FAQs
A regularly curated list of the most commonly asked questions by Harmoney customers.
I don’t have a passport or a drivers licence what can I do?
How long does this process take?How long to complete the process and receive an outcome
Debt Consolidation - what is it, and is it right for you?If you’re looking to jump start your finances, debt consolidation could help get you on a path to financial freedom.
Why do you need to know my loan purpose?Understanding why we need to know the reason for your loan
Why do you need to know my goal when I go for a debt consolidation loan?Loan goals
What is debt consolidation?Understanding debt consolidation
Why should you consider a debt consolidation loan?Why debt consolidation?
How do I sign up as a lender?Become a lender
My address does not show up. What should I do?What to do if your address does not appear in the address finder
What forms of ID do you accept?The types of ID (identification) that we accept at Harmoney. ID, passports and licences.
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. ID, passports and licences.
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?Credit checks, credit files, credit reports, credit history
I have a low credit score. Am I still eligible?Credit scores and eligibility
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 checks and our online application
When will Harmoney perform a credit check?Credit checks and our online application
I am self employed - what documentation do I need to provide?Self employed financial details
What if I have more than one bank account?Bank transaction retrieval, add another bank, more than one bank account
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
Can I add more than one bank account?Income goes into another bank account. Adding another bank
How do you know about my debts?Sourcing your debts. Finding your debts.
What is a liability?Learning about liabilities or debts
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?
What is an asset?Assets
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?
I share expenses with my partner. Do I enter only my share, or all expenses?What to do in the case of joint expenses. Shared 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
Why is my regular income not showing on my bank statement?Income not showing, not picking up my income
Should I include changes to my partner’s income?Expected changes to my income. Changes to partners income.
Why is it important that the 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
Can I change my bank account later on?
What are “loan terms”?
Will my loan be automatically approved?
How long is my approval valid for?
What is my interest rate based on?How we calculate interest rates
Will my interest rate change over time?Top Up, reducing my interest rate
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?Loan not funded. Full funding.
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
How long will it take to get the money?Getting funded
What is ‘in funding’?In funding
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 withdraw my loan once it has been funded if I change my mind?Withdrawing a loan
Can I change the loan amount after its submitted for funding?Changing the amount you want to borrow
Can I cancel the loan?Cooling-off period, cancelling my loan
Can I change my repayment frequency later on?
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.
How do I pay out my loan in full?Paying out your loan. Getting a payout estimate, closing balance or final statement.
Increase your repaymentsHow to increase your repayments
Make additional or voluntary paymentsHow to make additional, extra or voluntary payments
Will applying for a top-up loan change my payment date?Apply to top up your loan
Harmoney Top UpWhat is a Harmoney Top Up loan?
Why do I have to get a new loan?Top up, topping up your loan
Applying for a Top UpHow can I apply for a Top Up?
Does the co-borrower have to be included in my new topped up loan?Applying to top up your loan
What is Harmoney’s Top Up criteria?Top Up eligibility. Qualifying for a Top Up.
What term will apply?Apply to top up your loan
My Top Up loan got funded today. How long until my dashboard shows my new loan details?Top Up funding
What fees will there be?Apply to top up your loan
Unsuccessful Top UpIf my Top Up is unsuccessful, what happens to my existing loan?
Will my interest rate change when i top up?Apply to top up your loan
What if my circumstances have changed?Applying to top you your loan
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?
Equifax, Centrix and credit bureaux - who are they and what do they do?Credit reporting agencies. Credit reporters
I was unsuccessful, can you please tell me why?Why your recent loan may have been unsuccessful or declined