Help Centre

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Questions about loans taken online

Applying For A Loan
Finding The Right Loan
Can I apply for a short term loan?

To apply for a loan with us you need to be:

Be over 18 years old

Be in permanent employment

Receive more than £417 net per month

Have a bank account with a valid debit card

Meet our credit criteria and affordability assessment

Click here to apply online.

Please note all loans are subject to lending criteria, a credit check and an affordability assessment.

How much can I borrow?

With The Money Shop, you could be approved for a loan amount between £100 and £2,000. Please note that all loans are subject to lending criteria, a credit check and an affordability assessment.

Click here to apply online.

How will I know which loan term is most suitable for me?

We will assess your affordability and present you with your available offers. Only you can decide which loan duration is most suited to your financial needs; we will ensure you are only offered options based upon our affordability assessments.

Click here to apply online.

How much does a loan cost?

The cost of your loan will be dependent on the amount that you borrow and how long you would like it for. Our interest is charged at a daily rate.

Representative Example: £350 borrowed for 6 months. Annual interest rate of 179% (fixed). Total amount repayable is £516.90 in 6 monthly instalments of £86.15. Representative 450% APR.

We do not have any other fees and no hidden costs.

Click here to go to our online application page which shows an example of how much a typical loan costs.

Getting Your Money
How do I apply for a loan and what information do I need to start?

To apply for a loan now, please click here and follow the instructions.

When filling in our online application form you will need the following information:

  • Your name and address
  • Your date of birth
  • Your contact telephone numbers and email
  • Your employment and/or regular income details
  • Your monthly expenditure information
  • Your bank account and debit card details

How do I get my documents to you?

You can submit your documents to us by logging in online. Once you are logged in to the online Account Management area, you will be able to view the documents that are required to support your application.

Once these have been received by our customer validation department, they will be processed on a first come first served basis.

We will contact you by email once these have been processed.

How long does it take to get money into my account?

If you are applying for a loan online then the majority of our customers will get their money transferred on the day they apply. We deposit on the hour every day, throughout the day.

New customers must complete their applications before 3pm for a same day deposit.

Click here to apply online.

All loans are subject to lending criteria, a credit check and an affordability assessment.

Why might my loan application be rejected?

All of our loans are subject to lending criteria, a credit check and an affordability assessment. Sometimes, as part of these checks applications are rejected.

If you would like more information about your credit file, you can contact one of the following credit reference agencies:

http://www.experian.co.uk/

http://www.callcredit.co.uk/

Credit Related Queries
Do you do credit checks?

Yes, we credit check all of our customers in order to ensure we lend to you responsibly. If you have any further queries regarding your credit file you can contact Experien or Call Credit using the below contact details.

http://www.experian.co.uk/

http://www.callcredit.co.uk/

Can I apply if I have bad credit?

All loans are subject to lending criteria, a credit check and an affordability assessment. We look at each application based upon your recent circumstances.

If you are concerned about your credit report below are some credit reference agencies that you can contact or review your credit file with.

http://www.experian.co.uk/

http://www.callcredit.co.uk/

Please remember that free, impartial debt advice is available to you. Below are some debt advice organisations that specialize in assisting customers who are in financial difficulty.

Citizens Advice www.adviceguide.org.uk Please visit their website to find contact details for your local bureau
National Debtline www.nationaldebtline.co.uk 0808 808 4000
Step Change www.stepchange.org 0800 138 1111

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

Repaying A Loan
Paying For Your Loan
How do I make a payment?

We usually take payment automatically from your debit card you provided when you applied.  If you have a new debit card then please contact us on 0800 009 3565 and we will be able to update this information for you. If you no longer have a debit card, you can also call us to make alternative arrangements to pay us back.

What payments can I make early?

You can make a payment early at any time by logging into your online account by clicking here.

Do I pay less if I settle my balance early?

Yes, we charge interest by the day so if you want to settle your loan early you will only pay interest on the amount of days you have the loan for.

You can make a payment early at any time by logging into your online account by clicking here.

When might I be contacted by you?

