Terms & Conditions

1. Who are we?

  1. Where we say “My Money Options ”, “we”, “us” or “our” we mean My Money Options, a trading name of Vision Blue Holdings Limited, a company registered in England and Wales with company number 11002926 whose registered office is at 11-12 Hanover Square, London, England, W1S 1JJ.
  2. We are registered as a data controller with the Information Commissioner’s Office under registration number ZA489427. You can check our registration on the Data Protection Public Register by visiting https://ico.org.uk/esdwebpages/search.
  3. When we say “you” or “your” in these terms and conditions, we mean you — the person who created an account and agreed to these terms and conditions, our Privacy Policy (which is provided along with these terms) and or Acceptable Use Policy (which is set out in the Annex to these terms) (these “Terms”) or the person who is in the process of creating an account and considering these Terms.

2. What do we do?

  1. We provide a free online platform make it simple for you to manage your finances and any debts you may have. We provide debt counselling and debt advice which includes, for example, debt advice and giving you access to budgeting tools and money coaching
  2. We will only provide advice when we are sure we have enough information on your individual circumstances. In order to do this, we will gather information from third party suppliers including banks and credit reference agencies. We will also provide you with detailed information on the solutions that are available to you. (the “Services”).

3. How do we get paid?

  1. You will never have to pay us for our Services. There may be times in the future where we release new products and services that might attract a charge, but we will let you know when a charge would apply, and you will not have to choose those products or services if you do not want to pay for them. Our Debt advice services are always free of charge.
  2. We make our money from referral fees from third party suppliers. This will either be a percentage (%) of the amount you repay to them or a fixed fee.
  3. We will also receive a referral fee from Uswitch for any supplier switching that you undertake in our product.
  4. No payments will be requested or required when you are using the product. If you are referred to a third party — payments may be required for services and in these cases third party supplier T&Cs will apply.

4. How can you become a customer?

  1. When you create an account on our platform you will be asked to confirm your acceptance to these terms and conditions, after which point you will become a My Money Options customer.
  2. By creating an account, you confirm that you:
    1. are over 18 years old;
    2. live in the United Kingdom;
    3. are a person accessing our Services for your personal use (you may not use our Services for commercial or business use); and
    4. are accessing our Services on your own behalf.
    5. You may only use our Services if you meet the above requirements.
  3. We may refuse to provide you with Services or cease to provide you with our Services, at any time and at our sole discretion. Examples of when we might do this could include if:
    1. we have reason to believe you are breaching, of have breached, these terms and conditions (for example, if you are using the Services for business use or on behalf of someone else);
    2. we stop offering a Service you are using;
    3. we think your use of our Services is unlawful or you breach our Acceptable Use Policy; or
    4. we are not been able to verify your identity.

5. More about our services

  1. We want to help you find a solution for dealing with your debts. We do this by offering:
    1. free debt advice;
    2. what we think is an easy to understand budget where you can see your debts, your income and your expenditure and an estimated amount of what you can afford to repay towards your debts each month (your “My Money Options Budget”);
    3. information about possible debt solutions based on your circumstances which may enable you to take control of your debt (such as a debt management plan or IVA);
    4. referral to several providers of debt and insolvency solutions;
    5. useful advice on how to manage your finances more easily
    6. tell you about free specialist debt advice where you need further support.

6. Your My Money Options Budget

  1. In order to give you a picture of your finances we help you create your My Money Options Budget. To do this, we will need your consent to access:
    1. your credit report and credit score from credit reference agencies
    2. financial information from your bank.

7. Credit reference agencies

  1. By agreeing to these terms and conditions you agree that we may obtain information from your credit report from credit reference agencies once a month on your behalf acting as your authorised agent and representative. This means that we may obtain this information as if we were you asking the credit reference agencies yourself.
  2. We will analyse and profile your credit information together with any other information provided by you or on your behalf. My Money Options gives you the so you can also do this yourself. As part of the Service, we will identify and inform you about credit products and services that are likely to be appropriate to your circumstances.
  3. You may opt-out of soft-searching at any time without penalty or charge by terminating your My Money Options account via the ‘My Account’ section on the My Money Options platform, but please note this means you will no longer have access to our Services.

8. Your financial information – open banking

  1. We need look at spending and incomes information from your bank accounts to be able to build an accurate picture of your finances u can afford your repayments. The simplest way to do this is by signing up with Experian, our “Open Banking Provider”. Our Open Banking Provider enables you to share your financial information with us securely and directly from your bank account (see clause 6 below for more details), subject to our Open Banking Provider’s terms and conditions of service. If you do not sign up to use our Open Banking Provider’s services, you will not be able to continue with the Services.

