Just like any other business, there will be some customers who have Pounds Till Payday complaints.
Before deciding whether to give your custom to any organisation, it is a good idea to do some research about that business. This is the case no matter what goods or services they offer. Are their customers happy? What do they think of the service? Would they use them again?
All of these things can help you to form an opinion of a company and aid you in deciding whether or not they are the right choice for your needs.
Many people who take out a loan with Pounds Till Payday are happy with their experience of this lender.
However, there are some who are less happy. Sometimes, the lender may be to blame. Unfortunately, as with any business, there are always going to be some mistakes.
On other occasions, customers could be struggling with their own financial difficulties and the complaints they make could reflect this.
If a customer feels that they have had a particularly negative experience with Pounds Till Payday, they may want to make a formal complaint.
Pounds Till Payday is a responsible lender. As such, it has to address all customer complaints.
Pounds Till Payday complaints: How do you make one?
If you want to make a complaint regarding your experiences with Pounds Till Payday you should contact them directly.
You can inform Pounds Till Payday of your concerns by sending them a letter through the post, via fax or via email. You can also telephone their customer services to lodge your complaint with them.
After Pounds Till Payday has received your complaint, their team will do their best to resolve your complaint by the end of the next business day.
If they are unable to do this, you will be sent an acknowledgement of your complaint within 5 working days. This will contain information regarding who is dealing with your complaint.
Pounds Till Payday will send you a final response letter within 8 weeks of receiving your complaint.
If you are not satisfied with the response (or you do not receive a response), you can ask the Financial Ombudsman Service to look into your complaint.
You must contact the Financial Ombudsman Service within 6 months of receiving your final response letter. If you do not do this, the Financial Ombudsman may be unable to consider your complaint.
If you would like to make a complaint to Pounds Till Payday, its details are as follows:
Telephone: 0800 652 0078
Fax number: 0800 066 4291
Address: Forward Building, 46 Windsor Road, Slough, SL1 2EJ
You can also fill in the online complaints form, via the Pounds Till Payday website.
A dispute resolution service has also been set up online by the European Commission. This is to help anyone who has a complaint about any goods or services that they have bought online, from traders inside the European Union.
If you have not been able to get your complaint resolved and you applied for your loan online, you can complain through this service.
Types of complaints about Pounds Till Payday
Taking a look at negative loan reviews can give you a good idea of any issues previous Pounds Till Payday customers faced.
Unfortunately, Pounds Till Payday do not have any reviews online. Therefore it is not possible to see what types of complaints their customers are making.
In December 2015, the brands Pounds Till Payday and Swift Sterling were bought by MMP Financial Limited. Prior to this, the brands were owned by a parent company based in Malta.
This means that there is currently a lack of reviews for MMP Financial Limited.
One of the main complaints many lenders receive on review websites is that customers are refused a second loan. This can happen even after they have paid off their first loan in full.
Any responsible lender should conduct credit and affordability checks.
Especially before approving anyone for a loan, even if they have taken out a loan with that lender before.
This means that sometimes it may not be possible to approve someone for another loan, usually due to a change in circumstances.
Short term loans should only be used for emergency expenses, such as car repairs. They should not be used as a regular source of income.
Other common complaints include having to send in supporting documentation for a loan application and then subsequently being refused. Although this is frustrating, a lender may request additional evidence from you and then refuse your application.
Responsible lenders should ensure that you can afford to repay the money that you are borrowing from them. Sometimes, your application may have to be refused.
Pounds Till Payday refunds and compensation
Pounds Till Payday may offer you a full or partial refund if it thinks that your complaint is valid.
If you feel that you have not received a satisfactory response to your complaint from Pounds Till Payday, you can take your complaint to the Financial Ombudsman Service.
The Financial Ombudsman Service will then consider your complaint.
If the Financial Ombudsman rules in your favour, you may be entitled to a full or partial refund.
The Financial Conduct Authority (FCA) can fine lenders who it finds have treated customers unfairly. This has happened to some lenders in the past. MMP Financial Limited (the company that owns Pounds Till Payday and Swift Sterling) has not been fined by the FCA.
Pounds Till Payday is authorised and regulated by the FCA.
The FCA has the power to withdraw Pounds Till Payday’s authorisation to lend money to UK customers. This can happen if the Financial Ombudsman upholds a large number of complaints about Pounds Till Payday.
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