and clause 24 shall not apply to the service of any proceedings or other documents in any legal action.
26 If we do not enforce our rights under this Agreement at any time we will not be prevented from doing so later.
27 Before entering into this Agreement, and in the future, we may search your records at credit reference agencies. They will add to their record about you details of our search which will be seen by other organisations making searches. Details about you and your payment record under this Agreement will be used to help make credit and insurance related decisions about you and members of your household and occasionally for fraud prevention or to trace debtors. You can contact us for details of the credit reference agencies used by us. You have a legal right to these details and can receive a copy of the information held about you on payment of a fee. Information held about you by credit reference agencies may be linked to records relating to any person with whom you are linked financially and other members of your household. We may give information about you and your payment record under this Agreement to credit reference agencies, fraud prevention agencies, debt collecting agents and any proposed assignee, transferee or chargee of this Agreement or of our interest in this Agreement, their insurers or advisers. You agree to us verifying your creditworthiness both now and in the future. We may use a credit scoring or other automated decision-making system.
28 We may monitor and record telephone calls for the purpose of security and training.
29 Except as set out in clause 27 above, our privacy policy sets out our rights and obligations with regard to our use of your personal information.
30 In addition to the above, you grant us permission to contact your employer, the details of which are named in your application, at any time as may be reasonably required by us to verify any of the information provided by you in relation to the loan.
31 This Agreement is personal to you and you may not pass the benefit of it to a third party. We may transfer to another person or company all or any of our rights or obligations under this Agreement.
32 This Agreement and the pre-contract information are available in English. Unless you and we otherwise agree, you and we shall communicate with each other in English at all times in connection with this Agreement.
33 The law of England and Wales governs this Agreement and any aspect of our relationship with you, and any disputes or claims under this Agreement will be dealt with only by the courts of England and Wales.