9. Your Debt Solutions

  1. In addition to building your My Money Options Budget based on your credit report and financial information, we may present you with potential debt solutions based on your budget which may include entering into a debt management plan with a third party, an administration order with a local council, a debt relief order via the Insolvency Service, an individual voluntary arrangement via an Insolvency Practitioner, or, as a last resort, help with filing for bankruptcy. These debt solutions will be managed by a third party. If you are in Scotland we will refer you through to solutions that are appropriate for your location. We will only refer you to a third party where you provide your express consent for us to do so. Some of these solutions may incur a charge, and this will be discussed as part of your agreement with the third party provider.
  2. There may be cancellation fees or other implications if you choose to terminate a debt or insolvency solution. These will vary depending on the product and the third party you are using. You should ensure this is provided by the third party prior to starting any debt solution.
  3. IT IS IMPORTANT TO NOTE: You will be making the decision on which offers are right for you. Any decisions you make based on the information on our website or products are purely your own choice. We do not control any third party’s products and/or services and therefore do not endorse, warrant or guarantee the reliability or accuracy of any such products and/or services. We strongly recommend that you read and understand any such third party’s terms and conditions and seek free impartial advice before signing up to their products and/or services.
  4. It is likely that obtaining any debt solutions will impact your credit rating. Any loan product will likely include a credit search which may create a record on your credit file.
  5. Failing to continue to pay taxes, fines, child support payments and debts could result in loss of access to essential goods or services or repossession of, or eviction from, your home
  6. Not continuing to make repayments under credit agreements or consumer hire agreements could result in loss of access to essential goods or services or repossession of, or eviction from, your home
  7. Ignoring correspondence or other contact from lenders and those acting on behalf of lenders could result in loss of access to essential goods or services or repossession of, or eviction from, your home
  8. Not continuing to make payments into a credit agreement, consumer hire agreement or debt management plan could result in action being taken to recover debts this may involve further cost being incurred
  9. By entering into a debt management plan or another non-statutory repayment plan there is no guarantee that any current recovery or legal action will be suspended or withdrawn
  10. If you are unhappy with the service provided by the third party, you may be entitled to compensation from the Financial Services Compensation Scheme established under section 213 of the Act (The compensation scheme). Some solutions may not be covered by the compensation scheme.

10. Connecting Accounts – Open Banking

  1. For open banking My Money Options uses the services of Experian Ltd who are regulated by the FCA to provide Account Information Services.
  2. Experian provides consumers with an analysis of their financial capability and affordability from an aggregation of the information held within your bank account.
  3. Experian will load up financial information from your accounts (“Account Information”). This is done by instructing Experian to retrieve Account Information held online by the banks and other financial institutions (“Providers”) which you have a customer relationship with.
  4. By doing so, you authorise Experian to contact your providers on your behalf to request access to your Account Information.
  5. Experian will access the Account Information, through your providers website using our automated tools, in the same way that you can online.
  6. Experian will ask you to enter your online banking log in credentials. These details are sent using bank-level security to your provider, who will return your Account Information to Experian.
  7. Your internet banking log-in credentials will be deleted and never stored by Experian or any of their service partners.
  8. Once Experian has generated your Account Information, they will ask you to check the information and make any corrections, before asking you to confirm that it’s correct.
  9. The Account Information provided by Experian, as part of our Services to you, is only as accurate, complete and up to date as the information supplied by your providers, used to obtain this information and. We do not check the information receive for accuracy or completeness.
  10. Experian will ask for your permission to send your Account Information to My Money Options Limited once you have confirmed this.
  11. Experian will hold information about you, which will be stored on a secure server in the UK. Your account information will be removed from Experian and our system after 30 days.

11. Changes to these Terms, our website and our Services

  1. We may amend these Terms, our website, products and our Services at any time. Before we implement changes to our terms and conditions that affect your rights and obligations, we will give you at least fourteen (14) days’ written notice and provide you with a description or a copy of the changes. If you do not wish to accept any such proposed changes then you may terminate these terms and conditions in accordance with clause 13 below. Your continued use of our Services will mean that you accept any such changes in our terms and conditions.

12. How do we use your data?

  1. We will use your credit information and any other data you provide or make available to us only for the purposes set out in these terms and conditions and our Privacy Policy, which is available here Debtsense Privacy Policy
  2. For instance, we:
  3. will hold your details and records on our systems and make this credit information available to you on our website or products;
  4. will undertake analysis and profiling of your credit information and, where applicable, information about financially related individuals, credit information (and any other information provided by you or on your behalf);
  5. will analyse your own credit information (to help you get a good understanding of your financial position and manage your credit position, to facilitate you in repaying your debt and to inform you of credit products that are likely to be suited to your circumstances);
  6. will use your credit information (and any information provided by you or on your behalf) to conduct affordability testing, which is a method used to assess how much you can afford to repay over a specified period taking into consideration your income and expenditure.
  7. may share your information with third party service providers, such as credit reference agencies, financial services providers and other advertisers, as well as your creditors or our partners, in accordance with our Privacy Policy and your account’s privacy settings.
  8. may use your anonymised data for analytics to improve our Services i.e. using payments data to train categorisation

