Have a question for us?

If debt becomes a worry there are independent organisations such as nationaldebtline.org or stepchange.org that can help.

Is 247Moneybox a lender or broker?

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.


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Is a 247Moneybox loan right for me?

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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Further information


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What are the risks of borrowing?

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:

  • You will be charged a failed collection fee of up to £15 (subject to the total amount of interest, fees and charges accrued not exceeding 100% of the amount you borrowed) if you are late in repaying your loan, on the first day after your repayment date.
  • You will also continue to be charged interest on the amount you borrowed at the rate stated in your loan agreement for each day you are late in making a repayment until the outstanding balance is repaid in full subject to the following:
    • The total amount of interest, fees and charges accrued will not exceed 100% of the amount you borrowed. This may mean that on the last day that we can charge interest, we may waive a small amount of interest;
    • If we attempt to collect your payment by Direct Debit, you may not be charged interest from when we attempt to collect payment until we are told your payment has failed to clear; and
    • In the event that we issue court proceedings against you for the amount that you owe, we may recover from you any court costs or legal fees awarded by the court.

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How do you lend responsibly?

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

  • Comprehensive credit, ID and employment checks to assess affordability
  • Prohibiting loan extensions
  • Affordable and variable loan amounts based on disposable income
  • Charging you interest on a daily basis, as opposed to monthly, so that if you do repay early you can save money
  • Be transparent, honest and open
  • Act professionally, reasonably and responsibly in all our dealings with you. We will endeavour to make sure that all our suppliers of goods and services that we do business with, do the same.
  • Make sure all our staff are trained to the highest standards, incorporating all relevant requirements, guidelines and codes set out in law and by the FCA as well as professional trade bodies such as the CFA. This is in addition to our Responsible Lending Principles.
  • Ensure you have all the information you require to make an informed and sensible borrowing decision. If at any time you require extra information please do not hesitate to contact us via the website, email or phone.
  • Address your questions and handle complaints quickly and efficiently. Our complaints procedure is clearly set out in the Questions and Answers section.
  • Consider 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 requirements for a payday loan?

You can apply for a loan if you are aged 18+, live in the UK 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 are your charges?

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.

Representative Example:

Borrow £80
Duration 29 days
Interest rate 292% per annum (fixed)
Total payable £98.56
Representative APR 1281.8%


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Can I have two loans at the same time?

We lend responsibly and this means that all prior loans have to be repaid before another can be offered, in order to ensure you can easily repay what you borrow.

Learn more


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What are your opening hours?

Our friendly customer services team is available between 08:30 and 18:00 Monday to Friday.


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Do I need to be in employment?

Yes. Part time is fine, however we are unable to accept self-employed applicants or those whose sole income is a pension or benefits.


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Do I need a bank account?

Yes, you need to have a UK bank account with a linked debit card.


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Do I need to be a homeowner?

No, we accept applications from tenants.

More details


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How can I contact you?

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: customer.services@247moneybox.com.

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.


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What personal information do I need to provide?

We require details such as your name, address, phone numbers, date of birth, income, bank account and debit card details. We take fraud very seriously and need to be sure that you are who you say you are. For full details see our privacy policy.

Read on


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Where can I find details of your privacy policy?

Our privacy policy describes how we gather, use, disclose and manage your data.


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What is your complaints procedure?

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
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 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/

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

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%


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What licences and registrations do you hold?

247Moneybox are fully licensed to provide short term loans.

  • We are authorised and regulated by the Financial Conduct Authority (listed on the Financial Services Register under registration number 673915)
  • Registered with the Information Commissioner in accordance with The Data Protection Act: Z9339538
  • Registered with Companies House in England and Wales: 05671281
  • Our registered company address: 20-22 Wenlock Road, London N1 7GU
  • Member of the CFA: 4566

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