Payday loans for your
short-term money needs

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Representative Example: Total amount of credit £80, duration of the agreement 29 days, rate of interest 292.8% per annum (fixed), total amount payable (in one repayment) £98.56. Representative 1291.8% APR.
Apply with 247Moneybox.com
Welcome to 247Moneybox.com

4.8

247Moneybox.com is rated 4.8 / 5 based on 58 reviews from the last 12 months
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Rethinking the way we access credit

Established in 2009, 247Moneybox is an innovative next-generation finance company based in central London.

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.

Lending payday loans responsibly

At 247Moneybox not only are we passionate about technology, it's what makes us tick; we’re also fully committed to responsible lending. 247Moneybox payday 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.

  • Authorised and regulated by the Financial Conduct Authority (673915)
  • Registered with the Information Commissioner’s Office Z9339538
  • Registered with Companies House in England and Wales 05671281
  • Member of the BCCA 4566
  • Telephone 020 7183 8078

See our Responsible Lending Principles

Important information

Affordability - Our loans provide a solution for your occasional short-term money needs. They are not suitable for supporting sustained borrowing over longer periods, nor if you are in financial difficulties. The cost of our loans can be higher than other types of loans, such as those requiring you to provide a guarantor, which are typically payable over a longer period, so if you do require a longer term solution there are other more suitable forms of finance available elsewhere. We use the information you provide to help us make a responsible lending decision as to whether you can afford to repay your loan without causing you any financial difficulty. See our questions section below for more information.

Continuous payment authority - Please note that we use continuous payment authorities which are not covered by bank guarantees (unlike direct debits). You are able to cancel a continuous payment authority at any time by contacting us. If you do cancel, you will still owe any outstanding debt and will need to provide an alternative method of repayment on the due date. See our questions section below for more information.

Implications of non-payment - 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 added to the amount of credit at the contractual rate on a daily basis until such time as you have repaid what you owe subject to the limits set out in loan agreement . See our questions section below for more information.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

What our customers are saying

  • "The website is easy to navigate and very informative. It is an excellent service"

    Cassandra, Birmingham

  • "Thank you very much for the loan which arrived quickly in my account..."

    Tom, Newcastle-upon-Tyne

  • "A very fast service...I would recommend 247Moneybox to friends and family"

    Ben, Catterick

  • "The website is easy to navigate and very informative...."

    Mark, Hornchurch

  • "The service is absolutely fantastic and my payday loan was very helpful..."

    Faith, London

Popular questions

Is 247Moneybox a broker or a lender?

247Moneybox is a principal lender. We use our money to fund our payday loans. Remember a payday loan provides 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.


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How do I know a 247Moneybox is loan right for me?

We have designed our payday loans to assist you to bridge your occasional short-term financial requirements. They are not suitable for supporting sustained borrowing over longer periods, nor if you are in financial difficulties. The cost of our loans is higher than other types of loans, such as those requiring you to provide a guarantor, which are payable over a longer period, so if you do require a longer term solution there are other more suitable forms of finance available elsewhere.

If money issues become a worry, there are independent organisations you can ask for advice. Visit www.nationaldebtline.org or www.stepchange.org.

For more information please see our Responsible Lending Principles.

All your details are sent over a secure SSL connection.


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What borrowing risks should I be aware of?

The aim of our payday loans is to provide you with a solution to your occasional short term money needs. They are to solve temporary cash flow problems, not for a long term fix and especially not if you already have money issues. Remember our loans will typically cost you more than other forms of credit such as a car loan or credit card. If you need finance for the longer term, please look elsewhere.

There are serious implications for missing or not making a payment. Consider in the first instance that we report loan information to credit reference agencies. Therefore, missing payments could adversely affect your credit rating. This may make it more difficult or expensive to be approved for finance in the future. Secondly, we may also send your debt to a debt collection agency or commence legal proceedings to recover the balance you owe.

If we do not receive payment in full on your repayment day, the following fees will apply:

  • A Failed Collection fee of £15 charged on the first day after your repayment date
  • Interest will continue to be added to the amount of credit at the contractual rate on a daily basis until such time as you have repaid what you owe (subject to the limit in the next paragraph).

However, interest will stop being added on the earlier of:

  • 60 days after the loan repayment date
  • 60 days after any later date we allow you to repay your outstanding balance; or
  • the Total amount of interest and charges you have accrued equalling 100% of the amount of credit.

In addition if you breach your agreement, we may also charge you reasonable legal costs and expenses in enforcing or attempting to enforce our rights. This means that the total cost of your debt will increase and cost you more to repay.

If you need to speak to an independent third party about your debt visit www.nationaldebtline.org or www.stepchange.org for advice.


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How are you a responsible lender?

247Moneybox is committed to lending responsibly at all times. Our measures include:

  • Carrying out comprehensive credit, ID and employment checks to assess affordability
  • Prohibiting loan extensions
  • Advancing affordable and variable loan amounts based on disposable income
  • Charging interest on a daily basis, as opposed to monthly, so that early repayment can save you money
  • Being transparent, honest and open with you
  • Making our terms and conditions of the loan available to you clearly up front before you make a decision about whether to borrow. Remember, the only way the cost can increase is if you don't repay your loan on the date agreed.
  • Acting professionally, reasonably and responsibly in all our interactions with you. We will endeavour to make sure that all third parties that we do business with, do the same.
  • Making sure all our staff are highly trained, incorporating all relevant requirements, guidelines and codes set out in law and by the FCA as well as professional trade bodies such as the BCCA. This is in addition to our Responsible Lending Principles.
  • Ensuring you have all the information you require to make an informed and sensible borrowing decision. Please contact us at any time if you require extra information.
  • Addressing your questions and handle complaints quickly and efficiently. Our complaints procedure is clearly set out in the Questions and Answers section.
  • Treat cases of financial difficulty in a sympathetic and positive light. For more information please see our Responsible Lending Principles.

