247Moneybox is a payday lender. Our payday 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.
Our payday loans provide a solution for your occasional short-term needs. 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.
For more information please see our Responsible Lending Principles.
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Please understand that our payday loans are designed for your temporary cash flow requirements. The loans are not supposed to be used for longer term borrowing needs, nor if you are experiencing any financial difficulties. Loans that require you to provide a guarantor and that are payable over a longer period can be cheaper than our loans, so make sure to shop around if you are looking for long term financing.
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. Secondly, we may also pass your account to a debt collection agency or commence legal proceedings to recover the amount you owe Thirdly, your bank may also charge you a fee if your repayment is collected by Direct Debit and that Direct Debit fails to clear. Make sure to check if your bank charges for a failed Direct Debit under the terms of your account. Note that any such charge is not connected to us and not charged by us..
If we do not receive payment in full on your repayment day:
247Moneybox is committed to lending responsibly at all times. Our measures include:
Interest is charged by the day at 0.8% of the amount borrowed. Payday loans are available up to £800. As an example to borrow £100 for 28 days would cost £122.40.
|Interest rate||292% per annum (fixed)|
Our friendly customer services team is available between 08:30 and 18:00 Monday to Friday. Postal address: 247Moneybox 20-22 Wenlock Road, London N1 7GU Tel: 020 7183 8078. Email: firstname.lastname@example.org.
Subject to any unscheduled or scheduled system downtime we endeavour to make our website available to you round the clock. If you are applying for the first time you are able to apply whenever the website is available but we will only be able to actually process your application when we are open. If you have successfully borrowed and repaid from us before, you can login to your account online and ask for a new loan whenever the website is available. In some cases we may be able to approve you for another loan round the clock, however, in some cases we may require further checks to be made (if for example you haven't been in contact for a while). These checks are carried out during office hours.
Customer satisfaction is of utmost importance to 247Moneybox. Please do not hesitate to contact us if you are dissatisfied with our service in anyway.
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
20-22 Wenlock Road
If you have a complaint, please write to our Customer Services Department at the address set out above, e-mail us at email@example.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 do not refer your complaint in time, the Financial Ombudsman Service will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Financial Ombudsman Service believes that the delay was as a result of exceptional circumstances.
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 https://ec.europa.eu/consumers/odr/
FCA Complaints Publication Data
Firm name: Active Securities Limited
Period covered in this report: 01/04/2018 - 30/09/2018
Brands / trading names covered: 247Moneybox
Product / service grouping: Credit related
Number of complaints opened by volume of business: 50.4 per 1000 loans
Number of complaints opened: 9294
Number of complaints closed: 7846
Percentage Upheld: 3.4%
247Moneybox are fully licensed to provide short term loans.
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