FAQ's
CCD FAQ's
The Moneyway CCD test is aimed at all customer facing staff who are involved in the process of completing and signing customer finance agreements as an agent and on behalf of Moneyway in accordance with, and subject to, the terms and conditions (as laid out in the latest Operating Agreement). All users will need to be set up on the system with their own individual login, including the administrator. The process is described in the recent communication sent by Moneyway. If you are in any doubt, please contact the helpline on 0330 3030 091.
The new Consumer Credit Directive legislation contains a number of significant changes intended to deliver a single market for consumer credit across EU member states. The new rules are intended to harmonise the protection offered to consumer credit customers and increase the transparency of the consumer credit industry. The legislation requires Moneyway to confirm that all our Introducers have achieved a level of knowledge to ensure compliance to the new legislation.
Please do not worry about the CCD test. You will learn all you need to know from the training modules to enable you to pass to the required standard. The questions are based on the Consumer Credit Directive legislation and regulation surrounding the sale of finance agreements under the Consumer Credit Act and Data Protection Act. If you would like to know more about these Acts please visit www.legislation.gov.uk for further information..
Firstly, view the Moneyway training modules, after completing the set up and login as described in the recent communication from Moneyway. The modules are available on the Redline system.
- Click on the ‘Training’ tab on the left hand side of the screen. You will be offered the training modules relevant to your business. The modules cover:
- an introduction to CCD
- the new compliant documentation pack
- a full and detailed guide to the signing up process
The training takes the form of short videos which you need to allow approximately 30 minutes to view. You will be able to pause the video during viewing.
- On the Redline system, click on the ‘Training’ tab on the left hand side of the screen
- Click on the ‘Test’ button which will direct you to the test questions
- You will be asked 12 questions, all of which are covered in the training videos
- To pass the Moneyway CCD test you must obtain 9 correct answers for a 75% pass mark.
Once you have passed the test you will then have access to all the relevant tab buttons to be able to propose business to Moneyway.
If you are unsuccessful in passing the Moneyway CCD test, do not worry, as you will be allowed to retake it. However the questions will be refreshed and may not be the same as those in your previous attempt.
Before attempting a re-test, watch the training videos again, particularly the Introduction to CCD, making notes during the recap if required and ensure that you will not be disturbed during the process. If you are experiencing problems with the Moneyway CCD test it is important that you discuss this with your Manager.
You will only have access to the Training tab within Redline until you have passed the test..
Your Moneyway CCD test pass is valid for 12 months.
Simply click on ‘My Profile’ in the top right hand corner of the screen and follow the instructions.
Your login details are confirmation that you have achieved a level of competence in dealing with customer finance agreements under the new CCD legislation. You then become an Authorised Salesperson, as described in the Dealer/Retailer Operating Agreement between your Company and Moneyway. Any misuse of your login details resulting in non compliance will be recorded against your name.
Information regarding completion of Moneyway Finance documentation can be found:
- in the relevant training video section
- in the Dealer/Retailer Guides available on the website
- by contacting the Helpdesk on 0330 3030 091
If you are a Motor Dealer or Broker and have completed training via SAF you do not need to complete the Moneyway training modules. If your CCD training has been completed via your Manufacturer, 1st line Finance House or an approved Industry Specialist, ie ITC Learning, and you can provide the necessary confirmation if required, you do not need to complete the Moneyway training modules. If you are in any doubt please contact either your Regional Account Manager or the Helpdesk on 0330 3030 091. We would, however, strongly advise you to view the signing up process module for Moneyway documentation. This will help to ensure your deals are not delayed in the payout process.
Please contact the Helpdesk on 0330 3030 091. Mon – Fri 9am till 7pm, Sat – 10 am till 2pm
Other FAQ's
Moneyway is the brand name for the consumer lending division of Secure Trust Bank PLC, a fully owned subsidiary of Arbuthnot Banking Group, a pioneering force in banking since 1833. Secure Trust Bank was founded in 1952, is based and operated only in the UK and has grown steadily by offering traditional banking with old fashioned values in a simple, straightforward way..
- Click on ‘Search Proposal’
- Leave all fields blank and click ‘Search’
- This will list all deals proposed by your store and confirm, under ‘Description’ the current status e.g. ‘Referred’; ‘Accepted As Proposed’; ‘Declined’
- If a referral has been reviewed, the description will change to either
- ‘User Accepted’ - in which case click on the customer’s name and proceed to print docs off as normal, or
- ‘User Declined’ - which means that the deal cannot proceed
- You can refresh this screen by clicking ‘Search’ at any time and description will update.
Referrals are reviewed within 2 hours during working hours, (Monday – Friday 9am-8pm, Saturday 9am – 6pm, Sunday 10.30am – 5.30pm).
If you are not provided automatically with the correct address when entered, please check that you have collected the correct details from the customer (post code etc). If you have, and the option is still not given, call Moneyway on:
- 0845 111 7115 (cycle)
- 0845 111 7101 (motor)
- 0845 111 7109 (music)
Please do not enter manually as we will not be able to obtain a valid credit score if the system cannot trace the address. .If entering a flat address, e.g. ‘Flat 4 26 High Street’, all of this must be entered on the line ‘House number/Flat’, without any punctuation, i.e. commas or full stops. If the system still cannot find the address then please call Moneyway and we will look into this further for you
On the ‘Address’ page, once you have entered and confirmed the current address, click ‘New’ and follow the same procedure as for current address..
There are full details of the Moneyway product specification in your Dealer/Retailer guide which can be accessed by clicking the relevant tab button.
You must not devise, publish or procure any advertisement in any medium referring directly or indirectly to the provision of credit by the Company, without the Company’s prior written consent.
