General Questions

What is Peer-to-Peer lending?

Peer-to-peer (P2P) lending platforms like The Money Platform run with significantly smaller operating costs than other lenders, and therefore are able to pass on these savings to our lenders in the form of attractive returns and to our borrowers in the form of more competitively priced loans . Our role as a P2P lending platform is to bring together people who want to lend money with people who want to borrow money.

At The Money Platform we operate with a healthy level of caution and only match investors with borrowers who meet our stringent criteria.

Our platform takes care of the matching process. Lenders simply choose how much they would like to lend, how long they would like to lend their funds for, and what interest rate they would like on each loan, whilst our borrowers can browse the marketplace for the loan that is most suited to their needs.

How does Peer-to-Peer lending work?

As an example – you might have £500 to lend and someone else needs to borrow £500 to buy a dishwasher. The Money Platform gives you the opportunity to match and lend or borrow with someone who fits your criteria – the amount, the time length and the interest rate.

How is The Money Platform regulated?

The Money Platform is authorised and regulated by the United Kingdom's Financial Conduct Authority (Ref. 716455).

The Money Platform was selected by the Financial Conduct Authority to partake in their Project Innovate incubator programme – this programme helps launch high quality innovative businesses that are focused on helping customers get a better deal.

Where can I find The Money Platform's terms of service?

Click here to read our terms of service.

How do I get in touch with The Money Platform?

We are here to help. Please get in touch with us here.

How do I make a complaint?

We aim to give award winning levels of customer service and to provide a top class product, if that's not what you are receiving then we want to hear about it, so please get in touch with us here and we will come back to you within 3 business days.

Are my personal details safe with The Money Platform?

We place a high value on client confidentiality and keeping your data safe. We have had our systems tested by an external IT security company and we are satisfied that all data logged in our system is safe from any parties trying to access this data unlawfully.

Your data will only ever be shared with third parties as set out in our Terms of Service and in our Privacy Policy.

Borrower Questions

What is The Money Platform?

The Money Platform is a Peer-to-Peer lending company, which essentially means that instead of borrowing from a bank or a payday lender, you can borrow from ordinary savers for a lower interest rate. It's a win-win situation; by cutting out the middleman we ensure that Borrowers get a lower interest and Lenders get a better return on their money.

Why should I choose The Money Platform?

We are transforming the way short-term borrowing works – we want it to be fair, simple and much cheaper than what our competitors offer. As a peer-to-peer lender, we are a platform that gives you the opportunity to borrow directly from another person somewhere in the UK rather than a bank or payday lender.

Here are a few of the reasons you will love The Money Platform:

Who can borrow at The Money Platform?

We look at a few things when we decide if The Money Platform is the right loan provider for you. Here's what to check before you apply:

What can I borrow for on The Money Platform?

Typically our users borrow for:

How much can I borrow and for how long?

Loans range between £250 and £1,000 to be taken out for between 28 and 84 days.

What you can borrow depends on your financial circumstances. We take affordability very seriously, and as such we use credit reference agencies to verify the details you provide us.

We only want you borrowing amounts you are comfortable repaying!

How much will my loan cost me?

This depends on how much you are looking to borrow, and how long for – register here to get a quote.

We don’t have any hidden fees – if you repay on time then you won’t pay more than what you have been quoted for.

When do I pay back the interest?

We offer instalment loans and bullet loans.

In the case of instalment loans, interest and principal payments are due on the pre agreed instalment dates.

In the case of a bullet loan; all interest, along with the principal, is repaid at the end of the loan. Unless you have already paid off the loan prior to the loan ending we will automatically charge interest amounts that are due to your debit card on the pre agreed date.

How long does it take to apply for a loan on The Money Platform?

Registering and getting a loan quote is easy and takes just a couple of minutes.

Click here to get a quote.

How will I know if I am eligible for a loan?

After registration you will be given a unique quote for how much you might be able to borrow on The Money Platform.

Once you have finished uploading all your information and selected the loan you want to apply for we run a credit and income verification check – this assesses the information you provided and your credit history.

