CPA Policy

What is a Continuous Payment Authority (CPA)?

 

A Continuous Payment Authority (CPA) is a recurring automatic payment set up using your debit card.

 

By agreeing to a CPA, you authorise us to withdraw agreed amounts from your nominated bank account using your debit card details. This process is fully disclosed and agreed to during your loan application. It includes allowing us to attempt collection of a contractual payment if other payment methods fail.

 

A CPA is different from a Direct Debit or Standing Order. Once set up, a CPA allows us to collect a series of agreed repayments from your debit card without needing to request manual authorization for each individual transaction.

 

Our Commitment as a Responsible Lender

 

We use Continuous Payment Authority in a manner that is reasonable, proportionate, and not excessive. We strictly collect only the amounts owed to us as specified in your loan agreement. If we become aware that you are, or may be, experiencing financial difficulties, we will always exercise appropriate forbearance to support you.

 

Payment Amounts & Attempt Limits

 

Attempted Amounts: We will only attempt to collect the agreed contractual repayment amount, or an alternative amount explicitly agreed upon with you. You can change your requested repayment amount or reinstate CPA attempts at any time by contacting us.

 

FCA Attempt Rules: In line with strict Financial Conduct Authority (FCA) guidelines, we will make a maximum of two CPA attempts per agreed contractual repayment. If the first attempt fails, we may make one secondary attempt to ensure we have not missed your salary deposit.

 

Payment Notifications: In accordance with the Consumer Credit Trade Association (CCTA) Good Practice Customer Charter, we will notify you before any payment is due.

 

Your Responsibilities

 

Updating Details: You must notify us immediately if your bank account or debit card details change (for example, if your card is lost, stolen, or expired, or if you close your bank account).

 

Repayment Obligation: Cancelling a CPA does not remove your contractual responsibility to repay your loan. If a CPA attempt is unsuccessful or cancelled, you can reinstate your CPA, set up a Direct Debit, or make a payment over the phone, by SMS, or by email.