Frequently Asked Questions

MoneyLoop Loans - The ins and outs  

What is the maximum size excess you support?

We are happy to finance excesses of any size. We have had some as small as $300 and others as large as $50,000

How hard is it to get started with MoneyLoop?

We have an easy to implement API endpoint and an online dashboard that allows you to get started today! Just contact us today to learn more!

How does MoneyLoop make money?

We request that you provide us with a discount depending on the duration you wish to allow your customers to repay their loan over. We will settle the upfront excess with you, and then recover the debt from the customer interest-free over the requested repayment period.

For Insurers  

How long can my customers take to repay their loan?

We offer payment arrangements of 2 months in duration.

How do my customers make their repayments?

When customers finalise their plan with you, they will be required to nominate a payment source. We typically require a debit card or credit card to be provided.

What if my customers don't repay their debt?

We will inform you that your customer has not met their responsibilities to repay their debt. You will also be able to track a customers repayment history via the dashboard provided.

If my customer doesn't pay MoneyLoop back, do I??

No, you do not have to pay MoneyLoop any money if a customer doesn't meet their obligations. We accept the credit risk associated with our product.

For Customers  

Does MoneyLoop give the excess payment plans directly to customers?

No, our excess payments are paid directly to the insurance provider.

If I am a new customer can I go direct to MoneyLoop?

No, you will need to go through your insurance provider.

If I am a MoneyLoop customer can I go direct to MoneyLoop?