Moneyboat FAQs

We provide borrowers with loans of between £200 and £1,500, which are repayable in flexible instalments over 2-6 months. Although we only offer one loan product, consumers use lots of different terms when searching for short-term loans. Below is a list of FAQs that addresses some of the key questions people have when looking to borrow with Moneyboat.

Applying for quick cash loans with Moneyboat

You will receive a credit agreement in the form of an e-doc, which needs to be signed and returned on the same day. If it is not returned on the same day, the e-doc is void and a new agreement will be generated for the following date to ensure the interest is accurate for the period.

Yes, in order for us to consider you for a loan, you need to have a regular income of at least £1,000 per month.

A loan is deemed affordable when the borrower has provided evidence that they can make the repayments they are committing to without it having a negative impact on their ability to cover their other essential costs.

Our offices are open Monday to Friday 8am to 5pm.

Yes, as long as your expected income over the next 3 months is at least £1,000 per month, taking into account the reduction.

Unfortunately, we do not offer loans to students and any application from students will be declined.

If our agents have approved your application and we are not waiting for any documents from you, you could have the money in your bank as quickly as 15 minutes after approval. This is because of our ‘15 minute funding’ capability through our issuer, Modulr. Please read our full terms and conditions for more information on 15-minute funding.

If you currently have an outstanding loan balance, we will not be able to offer you a “top-up” or second concurrent loan. Once your current loan is repaid you may be eligible to apply for a new loan; but instalment loans are considered an expensive form of borrowing and is not suitable for a long term financial solution. If you are experiencing financial difficulties and would like to set-up a repayment plan please contact us directly.

We do not sell any personal data to third parties unless we have full customer consent. If we can not fund your loan, we will give you the option to be evaluated by a third party provider who may be able to help.

At Moneyboat, new customers can borrow from £200 to £800 with no guarantor required. Loans are repayable over a minimum term of two instalments and a maximum of six instalments. The minimum instalment duration for the first loan repayment instalment is five days. Existing customers can borrow up to £1500, subject to passing our credit score and affordability checks.

A guarantor loan is tailor-made for individuals who are perhaps unable to take out a loan on their own merits due to their financial position or credit rating. Instead, they need to ask a family member or friend to be a guarantor. This means that if the guarantee defaults on the loan, the guarantor will have to repay the bank or lender.

Before applying for a loan, it’s important to evaluate your financial situation to ensure you can comfortably meet the monthly repayments. Our interest rates are considerably lower than the maximum amount allowed by the FCA and we don’t charge any hidden fees. Throughout the loan period, all you’ll pay is the agreed repayment instalments and a fixed interest rate of 0.7% per day. You can make an early repayment without penalty and call us to postpone a payment if required.

Repaying Moneyboat emergency loans

Please refer to your signed Consumer Credit Agreement for further details on how you can cancel loans or apply for refunds.

You can repay early at no extra charge or fee. In the event that a payment is made outside of your contractual instalment plan, unless otherwise agreed, the amount paid will be used to clear the accumulated interest balance up till the date of that payment and the remainder of that payment will be reduced from the outstanding loan principle.

Unless otherwise agreed, the remaining loan balance will be re-amortized over the number of contractual repayments remaining as per the Agreement.

Your interest is calculated on a daily basis on the outstanding capital. Should you wish to modify your agreement, you can call or email us in order to make an early payment. If you wish to postpone your payment, i.e. modify your agreement, we will need to run a fresh affordability assessment before setting this up. Again, feel free to give us a ring or send us an email.

Should you wish to make a complaint, please click on our complaints procedure on our website or contact us for further information.

We ensure that a summary of borrowing is available to all customers, which provides an overview of the total cost of your borrowing. The summary is updated and made available to you in the following circumstances: – You settle your loan with us; or

– Three months have passed since you made your last payment to us (only applicable if your account remains open); or

– Your account with us is closed as a result of default or forbearance.

Any summary of borrowing you receive will be issued via email. If you have any further queries regarding the summary, please do not hesitate to contact us, or if you wish to request a summary, please visit our Loan Summary Request Form page.