13. Accuracy and non-reliance on information

  1. Some of the information we display is from third parties (including your credit report and financial information from your bank) and we do not have the ability to change this. We are not responsible for the accuracy of such information or for your reliance on that information. If you believe any information displayed by us may be incorrect, please let us know as soon as possible by contacting support@MyMoneyOptions.co.uk.
  2. If you believe anything regarding your credit information is incorrect, please contact the relevant credit reference agencies directly. Your credit reference agency will investigate and where an amendment is required this will be reflected on your credit file with 28 working days.
  3. We do not guarantee that:
    1. our website or products or any content on them or provided as part of our Services, will always be available, uninterrupted or error free; and
    2. the content or functionality of our website, products or other methods in which we provide our Services are up-to-date, nor do we have any obligation to update them.

14. Intellectual Property Rights

  1. We, or companies that use our products, own the intellectual property rights on our website, products and content on them. This is all subject to copyright with all rights reserved.
  2. The images, trademarks and brands shown on our website and in our products are protected by intellectual property laws and may not be reproduced or used in any manner without permission from their owners.

15. Prohibited usage

  1. You may only use the product for lawful purposes. You must not use the product:
    1. in any way that breaches any applicable law or regulation;
    2. in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;
    3. for the purpose of harming or attempting to harm any third party in any way;
    4. to send, knowingly receive, upload, download, use or re-use any material which is
    5. defamatory, contains any material which is obscene, offensive, hateful or inflammatory, promotes sexually explicit material, promotes violence, or promotes discrimination based on race, gender, religion, nationality, disability, sexual orientation or age;
    6. to send, knowingly receive, upload, download, use or re-use any material which infringes the rights of any third party;
    7. to send, knowingly receive, upload, download, use or re-use any material which is likely to deceive any person, be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence, promote any illegal activity, be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety, be likely to harass, upset, embarrass, alarm or annoy any other person, be used to impersonate any person, or to misrepresent your identity or affiliation with any person, gives the impression that it emanates from us, advocates, promotes or assists any unlawful act such as (by way of example only) copyright infringement or computer misuse;
    8. to send, knowingly receive, upload, download, use or re-use any material which is likely to deceive any person, be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence, promote any illegal activity, be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety, be likely to harass, upset, embarrass, alarm or annoy any other person, be used to impersonate any person, or to misrepresent your identity or affiliation with any person, gives the impression that it emanates from us, advocates, promotes or assists any unlawful act such as (by way of example only) copyright infringement or computer misuse;
    9. to transmit, or procure the sending of, any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation (spam).

16. Licensing

  1. By agreeing to these terms and conditions you are ageing that we can use any information, data, materials or other content (“Content”) you provide to us through our website or products, or that we obtain on your behalf as part of the Services we provide (including your credit information). You also agree that we can use, modify, display, distribute and create new material using the Content so that we may provide our Services to you, and for any other purposes set out in these terms and conditions or our Privacy Policy.
  2. By submitting the Content, you confirm and agree that the owner of that Content has expressly agreed that, without any particular time limit, and without the payment of any fees, we may use the Content for the purposes set out in these terms and conditions.

17. Limitation of our liability

  1. Nothing in these terms and conditions limits our liability for:
    1. death or personal injury arising from our negligence; or
    2. our fraud or fraudulent misrepresentation; or
    3. any duties or liabilities that we owe to you under the Financial Services and Markets Act 2000 (as amended) or the rules of the Financial Conduct Authority; or
    4. any other liability that cannot be excluded or limited under applicable law.
    5. To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our website and products, any content on them or Services accessed through our website or products, whether express or implied.
  2. We will not be liable to you or any third party for any loss, damage or cost suffered or incurred, whether in contract, tort (including negligence), breach of statutory duty or otherwise, even if foreseeable, arising out of or in connection with:
    1. use of, inability to use or unavailability of, our website (or any part of it), websites linked to it, our products or our Services;
    2. use of any products, data, information or services accessed or obtained or messages received or transactions entered into, through or from the Services obtained or accessed through our website or products including use of or reliance on any content displayed on or made available through our website or products;
    3. unauthorised access to or alteration of your transmissions or data;
    4. any inaccuracy or incompleteness of any information received by you or by us through our website or products or as part of our Services;
    5. the timeliness, accuracy, deletion, non-delivery, failure to receive or store or failure to update any user information, communications or personalisation settings;
    6. any products or services provided by any third parties including our partners as these products are governed by separate terms and conditions of supply which we have no control over; or
    7. any distributed denial-of-service attacks, computer viruses, Trojan horses, worms, software bombs or other damaging items or software you or any third party is exposed to as a result of your use of our website or products.
  3. You agree that:
    1. we are not responsible or liable for any loss, damage or cost you may suffer or incur in connection with any products or services provided by any third parties including our partners, or the terms and conditions applying to any contract you enter into with any third party in relation to any product or services, or for any acts, omissions, errors or defaults of any third party in connection with any product or services or the applicable terms and conditions;
    2. it is your responsibility to seek independent advice or otherwise satisfy yourself that you wish to apply for, take out, cancel, exchange or request a change to a product or service (including any financial product or services such as credit) before doing so;
    3. downloading content from our website or our products is at your own risk;
    4. we will not be liable to you with respect to you failing to obtain any of the products or Services or suggested Debt Solutions matched to you or advertised on our website or products;
    5. you are responsible for protecting your computer systems and other devices from exposure to viruses by the use of anti-virus software, firewalls and any other technical measures that are reasonably necessary to protect your computer systems and other devices from such matters;
    6. as we do not charge you a fee for access to and use of our website or our Services, our total aggregate liability for any losses and/or damage suffered by you shall be limited to £100; and
    7. you have considered our liability limit of £100 described above, sought legal advice if needed and conclude that such a limit is a reasonable amount given the nature of the Services not constituting financial advice.

