Treating Customers Fairly

Background

Short-term credit has received significant public and regulatory attention over the last decade. The Financial Conduct Authority regulates all lenders and credit brokers operating in the UK. Treating Customers Fairly is one of the FCA's core consumer protection principles. It sets the standard to which every regulated firm must work.

Swift Money Limited is authorised and regulated by the Financial Conduct Authority under firm reference number 738569. We are committed to the Treating Customers Fairly principle in every part of our business. This page explains the six outcomes the FCA expects firms to deliver. It explains how we meet those outcomes in practice.

The six TCF outcomes

The Financial Conduct Authority sets out six outcomes that every regulated firm must deliver for its customers.

Outcome 1

Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.

Outcome 2

Products and services marketed in the retail market are designed to meet the needs of identified consumer groups. They are targeted accordingly.

Outcome 3

Consumers are provided with clear information. They are kept appropriately informed before, during, after the point of sale.

Outcome 4

Where consumers receive advice, the advice is suitable. The advice takes account of their individual circumstances.

Outcome 5

Consumers are provided with products that perform as firms have led them to expect. The associated service is of an acceptable standard, in line with what consumers have been led to expect.

Outcome 6

Consumers do not face unreasonable post-sale barriers if they wish to change product, switch provider, submit a claim, make a complaint.

How Swift Money applies TCF

At Swift Money we act in the best interests of our customers at all times. Our practice follows the guidelines set out by the Financial Conduct Authority. We follow the requirements of the Consumer Credit Sourcebook (CONC). We take the following concrete steps to meet the six TCF outcomes.

Our free service

We offer a completely free service to the customer. We do not charge fees under any circumstances. We receive a commission from a lender only if that lender successfully funds your application.

This arrangement is clearly disclosed on our website in line with FCA rules. You will never be asked to pay an upfront fee, administration charge, or any other cost for our service.

Protecting your data

We will not take advantage of our customers. We do not share your personal information with third parties outside the scope described in our Privacy Policy. We transmit personal information using SSL encryption. We host data securely within the United Kingdom.

Our approach to data protection is set out in full in our Privacy Policy. It reflects our obligations under UK GDPR and the Data Protection Act 2018.

Clear warnings

We include warnings on relevant parts of our site to emphasise the risks of high-cost borrowing. This includes the statutory warning required by the FCA:

We also signpost free debt advice services on our FAQ page and provide a representative example so customers can understand the true cost of borrowing before applying.

Lender criteria

We maintain strict criteria for the lenders on our panel. Every lender we work with must:

• Be authorised and regulated by the Financial Conduct Authority
• Hold a valid Consumer Credit permission under FCA rules
• Comply with FCA caps on high-cost short-term credit, including the 0.8% daily interest cap, the £15 default fee cap, the 100% total cost cap
• Follow fair affordability assessment practices
• Treat customers in financial difficulty in line with FCA rules on forbearance and due consideration

We regularly review our panel to ensure that every lender continues to meet these standards.

Staff training

We provide continuous training to our staff so they have the right skills and knowledge to do their jobs effectively. Training covers regulatory obligations, complaint handling, data protection, identifying signs of financial vulnerability. Every team member understands the part they play in delivering the six TCF outcomes.

Supporting vulnerable customers

We recognise that some customers may be in a position of financial or personal vulnerability. This could include customers experiencing financial difficulty, dealing with mental or physical health conditions, facing a significant life event, struggling with low financial resilience.

Our approach to vulnerable customers is informed by the FCA's guidance on the fair treatment of vulnerable customers. If you are worried about your financial situation, please speak to one of the free, independent advice services listed on our FAQ page. These include StepChange, National Debtline, Citizens Advice.

Tell us if we fall short

We work hard to deliver the six TCF outcomes. If you feel we have fallen short, we want to know. Please raise your concern through our complaints procedure or get in touch through our contact page. We take every piece of customer feedback seriously. We use it to improve the service we provide.