1. These Borrow Terms and Conditions

1.1. These Borrow Terms and Conditions set out the terms and conditions that apply to any borrowing services that we offer through salaryfinance.com ("our website").

1.2. These Borrow Terms and Conditions should be read with our Privacy Policy and Cookie Policy (together the "Terms").

1.3. Please read these Terms carefully before you apply for our products and/or services.  Prior to submitting your application for a loan, we will ask you to sign your application electronically by ticking a box and by doing so, you confirm that you agree to, and accept, all these Terms. 

1.4. Availability of all of our products and/or services is within our sole discretion. Not all of our products and/or services are available to all users.

1.5. If you do not agree with these Terms, you must not apply for a loan.

1.6. We recommend that you print a copy of these Terms for future reference.

1.7. Date that these Terms were last revised: 28 November 2022.

2. About Salary Finance

2.1. When we refer to “Salary Finance”, “we”, “our” or “us” in these Terms, we mean Salary Finance Limited and each of its group companies (including parent, subsidiary and joint venture undertakings).

2.2. Salary Finance Limited and Salary Finance Loans Limited are authorised and regulated by the Financial Conduct Authority (firm reference numbers: 758053 and 734585).  Salary Finance Limited is registered as a small payment institution money remittance firm (firm reference number: 788485).

2.3. For loan products, Salary Finance Limited acts either as lender, or credit broker exclusively for associated company Salary Finance Loans Limited.

2.4. The “Advance” product is not a regulated lending product.

2.5. Salary Finance Limited and Salary Finance Loans Limited are registered in England & Wales (company numbers: 09677777 and 07643748) at registered address: Scale Space, 58 Wood Lane, London, W12 7RZ . 

2.6. Salary Finance Limited and Salary Finance Loans Limited are registered with the Information Commissioner’s Office under numbers ZA152606 and ZA099501. 

3. Eligibility

Our website is intended solely for users who are 18 years of age or older. By using our website, you represent and warrant that you are 18 years of age or older.

4. Method of repayment of your loan

4.1. Salary Finance loans may collect repayments by either “salary deduction” or Direct Debit.

4.2. “Salary deduction” is a method of repayment that we offer to certain employees whose employers have opted-in to the service.  Under this repayment method, your employer will deduct the amount of each repayment, from amounts owed to you by your employer (“Salary”), on each payday, and transfer the repayment to us on your behalf.  If this repayment is used, we will tell your employer the amount you need to repay each month so that they can deduct the correct sum from your Salary and transfer such sums on your behalf to us (or to any other lender).  

4.3. Direct Debit is a method of repayment that we offer to certain applicants to allow them to make repayments to us directly from their bank account (for example, when employees leave their employer). 

4.4. All successful applicants will be required to sign a Direct Debit mandate.  The Direct Debit mandate must remain in place throughout the life of your loan agreement, so if you cancel it for any reason, you agree that you will sign another one.

4.5. Collecting repayments via salary deduction or Direct Debit helps us ensure repayments are made in full and on time. This enables us to offer our customers more competitive interest rates. Our preference is to receive repayments via salary deduction, but where we cannot do so, we require repayments to be made via Direct Debit.

4.6. You irrevocably agree that:

4.6.1. Salary Finance has sole discretion to decide the method of repayment of your loan and Salary Finance may, at any time during the term of your loan, change your method of repayment; and

4.6.2. if you are repaying by salary deduction, your employer will, and you instruct your employer to, deduct sums payable under your loan agreement from your Salary and transfer such sums to us (or any other lender) on your behalf (if at any time Salary Finance determines that your loan is to be repaid by salary deduction).    Salary Finance is obtaining this agreement and instruction from you on behalf of your employer.

4.7. If you have any questions or concerns about any changes to your repayment method or you believe changes to your repayment method would cause you significant inconvenience, please contact us at hello@salaryfinance.com.

