FAQs
A regularly curated list of the most commonly asked questions by Harmoney customers.
By Monisha and 1 other2 authors81 articles
I don’t have a passport or a drivers licence what can I do?
I have a low credit score. Am I still eligible?Credit scores and eligibility
My address does not show up. What should I do?What to do if your address does not appear in the address finder
What is a ‘valid’ licence or passport?What we view as a valid form of identification. ID, passports and licences.
Why do you need to verify my identity?Verifying your identity is for your protection. ID, passports and licences.
My ID has failed to upload or cannot be verified. What should I do?What to do when your identification fails to upload or isn't being verified. Passport and driver's license.
Why do you need to perform a credit check?Credit checks and how they help us to assess your creditworthiness
Will performing a credit check affect my credit score?How credit checks affect your score
How do you perform a credit check?
What is adverse data?Adverse data and its affect on your credit score
What will you do with my credit file information?Credit checks and our online application
If I do not give you permission to perform a credit check, can I still continue with my application?Credit check
When will Harmoney perform a credit check?Credit checks and our online application
What if I have more than one bank account?For customers providing multiple bank accounts during a quotation.
How much bank transaction data do you access?Automated bank transaction retrieval, bank login
Why should I let you retrieve my bank transaction data?Automated bank transactions retrieval, bank login
How do I know this service is secure?Bank transaction retrieval security
What is automated bank transaction retrieval and what is it for?Automated bank transactions retrieval, bank login
How do you access my bank transaction data?How bank transaction data retrieval works
What is the difference between a liability and an expense?Differences between a liability and an expense
Is rent a liability?Understanding if rent is a liability
I own a house with a mortgage. Is it still an asset?Is a mortgage an asset?
I share assets with my partner. Do I enter the full value of all of our assets or just my share?What to do in the case of joint assets. Shared assets.
What are ‘expenses’?What are my expenses?
Getting stuck on the expenses page?Stuck on part 3 of 5 of Financial Details
What is my ‘income’?Regular income, completing the income page
Should I include changes to my partner’s income?Expected changes to my income. Changes to partners income.
Why is it important that my repayment frequency, monthly amounts and interest rates are true and accurate?Making the details accurate
There is a liability missing. What do I do now?Adding a liability
Will my interest rate change over time?Interest rate
Can I change my bank account later on?
What are “loan terms”?
How long is my approval valid for?
What is my interest rate based on?How we calculate interest rates
How much money will I receive?
How is my loan end date calculated?Loan end date
Can I pay off my loan before the set term?Paying off your loan early
What happens if my loan is not funded?
Need help with account numbers, codes and references?Completing the debts to consolidate page.
The interest rate offered to me is not what I expected.How we calculate our interest rates
Do lenders investing in my loan know who I am?Lenders, funding, investors, access to information.
Can Harmoney change my interest rate during the term of the loan?Change interest rate.
Can I change the loan amount after accepting the loan offer?Changing the loan amount after accepting a loan offer.
Can I cancel the loan?Cooling-off period, cancelling my loan
Once I am approved how long will it take before I get my money?
Can you remind me when my direct debit is due to go out?
What if my direct debit payment falls on a weekend or public holiday? Will I incur any fees?
What happens if I miss a direct debit payment?
What happens if I miss my monthly required payment?
What’s the difference between my required payments and my direct debit payments?
What if my direct debit falls on a weekend or public holiday? Will I incur any fees?Debits and payments due on public holidays or weekends
How do I know how much to pay and when?Knowing your loan commitments
What do I have to repay?Understanding your commitments
Deferring repaymentsCan I defer my payment that’s due?
If I am concerned, or something in my financial situation life changes, who do I call?If my financial situation changes, or I'm concerned about making my repayments for any reason, what should I do?
Can I get help if I suffer hardship?Hardship
If I pay my loan off early how much interest will I pay?Early repayment. How interest is applied.
Paying your loan off earlyGetting a payout estimate, closing balance or final statement. Making additional payments. Increasing repayments.
Increase your repaymentsHow to increase your repayments
Make additional or voluntary paymentsHow to make additional, extra or voluntary payments
Borrow more
Sometimes you need a little extra financial support to bring your dreams to life. Since you already have a loan with us, we already know you. That means borrowing more is usually simpler, with fewer steps to get started.
What does “Combine my loans” mean?
Can I combine non-Harmoney loans?
What does 'Start a new loan' mean?
Why am I only being offered the option to ‘combine my loans’?
Will combining my loans affect my repayments?
Will starting a ‘New loan’ change my existing loan?
Can I choose between both options ('Start a new loan' and 'Combine my loans') every time?
Does combining my loans help with affordability?
Will combining my loans cost more?
What if my circumstances have changed?Applying to additional funds.
Can the loan terms be changed?
Can my account be terminated?Terminating your account. Account termination.
What are my rights?Your rights
Can I withdraw my loan?Withdrawing a loan.
Who do I contact if I have a dispute?
I was unsuccessful, can you please tell me why?Why your recent loan may have been unsuccessful or declined