Do I have to pay anything to apply for a loan?

It is absolutely free to apply for a loan – you can apply here.

If you decide to take out a loan we make our costs clear and simple before you agree to our terms.

What happens after I click ‘borrow money' on the homepage?

We will ask you to fill out some personal details. Please make sure you have your mobile phone, debit card and bank account details to hand, as we'll be asking you for these as part of the application.

Will applying impact my credit score?

No, you can receive a free quote without any impact on your credit score.

What personal details will I need to give?

We will need details about you, your income, rent or mortgage and your bank account when you make your application. If we need other information, we will let you know.

It is important that the information that you provide is complete and accurate because we use the information that you provide when assessing your application. We never want to lend to anyone if it is going to cause them difficulties in repaying.

What happens once I've given my details?

Firstly, we do a search to check your details and the information you have given us. This search won't come up if you apply for a loan elsewhere and will not impact your credit rating.

Secondly, we work out how much we can lend to you and how long for – you will see this as soon as you have gone through our easy application process.

Why is my bank card not saving down?

Some bank cards require customers to contact their bank to enable The Money Platform to pre-authorise the bank card for future use. In order to complete registration customers whose card does not save down will need to contact their bank to enable the pre-authorisation of debit transactions from The Money Platform (through our payments provider MangoPay). The ‘pre-authorisation’ is a £0.50 charge we make and then immediately delete (so there is no impact on your account), we do this to validate the bank card.

How long does it take to verify my ID?

This takes a few hours on a weekday (during working hours). We are unable to verify IDs at the weekend or in the evening so these will be verified on the next working day.

Do I have to send anything by post?

No, our process is online and will take just a few minutes.

How long does it take to get the money into my bank account?

This depends on when you apply for the loan:

Does The Money Platform charge borrowers a fee?


We take our administration fee from the interest that you repay – so the rate you are quoted is the rate you pay. However, if you are more than 48 hours late with a repayment we will add a £15 late repayment fee to your loan, but we hope this is never the case!

Is there a cost for the money to be transferred into my bank account?

No. We do not make a charge for sending your loan to your bank account.

How do I repay my loan?

Normally, you don't – we automatically charge your bank the agreed repayment amount. We will let you know before this happens.

You also have the option of repaying manually prior to your repayment date.

What happens if I do not repay my loan on time?

If there is no repayment within 48 hours you will be charged a £15 late repayment fee, as well as interest at the agreed daily rate for each day you do not repay. You will never be charged more than double the amount borrowed.

Not repaying your loan on time can seriously affect your credit rating and harm your ability to secure loans or mortgages in the future.

Do you offer payment protection insurance?

No, we cannot offer payment protection insurance to borrowers.

Will my loan be affected if a lender dies?

No, your loan will still be repayable in full and the lender's estate will still seek to have any outstanding amounts paid to them.

Can I pay some or my entire loan off early?

Yes. You can pay your loan off whenever you want and you will only be charged the interest up to the point of repayment along with The Money Platform loan administration fee.

Is it possible to cancel my loan agreement?

Please read The Money Platform Loan Conditions (The Money Platform Loan Conditions) for further information regarding our loan cancellation policy.

Can I change delay repayment date?

No – when we make the loan we work out how much we can lend and at what rate on the basis of a defined time range.

Once you have successfully repaid your loan you can apply for a new one after just a 1 day wait.

Does my lender know who I am?


We take your privacy very seriously, and so on The Money Platform your identity is kept totally anonymous.

How can I see what loans I have taken out?

After logging into your account, please visit the ‘Loan History’ page. This can be found in the 'My Finances' drop down menu in the blue navigation bar.

What if I am in financial difficulty?

As an ethical lending platform we pride ourselves in seeking to only accept applications from those who are able to repay their loan.

The Money Platform is not regulated to give debt advice, however we if you are in financial difficulty we encourage you to seek free independent help from National Debtline, Christians Against Poverty and Stepchange Debt Charity. You can also find details of a Citizens Advice office.

What does it mean if my loan has been sent for debt collection?