5. Salary Finance account registration  

5.1. To apply for a loan, you will be required to create a Salary Finance account.  To create a Salary Finance account, you will be asked to provide certain personal information (as detailed in our Privacy Policy).  You are only permitted to create one Borrow account, and you can only have one active loan at any one time.  If you create multiple accounts and/or take out multiple loans, this will be considered a breach of your credit agreement(s) with us, which may have serious consequences as set out in your credit agreement(s).

5.2. If you’re repaying by salary deduction your employer must be registered as a participating employer.

5.3. As part of the registration process, you agree to us processing your personal data and us and third parties (including your employer and credit reference agencies) sharing relevant information between each other to enable us to validate loan application details and to manage repayments (whether by Direct Debit, salary deduction or otherwise).  

5.4. Further details about the personal data that we obtain from you (or from third parties, such as your employer) and how we use such data are set out in our Privacy Policy.

5.5. If you have, or are in the process of applying for, any of our other products, this will not affect your application for a Salary Finance loan and vice-versa.

6. Accuracy of information

6.1. When creating a Salary Finance account or applying for a product on our website, you agree to provide current, complete and accurate information about yourself. If any information you provide is untrue, inaccurate, not current or incomplete, we may deny your application and terminate your Salary Finance account. 

6.2. You must promptly notify us of any changes to your personal details from time to time (for example, if your bank account details change).  In particular, if the bank account to which your earnings are paid changes, you are required to promptly notify us and provide details of the relevant new bank account.

7. Submitting a loan application

7.1. Please note any loan decision given during the application process via our website will be for indicative purposes only and we will need to carry out final checks before any formal loan commitments are confirmed.

7.2. Upon submitting a loan application, we will carry out a credit search on you. The search at this stage will be an enquiry search and will not affect your credit rating.

7.3. We may search the Electoral Roll and other information held about your present and previous addresses as part of this credit search.

7.4. All loans are subject to status.

7.5. If we do not approve your loan application, we may at our absolute discretion choose to offer you an alternative proposal for credit - for example, credit for a smaller amount and over a shorter period compared with your original loan application (“Salary Finance Starter Loan”). We will choose the amount, interest rate and term applicable to your Salary Finance Starter Loan based on the information provided in your application and by our Credit Reference Agency.  The offer for a Salary Finance Starter Loan will remain available for at least 14 days after which it will lapse, and you will need to submit a new loan application if you wish to apply for another Salary Finance loan.

7.6. We do not offer advice. If you are not sure about what is best for your own financial situation you might want to seek independent advice.

7.7. If you are successful in your application for a loan, we will monitor the information we receive about you (such as from your employer and credit rating agencies) and notify you if you are eligible to apply for a Salary Finance Top-Up Loan.

8. Debt consolidation

8.1. This section applies to you if you opt to use our debt consolidation service (if this is made available to you).  In this section, we will refer to your creditors as “Third Party Creditors”.

8.2. If you opt to use our debt consolidation service, we will pay your loan, in the amounts that you specify, to Paylink Outsource Services Limited (“Paylink”) who will pay, on your behalf, such amounts directly to the accounts with the Third Party Creditors that you specify.  You acknowledge that the only amount of your loan that will be paid directly to your bank account will be the balance (if any) of your loan not paid to your Third Party Creditors.

8.3. You will be responsible for providing clear, accurate and up-to-date details of amounts due to your Third Party Creditors (including all principal, interest and fees (including any early repayment fees)) and account information, or other details, of your Third Party Creditors.  Before providing us with any information, you should contact your Third Party Creditors and obtain final settlement amounts and ensure that any such information provided to us on our platform is provided as soon as possible after you obtain such information from your Third Party Creditors.  

8.4. You acknowledge that all payments to be made by us on your behalf will be subject to our anti-money laundering, fraud and due diligence checks.  If we are unable, for any reason, to pay any person on your behalf, we will let you know but we may not always be able to provide a reason.

8.5. Salary Finance will not be liable for (i) any delays in repaying your Third Party Creditors on your behalf (including where Salary Finance is not permitted to make such repayments due to legal, regulatory or other constraints), or (ii) losses or costs you may incur as a result of any error (or omission) in the information you provide to us (including where such information is out-of-date).