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What are the criteria for a payday loan?

We will consider an application from you if you are aged 18 or over, a UK resident and are employed with a regular income. You also need to have a UK bank account with a valid linked debit card (prepaid cards are not permitted).


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What amount can I borrow?

We are committed to being a responsible lender. You can ask for between £80 and £200 the first time you apply for a loan, although a typical first loan is £80. If you borrow responsibly we may allow you to apply for a larger amount in the future, should you need it, up to a maximum of £800.


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How much do you charge?

Our interest is charged daily at a rate of 0.8% of the amount borrowed. Payday loans are available from £80 to £800. For example, to borrow £100 for 28 days would cost £122.40.

Representative Example: Total amount of credit £80, duration of the agreement 29 days, rate of interest 292.8% per annum (fixed), total amount payable (in one repayment) £98.56. Representative 1291.8% APR.


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How quick can you transfer my payday loan?

If we approve your application before 3pm we will send the instruction to fund to our bank on the same day. If your application is approved after 3pm we will send funding instructions to our bank on the next working day.

Important information: Funding instructions are only sent to our bank/payment provider once your application has been approved and on the date(s) stated in your loan agreement, NOT from the time you apply. As a responsible lender we have a number of checks to carry out we can approve your application including, in some instances, a discreet call to your employer. Once we have instructed our bank/payment provider to fund your account then the rest is down to their network regarding the actual time it takes for the funds to be credited your account. This can take up to 3 working days. As you can appreciate this is out of our control. We have every confidence in our systems and processes, however if you feel we have missed our time commitment then let us know.

Our website is available 24/7, subject to any unscheduled or scheduled system downtime. If you are a new customer you can apply for a loan over the same time period however, we are only able to process your application during business hours. If you are a returning customer, you can login to your online account and request a new loan 24/7. In some cases we may be able to process and approve your application for another loan 24/7, however, as a responsible lender we may need to carry out further checks, for example if we haven’t heard from you for a while. We carry out these further checks during business hours.


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Will you extend my loan?

As a responsible lender we will NOT allow you to "roll-over" your loan to your next payday by paying the interest accrued to date. Our loans provide a solution for your occasional short-term needs. They are not suitable for supporting sustained borrowing over longer periods, nor if you have any financial stress. if you require a longer term solution there are other more suitable forms of credit available elsewhere. If money issues become a worry, there are independent organisations such as www.nationaldebtline.org or www.stepchange.org you can ask for advice.


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What are your contact details?

Call our friendly customer services team between 08:30 and 18:00 Monday to Friday. Or write to us at: 247Moneybox 20-22 Wenlock Road, London N1 7GU Tel: 020 7183 8078. Email: customer.services@247moneybox.com.

We always aim to make our website available to you 24/7. As you would expect this is subject to any unscheduled or scheduled system downtime. If you are a first-time customer you can apply for a loan over the same time period however, we are only able to process your application during business hours. If you are a returning customer, you can login to your online account and request a new loan 24/7. In some instances we may be able to process and approve your application for further credit 24/7, however, as a responsible lender we may need to conduct further checks, for example if we haven’t seen you in a while. We carry out these further checks during working hours.


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How do I complain?

Customer satisfaction is of utmost importance to 247Moneybox. If you are dissatisfied with our service in any way please do not hesitate to contact us.

We hope that it never comes to this, however should you wish to make a formal complaint in writing, please address your letter to:

Customer Services Department
247Moneybox
20-22 Wenlock Road
London
N1 7GU

If you have a complaint, please write to our Customer Services Department at the address set out above, e-mail us at customer.services@247moneybox.com or phone 020 7183 8078.

Upon receipt of your complaint we will do our best to resolve your complaint by the end of the next business day.

If we can't do this, we will send you a prompt written acknowledgement of your complaint within 5 working days and tell you who is dealing with it. In addition, we will provide you with a copy of our complaints procedure.

If we need to investigate your complaint further to respond fully, we will tell you and keep you regularly updated.

We will send you our final response as soon as possible but within eight weeks of receiving your complaint. Our final response will explain that you will have ultimate recourse to the Financial Ombudsman Service if you remain dissatisfied. We will enclose a leaflet (or provide a link to information) from the Financial Ombudsman Service with our final response to assist you if you decide to pursue this further course of action. If looking to do so, you will need to contact the Financial Ombudsman Service within six months of receiving our final response.

If you want to make a complaint to our trade association (BCCA), their contact details can be found at the end of this procedure. Our trade association will liaise with us to ensure your complaint is investigated fully and a response is sent out to you.

You are also able to use the European Commission's Online Dispute Resolution platform (ODR) which allows you to make a complaint about online purchases through the platform. This platform may be used to facilitate resolution of disputes and sits alongside our existing complaints procedure. For more information visit http://ec.europa.eu/consumers/odr/

The Financial Ombudsman Service
Exchange Tower
Harbour Exchange Square
London
E14 9SR
website: www.financialombudsman.org.uk
email: complaint.info@financialombudsman.org.uk
tel: 0845 080 1800

The Chief Executive
BCCA
Suite 7
Station House
Central Way
Warrington
WA2 7FW
website: www.bcca.co.uk
email: info@bcca.co.uk
tel: 01925 737 100


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How long?

 days

Borrow £ over days, total repayable £