Responsible lending is to act in a customer’s best interests, ensuring affordability, transparency of terms and conditions and supporting a borrower if they experience repayment difficulties.

At wizzcash.com, we are very committed to responsible lending and follow the FCA guidelines for the high cost short-term loan industry in the following ways:

Your Personal Information is Secure

All the information that you share with wizzcash.com is 100% confidential.

-We are a registered company in the UK (number 07527455)

-Our Consumer Credit License number is 0642819

-We are registered with the Information Commissioner’s Office in compliance with the Data Protection Act of 1998. Our registration number is Z2831320.

To protect your information further, our site is on an SSL server. This is represented by the URL beginning with https as opposed to just http. The “s” highlighting the secure nature of the website. This added measure prevents outside sources from getting access to our data. We are obliged to retain records for a period of at least five years as our regulators must be able to access data readily and be able to reconstitute each key stage of our decision process. For more information on how we use your data, visit our Privacy Policy.

Transparency

Transparency of our website ensures that all the costs of a wizzcash.com loan are clearly displayed for our customers. Our homepage calculator shows exactly how much customers can borrow, over what length of time and how much they will repay. Furthermore, every page on our website clearly displays the APR and a representative example. The representative APR is the rate that is provided for at least 51% of applications and will depend on variables such as the dates and duration of the loan.

At wizzcash.com, we do not charge any upfront fees or admin fees to customers for simply applying. As a direct lender, the only fees we charge are related to the loan itself and there are no broker fees involved.

Approval

As part of our commitment to responsible lending, our basic criteria for customers to be eligible to apply for a loan is:

·         Over 18 years of age

·         UK resident

·         In current employment and take home a minimum of £750 a month

Further documentation may be requested by our underwriting team to confirm a customer’s eligibility for a loan. All customers must be in current employment and we do not offer loans to those individuals who are on benefits or in retirement.

Affordability Checks

We carry out affordability checks for every customer that completes the application. It is important to match the amount a customer wishes to borrow with what they can afford to repay. If you have been provisionally accepted, our underwriting team will review your application and assess your suitability for a loan using the details you have provided. One of our underwriters will get in touch with you to confirm employment and may also request a proof of current employment. We may need to verify the value of your salary. By finding out exactly what you earn, it provides us with the information needed to make an informed lending decision. This will be done in a way that will not compromise your financial position.

Failing to carry out adequate affordability checks may cause the lender to:

· Grant a loan to someone who is unemployed

· Loan to someone with too many expenses

· Lend too much to a customer when they are better off borrowing a lower amount

Credit Checking

We run a credit check for every single application before funding their loan. We work with credit reference agencies including Lending Metrics and Equifax to run credit checks and better understand a customer’s suitability for a loan.

Treating Customers Fairly

Treating Customers Fairly (TCF) is dedicated to putting customers at the heart of our business and always acting in their interests. As part of our commitment to TCF, we adhere to the following guidelines:

· giving information to customers that is clear and easy to understand

· putting things right if they are wrong

· being contactable for our customers via email, phone or livechat.

· taking the responsibility to decide whether a loan is suitable for a customer based on their circumstances