8.6. You acknowledge that Salary Finance, by offering this service, will be acting on an instructions-only basis and shall not be responsible for any liability you may have to any of your Third Party Creditors, which shall remain solely with you.  Salary Finance shall not seek any confirmation from any Third Party Creditor that your debt(s) has been repaid (whether in full or in part).

8.7. Your obligations to repay your loan (and any interest) is not contingent on or otherwise affected by you choosing to use our debt consolidation service or, for the avoidance, when repayments are received by your Third Party Creditors.

9. Price Promise 

9.1. The price promise guarantee is only available to individuals who are successful in their application for a Salary Finance loan (excluding Salary Finance Top-Up Loans).

9.2. Claims under the price promise guarantee must be received within 7 days of your Salary Finance loan offer.

9.3. Claims under the price promise guarantee will not be accepted after you have signed your Salary Finance loan agreement.

9.4. You must provide us with an unsigned written loan agreement from the other lender in the same name as the Salary Finance loan you have been offered. We require the original document to be sent to us by post along with the completed Price Promise guarantee form.  We may, in certain circumstances, accept an alternative form of loan agreement; this will be assessed on a case-by-case basis in our full discretion. 

9.5. A lower rate means a lower Annual Percentage Rate (APR) of an alternative unsecured fixed rate term loan, compared on a “like-for-like” basis. We will assess “like-for-like” based on features such as, but not limited to, length of loan, fixed loan amount, repayment structure (including interest and set-up and other fees (if any)). 

9.6. The lower rate must be available to the general public, not exclusively for existing customers of the lender in question, and verifiable by Salary Finance. The lower rate must have been offered and must still be available to you at the time of the claim. 

9.7. The offer does not apply to the following rates or loan types: 

9.7.1. loans where the funds are not available for immediate use;

9.7.2. discount rates offered only to members of groups or individuals who meet previously specified criteria;

9.7.3. rates that are not immediately available, promotions that are not at everyday rates and products which are sold under different terms and conditions, such as special financing (e.g. dealer loans, loans for specific goods);

9.7.4. loans that are secured on land, investments or goods;

9.7.5. any personal loan products being charged at a variable rate;

9.7.6. any personal and non-personal loan type products including but not limited to lease, contract hire, hire purchase or conditional sale agreements;

9.7.7. loan agreements where the interest has been temporarily or permanently suspended (including deferred payments and 0% loans for an initial period); or

9.7.8. loan agreements where the funds are to support periods of study, or the period immediately following completion of studies (for example student loans or graduate loans).

9.8. If your claim is successful, we will reduce your APR to match the alternative lender e.g. if the alternative lender offers you 3.9% and we have offered 7.9% we will reduce our offer to 3.9%. 

9.9. We reserve the right to modify or cancel this offer at any time without prior notice.

10. Access to our website and your account

10.1. Our site is made available free of charge.  However, we do not guarantee that our site, or any content on it, will always be available or be uninterrupted.  

10.2. We reserve the right at any time to modify or discontinue, temporarily or permanently, our website with or without notice.  You agree that we shall not be liable to you or to any third party for any modification, suspension or discontinuance of our website.  

10.3. We may terminate, suspend, restrict or block your access to our website or your Salary Finance account if we reasonably think it is necessary or because we believe there is a legitimate reason to do so.  Such reasons include, for example:

10.3.1. the security of your account is at risk (for example, if you have not updated your internet browser to the latest release);

10.3.2. we suspect unauthorised or fraudulent use of your account;

10.3.3. to comply with any legal or regulatory requirement;

10.3.4. you have given us false information about yourself;

10.3.5. for any reason beyond our reasonable control, including (without limitation) where our website and/or platform becomes unavailable;

10.3.6. for any actual or suspected breach of these Terms;

10.3.7. for any actual or suspected criminal activity; 

10.3.8. for any actual or suspected misuse of, or damage to, our website; and

10.3.9. an inactive Salary Finance account.  A Salary Finance account becomes inactive when you have not accessed your Salary Finance account at least once in any 12-month period.