18. Legal status, term and termination of these Terms

  1. These Terms and any other consents or authorisations you agree to in connection with using our Services will be a legally binding agreement between you and us.
  2. These Terms shall commence from the date you create your account on our website or products and will continue for as long as you use our Services or have an account on our website or products.
  3. We may terminate these Terms and your use of our Services, website, products or any products or Services contained in, or provided or obtained through our website or products at any time for any reason and with no liability to you. There will be no charge or fee in relation to the cancellation of the contract.
  4. If you no longer wish to receive our Services, you can close and delete your account by visiting the “My Preferences” section and clicking on “Remove my data”. If you do this, you will terminate the Agreement and not be able to access the information we hold about you through our website or products.
  5. If you withdraw consent to the processing of, or otherwise request that we stop processing, your personal information, we may suspend or terminate your access to our website, products and the associated services without any liability to you. We may keep records or data derived from your personal information in accordance with our Privacy Policy.

19. General

  1. The headings used in these Terms are for convenience only and shall not affect their interpretation.
  2. In these Terms, unless specified otherwise, use of the singular includes the plural, use of any gender is deemed to include every gender and any reference to a person includes a corporation, a partnership and any other body or entity, and vice versa.
  3. Use of the words, includes or including or similar words or phrases means without limitation and the use of these or similar words or phrases shall not limit the meaning of the general words.
  4. We shall not be liable for any delay or failure to provide our Services or perform any obligation under these Terms if the delay or failure is caused by circumstances beyond our reasonable control.
  5. Nothing in these Terms is intended to confer on any person any right to enforce any term of these Terms which that person would not have had but for the Contracts (Rights of Third Parties) Act 1999.
  6. Each of the provisions of these Terms (or part of any provision) is severable. If any such provision is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction that shall not affect the legality, validity or enforceability of the other provisions of these Terms. The provision itself shall apply with the minimum modifications necessary to make it legal, valid and enforceable.
  7. No delay or omission by us or you in exercising any right, power or remedy provided by law or under these Terms shall affect that right, power or remedy; operate as a waiver of it; or operate as an affirmation of these Terms.
  8. You may not assign any of your rights or obligations under these Terms.
  9. These Terms constitutes the whole agreement and understanding between you and us in relation to the use of our Services. Except in case of fraud, all previous agreements, understandings, undertakings, representations, warranties, promises and arrangements between you and us relating to the subject matter of these Terms or your use of our website, products or our Services are superseded, except as otherwise expressly stated in these Terms.
  10. By using our website, products or our Services you explicitly consent and agree to the processing of your personal information and our use of cookies in accordance with them.
  11. You agree that any notices and other communication may be given by us by email or posted on our website and this will comply with any legal requirement for such communications to be in writing. You also agree that any notice or other communication made in such manner will be deemed received by you 24 hours after email or posting.

20. Applicable law and disputes

  1. These Terms and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law and shall be subject to the exclusive jurisdiction of the English courts.

21. How to contact us

  1. We are here to help, so if you have any questions about our feedback on our Terms or wish to make a complaint about our Services, please get in touch with us by emailing support@MyMoneyOptions.co.uk. If the question or complaint relates to information we have obtained from a Credit Reference Agency or other third party service provider, we may refer your question or complaint to them if we consider it appropriate.
  2. If you have made a complaint about our Services and we have provided a final response which is not to your satisfaction or you have not received a response within eight weeks of making your complaint, you can ask the Financial Ombudsman Service to investigate. The contact details for the Financial Ombudsman Service can be found here https://www.financial-ombudsman.org.uk/contact/index.html.