We will firstly try and contact you in order to understand why payment has been missed.

If your repayment remains unpaid and no alternative suitable arrangement is put in place it is likely that your account will fall into default and we will set out the next steps in order for us to secure and retrieve the outstanding balance.

Yes, you're welcome to repay your loan by making payments directly to our bank account rather than using a debit card. You can make this change at any time by using the following bank account details:

Bank name: Barclays Bank

Account name: Evergreen Finance London Limited

Sort code: 20-79-06

Account number: 9329 0514

Please use your loan reference and surname as a payment reference.

(If you don't have enough space to enter your full surname, just enter as much as you can)

If you're making an international payment, you might also need the following information:


IBAN: GB52 BARC 207906 93290514

If you're currently repaying your loan by debit card, please let us know that you've set up bank payments. This allows us to update your account and helps to reduce the chance that you make a double payment for your next loan instalment. You can let us know by sending us an email or phoning us on 020 3818 7470.

Customers who believe that they will struggle to make a loan repayment due to the pandemic or any other reason, should contact us as soon as possible to discuss potential options to ease the financial burden.

There are several free and impartial financial advice organisations that you can contact below.

Money Advice Service: 0300 500 5000

National Debt Line: 0808 808 4000

Step Change Debt Charity: 0800 138 1111

Full details can be found on our Debt Advice website page.

Our staff are always available to discuss ways in which we can help when things don’t go quite as planned should an alternative repayment plan be required we’ll be happy to assist.

Moneyboat instalment loans portal questions

We are always here to listen to our customers who want to discuss their payment options. Please call us or email us to discuss delaying your payments. Remember, if you fail to make a payment on time, you may incur a late payment charge, so always make sure you contact us well in advance of your next payment date.

Yes customers can pay in full through the portal, they can not however, make partial payments.

This is something we hope to be able to offer through the portal in the future, but currently, you need to contact us by email or phone to change the date on which your payments are made.

Please contact our portal customer care team at, or call us on 0203 818 7470. If you include as much detail as possible regarding your specific problems, we should be able to get back to you quickly with some guidance.

We understand that our customers like to keep close tabs on the activity on their account. You can do this any time you wish through the Moneyboat Customer Login portal by clicking ‘My Transactions’.

Simply click on the ‘My Loans’ tab on the left hand side bar to see your loan information.

If you try to log in without completing the registration process, you’ll receive a message saying ‘wrong data’. If you receive this message, you’ll need to check you’ve completed the registration process and verified your email address.

Click on ‘My Cards’ in the Moneyboat Customer Login platform’s sidebar to view the current payment cards registered to your account. You can add more cards and delete cards here too.

You'll need to use your primary account email address when registering for the Moneyboat Customer Login platform. It’s possible that you may have received your portal invitation to another of your email addresses, but you will need to check what your primary email is in order to register. You can find this email address under ‘My Profile’.

We do not support password changes at the moment, but we are hoping to offer this in the future.

More about short term loans

  1. Click on the “Apply Now” button and fill in our free and easy, online application form.
  2. We'll then carry out credit and affordability checks.
  3. Approval: Sign and send back your loan agreement which will be sent to you via email subject to approval.
  4. Funding: Receive your cash directly into your UK bank account

If you have a poor credit rating, you may struggle to get a short term loan. This is because responsible short term lenders need to make sure borrowers are able to repay their loans in full, within the loan term, before approving an application. You wouldn’t want to join those who were missold short-term loans in the past and who built up piles of debt they couldn’t afford to repay.

The industry has changed for the better, but we are still more flexible with our criteria than more traditional lenders like banks. We might consider offering you a loan even if you have a less-than-perfect credit record, providing we can see evidence that you have a steady, healthy income and manageable outgoing, for example.

This, again, will be a personal choice based on your own requirements and financial situation. If you fulfill all the minimum criteria find yourself with a choice of lenders, look at the following factors to help make you decision about which short term loan company to borrow from:

  • Their interest rates
  • Their reputation (what are their Trustpilot and Google scores?)
  • How much do they lend?
  • How long do you have to repay?
  • Do they charge extra fees?
  • Have they won industry awards?

