Are Duologi offering payment breaks during Covid-19 outbreak?
Duologi will be offering all customers the option of a payment break for 3 months.

 

How do I request I want a payment break for my loan agreement?
Please use the link in your email you will receive or alternatively email us at customers@duologi.com. You can also call us on 0345 521 1881 and choose option 3, however our phone lines are very busy at the moment.

What happens once the 3 months payment break is complete?
The instalments missed during the payment break will be added on to the end of your loan.

 

How with this affect my credit file?
Customers credit files will not be affected by the payment break.

 

When should I tell you I want a payment break?
Please let duologi know you wish to take a payment break at least 10 days before your next payment instalment is due.

What happens if I am late in telling you I would like a payment break?
We appreciate not everyone will be able to tell us in advance of the instalment date – if you miss the 10 day cut off we can start the payment break from the next instalment.

Will there be additional interest charged if paying over a longer term?
No additional interest will be charged.

 

Do I have to prove any financial difficulty for the payment break to be actioned?
No, we will not ask for your income details in advance of a payment break, it is not means tested.

 

I am self-employed, can I still ask for a payment break?
Yes, a payment break is available to our self-employed customers too.

 

Can I cancel my loan instead of a payment break because of the Covid-19 outbreak?
Unfortunately, loans cannot be cancelled and the contract remains in place for the duration of the loan, including the extension of 3 months due to the payment break.

Does it cost anything to open an account with Duologi?
No. There is no cost at all to set up an account with Duologi. If you would like to offer your customers certain products such as 0% Interest free finance then there will be subsidy costs associated with this. Your finance expert can guide you through these so you know exactly what is best for you and your business.

What is the criteria to sign up as a merchant?
We ask that your business has been trading for at least 12 months with a turnover of at least £ 250,000 (two hundred fifty thousand pounds sterling) and that you have a positive balance sheet. There are always exceptions to the rule, so please do contact us if you don’t quite fit the criteria. We want to help you and your customers so we will do all we can to get you an account.

Is Duologi secure?
We take security extremely seriously and work hard to ensure that our platform and all your data is kept safe. Online transactions are often more secure than those that take place in shops as all the information transmitted on-line is highly encrypted. At Duologi we use proven techniques to ensure the security and integrity of everyone’s sensitive data. Our public web servers are Thawte certified, meaning you and your customers can be confident that nobody can impersonate Duologi to obtain your confidential information. Our data storage and the communication between us and our partners is regularly audited to the highest standards to ensure a secure transaction environment. We regularly third-party test for vulnerabilities and review the security of our application process.

How long does it take to set up and start trading?
Once you have signed up for an account you could be offering finance within hours in-store. To offer finance online you will need to integrate your website, but with a number of plug ins available this too can be the same day.

Do I need a FCA licence?
Yes and no! If you are looking only to offer 0% Interest free finance for 12 months, under FCA regulations they do not require you to be regulated and have a license.

However, we suggest that you offer your customers as many options as you can to spread the cost, and getting a license is much simpler than you may think. Businesses will often offer 0% Interest free finance for short terms whilst they are waiting for their FCA license to be granted, so their customers can benefit straight away. Find more details on applying for an FCA license here.

Can I have a demo before signing up?
Of course. We would love to show you just how simple offering finance is. Please contact one of Duologi’s finance experts today who will be happy to take you through a demo of the system.

Which finance products can I offer?
The choice is yours. You know your customers best so we let you decide which products to offer.

We have a full range of products including 0% Interest free, Interest bearing, Zero deposit and much more. We also love to build custom products tailored to your business and customers.