10.4. Your obligation to repay your loan is not contingent on or otherwise affected by your ability or inability to access or use our website or by the closure of your Salary Finance account.

10.5. Where possible we will contact you before suspending, restricting or blocking your access to tell you that we are doing so and why. We may do this by displaying a message the next time you try to log on or perform an action on your account. However, we may not always be able to contact you, for example because of legal or regulatory restrictions, or because of unexpected interruptions to our service availability.

11. Closing your account

11.1. Once your loan has been repaid in full, you may cancel your Salary Finance registration by notifying us via email. Following closure of your Salary Finance account, you will no longer be able to access your Salary Finance customer account portal.

11.2. Following cancellation, we will continue to maintain records in line with our Privacy Policy.

12. Security

12.1. You are responsible for safeguarding your login details. You should not share them with anyone.

12.2. You must contact us immediately if you believe that your account has been compromised or if you believe that the security of your account is at risk.

12.3. By accepting these Terms, you expressly agree that you will not, and will not attempt to: (a) access data outside of the public aspects of our website or your Salary Finance customer account portal; (b) access any loan information or non-public personal information relating to any other user of the our website; (c) probe, scan or test the vulnerability of our website; or (d) interfere with or disrupt our website or any aspect therein, including, without limitation, via means of submitting a virus to our website or  overloading, “flooding,” “spamming,” “mail bombing,” or “crashing” our website. Violations of system or network security may result in civil or criminal liability.

13. Acceptable use of our website

13.1. You may use our site only for lawful purposes.  You may not use our site:

13.1.1. in any way that breaches any applicable local, national or international law or regulation;

13.1.2. in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;

13.1.3. to transmit, or procure the sending of, any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation (spam); or

13.1.4. to knowingly transmit any data, send or upload any material that contains viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware.

13.2. When we consider that a breach of these provisions has occurred, we may take such action as we deem appropriate.  

13.3. This may result in us taking all or any of the following actions:

13.3.1. immediate, temporary or permanent withdrawal of your right to use our site;

13.3.2. issue of a warning to you;

13.3.3. legal proceedings against you for reimbursement of all costs on an indemnity basis (including, but not limited to, reasonable administrative and legal costs) resulting from the breach;

13.3.4. further legal action against you; and

13.3.5. disclosure of such information to law enforcement authorities as we reasonably feel is necessary or as required by law.

14. Communications

14.1. When you visit our website or send emails to us, you are communicating with us electronically.  By accepting these Terms, you expressly consent to receive communications and any other documents (including your credit agreement and other regulatory documents) from us electronically to the extent permissible by law.  Such electronic communications may include emails, messages posted to your Salary Finance customer account portal or other electronic communications.  Your consent to receive electronic communications from us does not mean that we must provide all communications electronically. 

14.2. It is your responsibility to provide us with current and accurate contact information.  You represent that you are permitted to receive calls at each of the telephone numbers you have provided to us. You agree to promptly alert us whenever you stop using a particular telephone number.

15. Links

15.1. Our website may contain links to websites which are owned or controlled by parties other than Salary Finance. These links are provided for your convenience and do not imply that we have reviewed or condone the third-party sites, their content or their privacy policies.

15.2. When using other websites, you must be aware that any personal information you supply will be handled according to their privacy policies. We recommend that you read and consider these websites’ privacy policies and terms and conditions before providing any of your personal information. Salary Finance is not responsible for the privacy practices or content on third party websites.

15.3. We shall not be responsible for the content of any other sites that are linked to or from our website or our platform and we exclude all warranties and all liability for any loss or damage you incur as a result of your use of such sites.

16. Our liability

16.1. We do not limit or exclude our liability for death or personal injury resulting from our negligence, fraud or fraudulent misrepresentation and any other liability that cannot be limited or excluded by English law.

