• Moneyway Motor Finance

    Finance solutions for dealers and brokers



Coronavirus/COVID-19 update

Last updated Friday 8th January, 2021

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?

Although we have temporarily shortened our opening hours, we are still available to support our customers from 9.00am to 7.00pm Monday to Friday and 9.00am to 5.00pm on Saturdays. We will be closed on Sunday and on Bank Holidays. There are number of ways for you to contact us.

You can call our Customer Services Team on 0345 111 7125 or you can email This email address is being protected from spambots. You need JavaScript enabled to view it.

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 7.00pm 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.

I cannot make my monthly payments - what are my options?

 

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.

It's important that you make contact with us so that we can discuss and agree the most suitable option for you, which could include granting a payment holiday (subject to you being eligible for a new or further payment holiday). Please either complete the on line form, or call us on 0345 111 7125. We are open Monday to Friday 9am to 7pm and Saturday 9am to 1pm.

How does a payment holiday work?

Where we have agreed to a payment holiday (whether it be a full or part payment), you will not need to make your usual contractual payment for the period we have agreed to e.g. 3 months. Instead, those payments can be repaid at the end of your original agreement term - we will confirm this in writing to you.

We will collect the payments we have 'frozen' during the payment holiday at the end of your agreement by your usual payment method and we won't charge you for freezing those payments. A payment holiday will not affect your credit score, although lenders may use other sources of information when deciding whether to grant you credit in the future.

If you are considering whether to make reduced or no payments, you might find the Money Advice Service's Risk Navigator Tool useful.

I have had a payment holiday, can I request another one?

You can request a payment holiday even if you have had one before (subject to you being eligible for a further payment holiday) however, before agreeing to your request, we will need to understand your current circumstances as we have a number of options available to assist you at this time. Please either complete the on line form, or call us on 0345 111 7125. We are open Monday to Friday 9am to 7pm and Saturday 9am to 1pm.

I'm coming to the end of my payment holiday, what happens now?

We will make contact with you before the end of your payment holiday to remind you when your next payment is due and what will happen if you do not make future payments, as well as any further options available to assist you during this time. It is important that if you are still experiencing financial difficulties as a result of the impact of coronavirus that you contact us immediately on 0345 111 7125.

If I don't make my monthly payment on time, will it affect my credit rating?

If we have not agreed a payment holiday with you and you are unable to make your usual monthly contractual payment when it falls due, we will report the missed payment to the credit reference agencies in line with credit reference agency reporting requirements. Missed payments will affect your credit rating and may impact your ability to obtain credit in the future.

Where can I get independent debt or money advice from?

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. You can also find useful information by visiting the https://www.fca.org.uk/consumers/dealing-financial-difficulties-coronavirus   

I am waiting for my vehicle to be collected.

Due to the current situation, there may be 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.