• Moneyway Motor Finance

    Finance solutions for dealers and brokers



Coronavirus/COVID-19 update

Last updated  Monday 27th July, 2020

We want to make sure that you're kept fully up to date with what we're doing at Moneyway to maintain our level of customer service during the ongoing virus outbreak, referred to as Coronavirus or COVID-19. We also want to provide you with useful information so that you can continue to successfully manage your agreement with us.

As a result of the coronavirus outbreak, we are experiencing a high number of calls into our contact centre.  It will take longer than usual for us to respond to you.

We have provided some FAQs below to help you with any queries you may have:

How are Moneyway responding to coronavirus?

Our senior leadership team are closely monitoring the guidance provided by the UK Government, making key decisions which will enable us to continue to deliver ongoing service and support for our customers, whilst also maintaining the health and safety of our valued colleagues.

This means we are implementing a number of carefully planned measures designed to protect colleagues, including ensuring we maintain high standards of cleanliness in our offices and encouraging home working as much as we can and where it is safe to do so. Due to our strong IT infrastructure and controls, we are able to balance these measures whilst maintaining a good level of customer service.

When is Moneyway open?

We have temporarily shortened our opening hours and are available to support our customers from 9.00am to 5.00pm Monday to Friday and 9.00am to 5.00pm on Saturdays. We will be closed on Sunday and on Bank Holidays.

You can call our Customer Services Team on 0345 111 7125

If your agreement is in arrears, or you have received correspondence from our Collections Team, please call 03303 033 483 - we are open from 9.00am to 5.00pm Monday to Friday and 9.00am to 1.00pm on Saturdays. We will be closed on Sunday and on Bank Holidays.

You can email our customer services team This email address is being protected from spambots. You need JavaScript enabled to view it.

If you are experiencing financial difficulties or you have received correspondence from our collections team, please email This email address is being protected from spambots. You need JavaScript enabled to view it.

We will aim to respond to your email as soon as possible.

As a result of coronavirus, I cannot make payment

We appreciate this is a very uncertain time and that you may find yourself in a position unable to make your payments.

If you are struggling to make your monthly payments as a result of the impact of coronavirus, we have a number of options available to assist you during this time, including a three month payment holiday.

To request a payment holiday, please complete the on-line form. We will get back to you within 7 working days to confirm how we can help.

Where we agree to a full payment holiday, you will not have to make any payments to us during the agreed period. If we have agreed to accept partial payments from you for an agreed payment, the difference between what you have paid and what you should have paid will be deferred until the end of your agreement. Any full or part payments not made during the agreed period will be collected at the end of your agreement.

Taking a payment holiday will not negatively impact your credit file although, lenders may take other information into account when making future lending decisions, such as bank account information or information provided by you.

How long can I have a payment holiday for?

We can offer payment holidays for a maximum of up to 6 months however this depends on your individual circumstances.

How does a payment holiday work?

It is important to remember the payment arrangement is a temporary break from making your usual payments to us. The payment arrangement is a concession by us to help you during these uncertain times. It does not in any way waive, abandon or modify any of our rights under your Loan Agreement with us.

You will not need to make your usual contractual payments to us for the agreed payment holiday period.  The payment holiday will usually begin from the date of your next monthly payment due.  We will confirm this to you in writing.

There is no fee for taking a payment holiday.

The interest rate and total amount payable by you will not change.

Direct Debit

If you pay by Direct Debit, we will stop collecting your payments when the payment holiday begins.  Please do not cancel your Direct Debit. Your Direct Debit will start back up at the end of the payment holiday period.  If you have cancelled your Direct Debit, you will need to contact us to set it back up.  Missing your regular payment after your payment holiday has ended could place your account into arrears and affect your credit profile.

What happens at the end of the payment holiday?

If you are coming to the end of your original payment holiday and you are able to resume your normal contractual payments, your Direct Debit will call for your next payment. We will contact you to remind you when your next payment is due.

If you are unable to resume your normal contractual monthly payments, please contact us on 0345 111 7125 as it is important that we understand your circumstances to allow us to offer the most appropriate support to you.

Can I extend my payment holiday period?

If you currently have, or have had a payment holiday of 1 or 2 months, you can contact us to request the additional month(s).  If you have already had a payment holiday of 3 months and want to request a further extension, please complete the on-line form or contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

How do I reduce my current payment holiday period?

If you would like to reduce the payment holiday, you can contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. to request this.

Will a payment holiday affect my credit rating?

If your account is not in arrears, the payment holiday will not impact your credit rating, and you will not go into arrears on your repayments.

If your account is already in arrears, we will continue to report this to the credit reference agencies and we still need to send you statutory notices regarding your account.

Although a payment holiday will not affect your credit rating, lenders may take other information into account when making future lending decisions, such as bank account information or information provided by you.

My payment holiday is due to end and I am still in financial difficulties.

If by the end of the payment holiday period, you remain concerned about your financial circumstances and your ability to make payments on your account, please complete the on-line form.

You can also seek free independent advice from:

Turn2Us Charity by visiting www.turn2us.org.u/get-support/Benefits-and-Coronavirus; Citizens Advice Bureau on telephone number 0344 111 444 (England) or 0300 330 1313 (Wales) or visit www.adviceguide.org.uk; PayPlan on telephone number 0800 280 2816 or visit www.payplan.com

I am already in arrears.  Can I request a payment holiday?

If you are currently in arrears and are affected by coronavirus, you can request a payment holiday.  Please complete the on-line form or contact us on 03303 033 483

I am waiting for my vehicle to be collected.

Due to the current situation, there are delays to our vehicle collection service.  Please be assured that our vehicle collection partners will adhere to social distancing guidelines. You may be contacted directly by our vehicle collection partners to arrange a time and date for collection. If you are waiting for your vehicle to be collected, please remember to keep it taxed and insured.

Can I return my vehicle and end my agreement with Moneyway?

For more information about Voluntary Termination, Voluntary Surrender or if you are thinking about part-exchanging your vehicle please see our helpful guide

Be fraud aware

If you are unsure about any communication you have received that appears to be from Moneyway, please contact our Customer Services Team on 0345 111 7125. We will never ask for your bank account, PIN number, debit or credit details by email. 

Bereavement

At this difficult time we are here to provide support should you need to contact us about an agreement after the death of someone.  Please note that we will require a copy of the death certificate which can be emailed to us.  For more information, please contact our Customer Services Team on 0345 111 7125.

 

There are a number of ways to pay.

Direct Debit

If you have a Direct Debit set up, your monthly repayment will be taken as usual and you do not need to do anything.

Pay Online

Click on the link to make a payment online via our website portal

Our Automated Payment Line

Call 03303 033 483 and select option 1 after selecting your product

Bank Transfer / Standing Order

Sort Code: 20-08-16

Account Number: 2084 7364

Use your agreement number as reference for the payment

You may be presented with 'Confirmation of Payee Unavailable' notice when making your payment.  Please check you have used the correct bank details and continue to make the payment.