It’s a good idea to look for a trustworthy direct lender. You can recognize a trusted direct lender by the below standards:

  • It offers support from financial advisers by email or phone.
  • Transactions are secure and SSL protected.
  • It’s GDPR compliant
  • It has an ‘Excellent’ Trustpilot score
  • No Fee surprises: no application fees, hidden fees, or charges.
  • It’s won market-related awards.

Short term loans are all loans that you take out over a short period of time - usually for a period of between a month and 12 months. Our loans are repayable over 1-6 months, which is quite typical of instalment loans, which is one type of short term loan. Some short term loans are repayable in a single instalment on your next payday. These are the loans that people often think of when they see the term ‘payday loans’.

It’s impossible to say what the ‘best’ short term loan is. Instead you need to consider what’s best for your requirements and circumstances. Have a think about how much you need to borrow, what you can afford and how long you need to repay the loan. This will help you to decide what the best short term loan is for you.

A short term loan is a small cash loan that you can access quickly to cover emergency costs. They can be useful if you’re caught short before your next paycheque comes in and are repayable over a short period of between 1-6 months.

Most people who take out short term loans use them to cover costs like car repairs, unexpected costs like school trips and uniforms, or replacing essential household appliances. Imagine being stuck without a washing machine for weeks, or struggling to get to work without your car because you don’t have enough in your account to cover the repairs. This is where short-term loans can be useful.

As well as being very convenient, short term loans can also be expensive, with higher interest rates than some other forms of credit.

Applying for an emergency loan or bad credit loan

That all depends on the nature of your ‘bad credit’. We make sure to take a human approach to lending decisions and will look at factors like income and outgoings to help us make up our minds, as opposed to just focusing on credit score. However, if you have things like CCJs and bankruptcy on your record, we are unlikely to offer you an emergency loan.

We know that when you have an emergency expense, time is of the essence. Follow these steps for fast funding from Moneyboat.

  1. Click on the “Apply Now” button and fill in our free and easy, online application form.
  2. We'll then carry out our credit and affordability checks.
  3. Approval: Sign and send back your loan agreement which will be sent to you via email subject to approval.
  4. Funding: Receive your cash directly into your UK bank account

Emergency loans are usually available online from alternative lenders such as Moneyboat. Banks and other traditional lenders tend to have longer, more complicated application processes and may not be able to get you the cash you need quickly enough. Our emergency loans are quick and easy to apply for and can be in your bank on the same day that you are approved.

Our loans work via a number of straightforward and efficient steps. Designed to help get you out of a financial rut, they can be funded on the same day, with money being available in your nominated account. Borrowers simply apply for a loan via our website’s application form, submitting the necessary and required details and an instant decision for your loan can be made.

Loans for bad credit are small, unsecured loan amounts specifically for bad credit customers. These loans range in size with from £200 – £1,500 and much-needed funding can be provided swiftly to customers upon acceptance. Furthermore, as a direct lender, Moneyboat make the lending decision, so you will only ever deal with us and no third parties.

As mentioned, trying to get a loan with no credit check may be opening yourself up to risk. Although there are some charities and Unions that may offer a no credit check, or low credit loan, it is still important to keep safety at the forefront of your decision and carry out essential background research.

If you need access to quick cash but have a bad credit record, consider your options carefully. If you apply for one of our loans, we will give your application due consideration, but we cannot always offer money to those with bad credit histories.

This is because a bad credit record suggests previous problems with credit and possible missed repayments. When those with bad credit apply for one of our loans, we do take into account other criteria, such as general financial situation and employment status. However, a credit check must be carried out and quick cash will only be offered to those who we believe can repay the money comfortably.

Want to know more about our quick loans?