16.2. The content on our site is provided for general information only.  It is not intended to amount to advice on which you should rely.  You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.  

16.3. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.

16.4. While we take all reasonable precautions to keep the website and its server free from viruses, corrupt files and other malicious software, we cannot guarantee this.  We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our website or to your downloading of any content on it, or on any website linked to it.  You should ensure that you have appropriate anti-virus software installed on any computer or mobile devices that you use to access the website.  

16.5. Calculators and tools on our website provide estimates, which may be different from the actual amounts.

16.6. We do not offer advice. If you are not sure about what is best for your own financial situation you might want to seek independent advice.

16.7. Please note that we only provide our site for domestic and private use. You agree not to use our site for any commercial or business purpose.

16.8. We are responsible to you for foreseeable loss and damage caused by us. If we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during the sales process.

16.9. We have no liability to you for any loss of data, loss of profit, loss of business, business interruption, or loss of business opportunity.

17. Your acts and compliance with law

You are solely responsible for your acts and omissions in connection with your use of our website, and we will not be responsible or liable for any claim, action or liability that arises out of or is in any way connected with such acts or omissions.  You agree to use our website in compliance with all applicable laws, and not to use our website for any fraudulent purposes.

18. Intellectual Property

18.1. All intellectual property in our site and our platform, and all rights in any information which appears on our site and our platform (including the screen displays, the content, the text, graphics and look and feel of the site and platform), belongs to us or our licensors. All trademarks, service marks, company names or logos are the property of their respective holders. Any use by you of these marks, names and logos may constitute an infringement of the holders' rights. We do not warrant that our site does not infringe any intellectual property rights of third parties

18.2. We grant to you a limited right to use our platform on any computers, smartphones or tablets (as applicable) which are under your control, solely for your internal, private, non-commercial informational purposes.

18.3. You may not reproduce, republish, transmit or distribute any material, information or content on our website, or that form part of our services, without our prior written consent. However, you are granted a limited right to access and use our website and our services, and retrieve, display and print content pages, for your own personal, non-commercial use and to the extent necessary for use of our website and our services only. We reserve the right, in our sole discretion and without notice to you, to terminate your licence and to prevent future access by you to our website.

19. Changes to these Terms

We may make changes to these Terms from time to time. If we do this, we will post the changed Terms on our website and will indicate at the top of this page the date the Terms were last revised. You understand and agree that your continued use of our website after we have made any such changes constitutes your acceptance of the new Terms.

20. We may make changes to our site

We may update and change our site from time to time to reflect changes to our products, our users’ needs and our business priorities.

21. No waiver

The waiver of a breach of or default under these Terms, or the failure or delay by Salary Finance to exercise any right in respect of any breach of or default under these Terms, shall in no event constitute a waiver of any other breach or default of these Terms, whether similar or dissimilar in nature, or operate as a waiver of any other right or remedy available to Salary Finance.

22. Severability

If any provision of these Terms is held invalid or unenforceable for any reason, the remainder of these Terms shall continue in full force and effect as if the invalid or unenforceable parts of these Terms have been severed from these Terms.

23. Complaints and feedback

We welcome all feedback and suggestions. Should you wish to provide feedback, please contact us by email at hello@salaryfinance.com.  

We’re committed to providing the best service we can. If you’re not happy with your experience, please let us know so we can try to make it right – please see Complaints Policy.

24. Third party rights

If applicable, your employer may rely on and enforce against you the relevant parts of these Terms pursuant to which you give your consent or agreement to your employer in connection with your use of our services.

Notwithstanding that your employer may rely on and enforce against you the relevant parts of these Terms if applicable, we may vary, waive, rescind or terminate these Terms (in each case) without your employer’s consent.

25. Governing law and jurisdiction

These Terms, including the privacy policy, shall be governed and construed in accordance with English law. Unless agreed otherwise, the courts of the part of the United Kingdom in which you reside shall have exclusive jurisdiction to determine the interpretation and application of these Terms if any dispute arises out of, or in connection with, these Terms.