We may try and contact you whilst your loan is outstanding. This is to ensure we have the right information for your repayment and that you are still in the position to make your payment on the scheduled due date, or if you go into arrears.

Changes In Circumstances
Can I change my repayment date?

If you need to change your repayment date, please call us on 0800 009 3565.

What happens if I cannot afford to pay you?

We understand that your personal and financial circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help.

If you are having problems making a payment please contact us on 0800 009 3565 and we can discuss your payment options.

Please remember that free, impartial debt advice is available to you. Below are some debt advice organisations that specialize in assisting customers who are in financial difficulty.

Citizens Advice www.citizensadvice.org.uk. Please visit their website to find contact details for your local bureau
National Debtline www.nationaldebtline.org 0808 808 4000
Step Change www.stepchange.org 0800 138 1111

Changing Your Details
How do I update my contact details?

If you wish to update your contact details with us, you can log into your Account Management area. Its really simple to use, just click on 'Update Details' at the top of the page and you will be able to update your information.

Please click here to go to our login page.

How do I update my payment details?

If you would like to update your payment details please call us on 0800 009 3565.

My surname has changed - what do I do?

We may require supporting documents (e.g. Deed poll certificate or marriage certificate) as proof of your name change.

My pay day has changed, how do I update this?

We only need to update your new pay day if you are applying for a new loan with us or you would like us to change the date we take your repayments.

Other General Questions
Help Logging In
How do I log in?

Please ensure that when logging in you use the email address you registered with us, your date of birth should be in the following format dd/mm/yyyy and then the password you used previously. This must include a capital letter, a number and be a minimum of 8 characters in length. If you have forgotten your password you can recover your forgotten password by clicking here.

Why can't I login?

There can be a number of reasons why you are unable to login to your online account.

Please ensure that when logging in you use the email address you registered with us, your date of birth is in the following format dd/mm/yyyy and the password you used previously.

The password must:

- Include a capital letter
- Include a number
- Be a minimum of 8 characters in length

If you have forgotten your password you can recover your forgotten password by clicking here or calling us on 0800 009 3565. If that still doesn't work then please click here to connect with one of our customer service representatives. Our opening hours are Monday to Friday 8am until 7pm and 9am until 4pm on Saturdays.

Refund Exercise
What is the refund exercise?

We have recently undertaken a review of our procedures for issuing loan agreements following the introduction of new rules governing consumer credit.

It means that for some customers we may have lent them more than they could afford. Where this is the case, we are making the ‘unaffordable’ portion of their loan(s) interest free.

As part of our review we identified a problem within our administration system where, for some customers between 1st January 2013 and 1st April 2015 we may have charged additional default fees and interest on those fees in error.

How will I know if I am affected by the refund exercise and what should I do next?

We are currently writing to customers who have been affected by the changes in lending regulations with details of their refund. This process is still underway and so it is possible that your refund letter has not been sent yet. Please be assured that we are working hard to get this to you as quickly as we can.

If you would like to contact us, our teams are on hand to answer any questions you may have. You can email the team handling this directly at CET@dfconline.com.

Other
What if I change my mind about my loan application or received loan?

Please click here to use our Live Chat facility and one of our agents will be able to cancel your application for you.

If you have already received your loan and executed agreement and would like to withdraw, you can do so up to 14 days after you have received your agreement. You will need to repay the principal amount we lent you plus any interest you have accrued to date.

Please click here to speak to one of our Live Chat advisors who will be able to take the payment to cancel your loan for you or call us on 0800 009 3565.

How do I find my reference number?

Your reference number can be found on your original executed loan agreement, sent via email after your funds have been deposited.

If you still cannot locate your agreement number then please click here for loans taken online to use our Live Chat facility, one of our agents will be happy to help. Alternatively please call us on 0800 009 3565.

My question still isn't answered

If you cannot find the answer to your question in our Help Centre, then please either please call us on 0800 009 3565 or email us at account.services@themoneyshop.com. One of our customer service representatives will be happy to answer your questions.

How do I make a complaint?

If you would like to make a complaint please visit our complaints handling page.