First of all, you can find the right value of loan to apply for using our loan calculator. Then you can refer to the application we’ve provided. From there, you’ll need to ensure you fill in the required fields. This credit application process usually only takes about 10 minutes or so depending on whether or not you have the necessary financial information to hand when you start your application. You’ll also need to meet our eligibility requirements. We ask you about:

  • Age: You must be at least 18 years old in order to qualify for our same daycash loans.
  • Employment: You must have a regular job and proof of employment.
  • Income: Having a regular income and proof of such gives us reassurance you’ll be able to repay the cash loan without placing yourself in further financial trouble.
  • Residence: In order to be eligible, you’re required to have a valid U.K. address.
  • Bank Account: A current U.K. bank account is needed for both deposit of your same day loan and repayment. Unlike other same day lenders, we won’t ask for your bank account information your application has been approved and you’ve been heard our terms.

You’ll also need to answer questions regarding your monthly expenses before being approved for a same day loan. Verification of your identity, income and address as well as review of your information usually takes around half an hour. Once you’re approved, the money should reach your bank account very quickly.

  • Click on the “Apply Now” button and fill in our free and easy, online application form.
  • Eligibility Check: We’ll then automatically assess your eligibility against our affordability criteria.
  • Approval: Sign and send back your loan agreement which will be sent to you via email subject to approval.
  • Funding: Receive your cash directly into your UK bank account

Quick loans are usually available online. Applying for a quick loan online is often much quicker than applying for a traditional bank loan, for example. Online direct lenders specialising in quick loans, will usually be able to process your application and pay out your loan on the same day that you apply.

Quick loans are those that arrive in your bank account soon after you receive notification that you have been approved and after all checks have been completed. We fund our borrowers every 15 minutes, so that they can settle their bill or solve their problem right away. For details on how 15 minute funding works, click here.

All about open banking

No. Opting into Open Banking won’t impact your credit score at all.

There’s a registered providers page, which you can use to check that a financial services provider is registered for Open Banking and regulated by the FCA.

No. Signing up for Open Banking doesn’t have an impact on whether you are accepted for a Moneyboat loan. However, it makes the application process easier and more streamlined, removing some of the obstacles that can lead to delays in an application being approved.

If you have a bank account with one of the nine largest banks, they must offer Open Banking. Smaller banks can choose whether they wish to offer the service, but this may change in the future as the value of Open Banking is fully understood by consumers.

Yes. It is completely free to opt into Open Banking.

Yes. We make it easy for you to change your mind and opt-out of Open Banking via your bank.

No, you will need to explicitly give your permission through our website.

Moneyboat is happy to offer Open Banking services to our customers. Please visit our Open Banking Resource Page to learn everything you need to know.

Loans from Moneyboat will be reported on your credit file as an unsecured loan provided by Evergreen Finance London.

Evergreen Finance London is the company name which will appear on your credit file after taking a loan from Moneyboat. This is because Moneyboat is the trading name of Evergreen Finance London Limited. Rest assured, they’re essentially the same business. You’ll be dealing directly with Moneyboat and its crew for everything regarding your loan.

Borrowing and payday loans

A payday loan is a small cash allowance designed to tide you over until your next payday. These cash loans are typically approved on the day that you apply and are repaid in manageable instalments with fixed interest rates, which are usually relatively high.

High cost short term loans like payday loans, often offer credit in small amounts up to £1,500 and are best used to meet a one-off unexpected expense or rectify a temporary financial shortfall before payday comes. For example, what would happen if your car broke down and you needed it for work, but couldn’t cover the repair bill right away? Dental work, school trips, and broken-down household appliances are all among the other common uses for these types of loans. They can be a financial lifesaver when you’re caught short.

We started offering short term loans to provide access to a quick solution for those who need emergency cash. Our loans are easy and quick to apply for online and we’ll even consider approving you for one of our flexible loans if you’re credit record isn’t perfect.

The minimum loan amount is £200 and the maximum is £800. Existing customers can borrow up to £1500.

The minimum loan duration is up to 2 instalments and the maximum is 6 instalments. The minimum instalment duration for the first instalment is 5 days, the maximum instalment duration is 45 days.

