FAQ's

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Thinking about applying for a short term loan with Moneyline?

If you are a new customer, click here 

If you have had a loan with Moneyline before you can log into your account here and click the apply now.

Remember, you will need:

  • Your income and outgoing costs
  • Previous address if you have moved in the last year
  • National Insurance number 
  • Bank account details

If we do need a bit more information to make our loan decision, we may contact you by email or phone. Please make sure we have your up-to-date contact information, so it doesn't delay your application.

We will be in touch up to 2 working days, Monday to Friday.

Once you have completed the application and sent us your bank statements, we will have a look at your information.

We will check to see that your bank statements match what you told us about your income and outgoings spends and have a look at your credit information.

If this all looks ok, we may be able to offer a loan without any more information and you will receive a text and email with the next steps.  

If we do need a bit more information to make our loan decision, we may contact you by email or phone. Please make sure we have your up-to-date contact information, so it doesn't delay your application.

As soon as you apply for a loan you should get an email confirming your application.

Once we’ve received your application and reviewed your information, we'll usually be in touch within 2 working days.

We are open: Monday – Friday, 9.15am – 5pm

We want to give everyone an answer on their application as soon as possible and the best way for us to do this is by receiving your bank statement by open banking. 

Watch this video to find out more about how we keep your information safe and secure.

Once you start the application we will ask if you need extra help with the application.

Choose what extra support you need from the drop-down box, and someone will call you back to help you with the application. Or you can contact us anytime at serviceteam@moneyline-uk.com  and someone from our team will be happy to help you with your application.

Our short term loans are more expensive than bank loans and some other lenders, but we’ve been able to help lots of people who have been unable to borrow from their bank due to the small amounts they want to borrow or by having a low credit score. It costs more to lend small amounts as we still have the same costs. This is why many lenders don’t offer small loan amounts.  

Also, we don’t look for a ‘perfect credit history’ and we know that our customers sometimes may need to miss payments as stuff happens. This means we have a higher level of ‘risk’ and we need to charge a higher cost than other lenders to cover this.

APR for small, short-term loans can’t be compared to bank loans because of the way its calculated but if you compare it to other small loan lenders it can actually be up to 10 times cheaper! It all just comes down to what you’re comparing us to. 

We calculate our interest daily. This means you only pay interest for the time you have the loan. If you pay off your loan after 60 days this means you only pay interest on those 60 days. So, the quicker you pay your loan the less interest you pay and the more money you can save! This also means that the total cost of your loan is cheaper if you pay weekly as your balance reduces quicker. 

Also, we don’t have any fees or charges for paying your loan early or making extra payments. 

Remember, missed payments may mean it will take longer to pay back and also increase the interest you are charged.

Although we want to help as many people as possible, sometimes we won’t be able to offer you a loan. This can be for a number of reasons, including if we feel our short term loans are not affordable for you now or if we think that you won’t be able to afford the loan in the future. You can still apply in the future if your circumstances change.

If we can’t offer a loan right now here are some links to look at to see what support is available: 

We have a free benefit checker tool that can help you save money on your bills and check if you are getting the right amount of income, even if you're not on benefits. Click here to find out if you’re getting the right income.

Money Helper is an independent service, set up by the government to help people make the most of their money. They give free money advice to everyone across the UK – online, over the phone and webchat.

Step Change  is the UK’s leading debt advice charity. Its free, impartial and confidential and every person receives expert personalised advice to help them deal with their debts. 

We check to see, based on the information you provided and information from Equifax, if you will be able to afford the loan payments now and for the length of the loan.

We also look to see if you are managing to pay all your other bills at the moment.

Things we see that may lead to a decline are:

  • Returned payments on your bank statements
  • No income showing on your bank statements
  • Recently missed payments on other credit
  • Lots of credit taken out recently
  • A history of taking out credit and not paying it back
  • A high level of gambling
  • Use of unauthorised overdrafts
  • Too much income available after all your bills which means our loan is not right for you. We don’t want to give loans to those that could go somewhere else and get a loan cheaper.

The best way to get a lower price in the future is to make all your loan payments on time and keep on track with all other credit.

Did you know that using your payment holidays will help if you need to take a break from payments.

Already a Moneyline customer?

Like everyone, our prices have gone up. We try very hard not to increase our prices but sometimes we need to, so that we can continue to lend to our customers.

As a Not-for-Profit lender, we don’t have any hidden costs or fees. So, you won’t pay any application or late fees for taking out a short term loan with us.

The best way to get a lower price in the future is to make all your loan payments on time and keep on track with all other credit.

Did you know that using your payment holidays will help if you need to take a break from payments.

Logging into your account is easy to do. You can do it by clicking here. You just need your mobile number we have on your account.

We’ll then text you a code that you’ll need to enter. This confirms it’s you and that no one else is trying to access your account without you knowing. You should only need to do this once. 

If you’re struggling to log in, it might be because we don’t have your most up to date mobile number or email address.  

You’ll need to give us a quick call us on 0345 643 1553  or send us a message to serviceteam@moneyline-uk.com and we’ll update this for you. 

The easiest way to do this is by using our App.

Click here to login.

You will just need your mobile number to do this.

If you make all your flexi loan payments on time, we'll send you 2% of your loan to your bank account. This means If you have a loan for £500, we’ll pay you £10, it’s as easy as that.

Yes, if you’re one of our flexi loan customers you have a set amount of payment holidays you can take, depending on how long your loan is. You can decide when to use your payment holiday which can be any time after you’ve made your first payment. You won’t be charged any extra interest and it won’t show as a missed payment either.

Taking payment holidays does mean it takes you longer to pay off your loan.

Send us a message in the app to request a payment holiday.

You can make a payment at any time through the app or by calling 0345 643 1553 Monday - Friday 9.15am-5pm

Pay us within 5 days of your missed payment and it won’t show as missed and you won't go into arrears or be charged any extra interest.

Talk to us as soon as possible. We understand stuff happens and things can change. Difficult times can affect us all and are different for everyone. We want to make sure that we do all we can to understand your situation and offer our support where we can.   

We will have a friendly human, ready to listen to you. We can offer solutions that fit your current circumstances – just pick up the phone and call 0345 643 1553 or email serviceteam@moneyline-uk.com  at any time.

To come back for another loan, you need to have made about 50% of your usual loan repayments. We will usually contact you when you can re-apply for another loan.

Every time you apply, we check to see, based on the information you have provided and information from credit reference agencies, if you will be able to afford the loan payments now and for the length of the loan.

You can do this at any time through the app in the settings page. You can then select if you'd like to stop receiving marketing texts, emails, or letters, or all three. Opting in does mean you will receive all our hints and tips on how to get more income and our latest offers. An example of this is where you could be entered into a prize draw to receive £250 of love to shop vouchers for leaving us a Trustpilot review! 

Even if you opt out of marketing, we’ll keep you up to date with your payments and balance. If you apply again, we will send you important communications about your application. 

We check to see, based on the information you provided and information from Equifax, if you will be able to afford the loan payments now and for the length of the loan.

We also look to see if you are managing to pay all your other bills at the moment.

Things we see that may lead to a decline are:

  • Returned payments on your bank statements
  • No income showing on your bank statements
  • Recently missed payments on other credit
  • Lots of credit taken out recently
  • A history of taking out credit and not paying it back
  • A high level of gambling
  • Use of unauthorised overdrafts
  • Too much income available after all your bills which means our loan is not right for you. We don’t want to give loans to those that could go somewhere else and get a loan cheaper.

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