This means we are asking a debt collection agency to collect the loan for us. The money is still owed to us and still has to be paid.

Why was my application denied?

Unfortunately we can't tell individuals the specific reasons their application was denied. However, the following factors have influenced our decision:

It is very important to us that you only borrow what you can afford to repay. Our strict and rigorous lending criteria means we are unable to issue loans to many who apply for them.

We assess our borrower's abilities to borrow using leading Credit Reference Agencies; these agencies might be able to give further insight into your credit rating and how to improve it.

Lender Questions

What is The Money Platform for me as a lender?

The Money Platform is a Peer-to-Peer lending platform. You can lend directly to fully vetted borrowers for much higher interest rates than you would receive from your high street bank and from other P2P platforms. Your borrowers will more often than not be getting much more competitively priced loans than they could do at another short term lender, so demand will remain high, as should your return on investment.

Why should I choose The Money Platform?

We are transforming the way short-term lending and borrowing works.

As a peer-to-peer lender, we are a platform that gives you the opportunity to lend directly to a creditworthy individual in the UK rather than see your money sit in a low interest bank account.

Here are a few of the reasons you will love The Money Platform:

Who can lend at The Money Platform?

Anyone aged 18 or above who is a UK resident and has a UK current account can lend at The Money Platform.

Is my money safe?

There are risks with lending at The Money Platform, the biggest being that a borrower doesn't repay. The Money Platform has the following steps in place to keep this risk to a minimum:

We have a plan in the event that The Money Platform ceases trading - The Money Platform does not hold client funds (these are held in segregated accounts) and loans are made between borrower and lender and do not form part of the Money Platform's assets.

What are the risks involved with peer-to-peer lending?

Peer-to-peer lending involves lending your money directly to borrowers and like any investment your capital is at risk. We take precautions with rigorous screening procedures to ensure our borrowers are creditworthy individuals, but lending on The Money Platform remains a risk.

Is The Money Platform covered by the Financial Services Compensation Scheme (FSCS)?

The Money Platform is not a bank and so, like with all other peer-to-peer platforms, lenders are not covered by the FSCS.

Who will I be lending money to?

All loans are unsecured personal loans, to creditworthy borrowers who have been carefully screened by The Money Platform. We perform credit, affordability, fraud and identity checks to ensure only the most suitable borrowers are selected. Our borrowers take out loans for a variety of reasons, generally they are used for: home improvements, purchasing a vehicle and one off events such as paying for a holiday or wedding.

How do I sign up for an account?

Registering is easy and takes just a couple of minutes.

Click here to get a quote.

How can I deposit funds into my account at The Money Platform?

After registering or logging into your account you can deposit funds into your Money Platform wallet by clicking ‘Deposit’ on the Dashboard. You will need to have registered your debit card details and enter your password each time you want to deposit funds.

To withdraw funds, you will need to have registered your bank account and sort code details with us. You then click on the ‘Withdraw’ button on your dashboard and you will be prompted to enter your password again.

Will the borrower know who I am?

No, our platform is fully anonymous for both borrowers and lenders.

Will I know who the borrower is?

No, our platform is fully anonymous for both borrowers and lenders.

Do I pay a fee to The Money Platform?

The Money Platform charges an administration fee which will be shown when you consider making a loan offer. The administration fee is proportional to the interest you will receive as the lender.

There are no hidden fees – we pride ourselves on transparency.

When do I get the interest and principal repaid for my funds that have been lent out?

All interest along with the loan principal will be paid automatically into your wallet when the loan matures.

How much can I lend and for how long?

Our loan’s range from £250-£1,000 in size and from 28-84 days in length.

There is no limit to how many loans you can have out at any one given time, although an individual borrower can never hold more than one loan simultaneously.

After the loan matures the money will be automatically repaid into your wallet within the Money Platform and you can withdraw these funds or lend them out again - whichever you see fit.

Can businesses lend through The Money Platform?

Yes, you can register your company to lend here.

Can I get my money back when it is still loaned out?


We are unable to liquidate loans before their maturity date.