Yes, we are a direct lender. We are authorised and regulated by the Financial Conduct Authority under registration number 674154.

Responsible lending is all about taking steps to make sure applicants can afford repayments before approving them for a loan. We check affordability through credit checks and by asking for details of your income. We follow to the rules laid down by the Financial Conduct Authority, which overseas the short-term consumer lending industry and take extra measures to maximise positive outcomes for our customers.

Spreading your repayments over a more manageable timeframe means more manageable loan repayment amounts. It also means that you are likely to develop positive financial and spending habits beyond a payday loan, which can help you become accustomed to managing your money more responsibly. Moreover, our repayment plans are designed to be as affordable as possible.

Whilst most borrowers are responsible and repay their loans promptly, others tend to find themselves borrowing money month after month. This is often just to take care of recurring expenses. We want to help prevent our borrowers falling into a cycle of bad debt and we do this by lending responsibly.

We encourage clients to use our online calculator and to try to develop healthy financial habits to minimise the number of times high-cost payday loans are needed. Saving money is often difficult, but it always pays to develop a habit of putting a percentage of every paycheque into a savings account. We also try to help our borrowers avoid high-cost payday loans by offering an alternative whereby their fast loan is repayable in flexible instalments, rather than all at once on their next payday. This means our loans can sometimes be more affordable to borrowers as they can spread the cost over as many as six months and try to budget accordingly.

There are several agencies available to help anyone experiencing financial difficulties. They help you to develop strategies that will keep debts under control. If you’re in need of financial advice, it pays to take advantage of the UK Financial Ombudsman, StepChange, or The Money Helper.

Not necessarily. Although it can be good to clear a debt from a psychological perspective, if you have a more expensive debt to clear, or debts that are higher priority, it may be worth paying them off first. However, always make sure you are aware of any early repayment charges.

It’s generally accepted that paying off your priority debts first is sensible. This means that you should prioritise your mortgage, your utility bills and other essentials. Then start with your most expensive debts first.

Everyone will have their own personal approach to paying off debt, but a general rule applies: Paying off high-interest debt first will save you more money. The interest you are paying on a loan may increase after you miss a payment, so it is often wise to prioritise paying off loans that have an impending scheduled repayment. This can help you to avoid late payment penalties and other such charges.

Short term loans are costly, so it’s best to try to manage your money and avoid having to take out debt in the future. Our blog is full of useful articles about money management, which could help you to improve your financial health. We advise consumers to consider the following when looking to avoid taking out further short-term loans:

  • Creating a budget and sticking to it
  • Using spending apps to track where your money goes
  • Considering selling unwanted items instead of borrowing
  • Looking into cutting back where possible
  • Asking family or friends to help out
  • Researching alternative forms of borrowing to short term loans

Debt can only usually be written off for consumers if they can prove they do not have any spare money available to make payments. By working with a debt advisor, you may be able to apply for a Debt Relief Order.

Defaulting on consumer debt won’t land you in prison. However, a jail term is a possibility for people who owe either child maintenance payments or tax.

We don’t negotiate on the amount of money consumers owe us but we can help to make payments more manageable through a payment plan.

As well as seeking advice and guidance from the various UK based debt charities out there, the best approach is to be open and honest with your creditors. Many of our customers find they feel a huge weight is off their shoulders once they admit they are struggling. Our collections team are a friendly bunch who are there to help you make payments that are affordable to you.

There are a huge number of myths about debt out there. Remember - if you need the facts about debt, refer to one of the organisations listed at the end of this page.

Your bank can offer you information and support, but financial organisations aren’t always objective in their opinions. For financial advice, it’s better to consult an independent charity or organisation, such as those listed below.

If you are struggling with your finances or not sure where to start, there are many options offering free advice. Below companies are authorised by the FCA and offer free financial advice:

  • MoneyHelper: Government service offering free financial advice by chat, WhatsApp or phone
  • Shelter: Free advice on debt, housing and healthcare by phone and chat

Other resources for help with debt:

Please take a look at our Complaints Procedure page or contact our friendly customer support by mail or phone.