Moneyway Welcome Pack - Procedure Guide - Flipbook - Page 32
Procedure Guide
Further detail on each document is
provided below.
1. Important Information
This explains the application process.
2. Explanation of your Hire Purchase Agreement
This contains the adequate explanation that the
dealer or broker is legally obligated to provide to
the customer.
3. Pre-Contract Information
This contains the information on the key features
of the Product, 昀椀nancials, contact details and legal
rights of the customer.
This document must be provided to the customer
for them to retain and take away, and they must
be allowed adequate time to read it and the
opportunity to leave and consider their options
prior to continuing. It is valid for 30 days.
4. Hire Purchase Agreement (HPA)
This contains details of both the customer and
the dealer, a description of the vehicle, and the
credit terms provided. Other information shown
details the Right of Withdrawal process, early
repayments, missed payments and charges. The
subsequent pages contain all the terms of the
Customer Agreement.
The dealer or broker must highlight the declaration
above the customer signature box before asking
the customer to sign, ensuring the customer signs
both the direct debit box and the signature box.
Dealers and brokers should not retain a copy of this
signed agreement. Once forwarded to Moneyway,
this copy is to be destroyed.
5. Direct Debit Instruction
This should contain the customer’s bank sort code
and account details from which Moneyway are to
take the monthly direct debit payment.
The bank account must be in our customer’s name;
Moneyway will not accept third-party/ business
accounts. The Direct Debit Instruction is to be
signed and dated by the customer and returned.
6. Customer job check DPA Form
In some circumstances, Moneyway may wish to
contact the customer’s employer.
By signing the customer job DPA Form, the
customer is authorising their employer to provide
con昀椀rmation of their employment status/salary.
The bottom of the form must be left blank for us to
send to the customer’s employer.
The completed form needs to be signed by the
customer and returned.
Customer Deposit
Any deposit must be made in sterling.
Cryptocurrency is not allowed.
For any deposit of more than £9,000, you must
obtain con昀椀rmation of the source of funds from
the customer and retain this evidence – this should
be in the form of a bank statement or payment
con昀椀rmation con昀椀rming the account name, account
number and sort code of the account used to fund
the deposit.
Document Certi昀椀cation
All identi昀椀cation documents should be certi昀椀ed by
the person who has seen the original document
where a face-to-face transaction has taken place.
Where an employee of a dealer or broker has taken
a copy of original documentation (for example,
a passport or driving licence) provided by a
Customer who met face-to-face, the following
information must be added to the copy (or
supplied via email or text message):
• “Certi昀椀ed to be a true copy of the original
seen by me”.
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