Application Terms & Conditions

1. Information about Ikano loans

It’s important to keep on track with your payments

  • if you are not able to make your monthly payment, you will be charged a missed payment fee of £25. All other fees are shown in your pre-contract credit information.
  • if you’re not able to make your full payments on time, the size of your debt will increase.
  • if you receive any missed payment or default fees, the number of payments you will need to make will increase to cover these fees.
  • if you find yourself missing further payments, you could face legal proceedings. If this happens you could face a charging order against your home.

We want you to stay credit healthy

To make sure your credit rating isn’t affected, it’s important to keep on top of your payments. If for any reason you don’t, this may make it harder to get credit in the future. We’ll make every effort to contact you about your account to help you to stay on track.

Right to withdraw

You have a right to withdraw from your loan agreement. If you would like to do this, you have 14 days from the day you receive your welcome letter. You will then have 30 days to pay back the full outstanding balance. You can find out more about this when you read and sign your loan agreement.

2. How we’ll use your information

We will make searches about you at credit reference agencies and fraud prevention agencies who will supply us with information for use in the assessment of credit products, as well as information from the Electoral Register, for the purpose of verifying your identity.

Except where a quotation search is being requested, the agencies will record details of the search type, credit or identification, whether or not this application proceeds.

We may use credit-scoring methods to assess a loan application and to verify your identity. Credit searches and other information which is provided to us and/or the credit reference agencies, about you and those with whom you are linked financially may be used by us and other companies if credit decisions are made about you, or other members of your household. Any of this information may also be used for identification purposes, debt tracing, debt recovery and the prevention of money laundering as well as the management of your account.

You have the right to know how we will use your personal information. Please read the "Your Information" section in the Agreement Terms and Conditions before you sign.

For account management purposes, from time to time we may want to communicate with you by SMS or email if you have provided us with these contact details. We would also like to use your details (including those you supply when you request a quote) and information about your transactions and your account to keep you up date with offers and information through mail, telephone, email or SMS. If you do not wish to receive this information, please write to Ikano Bank AB (publ), PO Box 10081, Nottingham, NG2 9LX. We may also pass on your details to other carefully selected companies who will communicate with you about offers and other services which we think may be of interest to you. If you do not want your details to be passed to other companies please write to the address detailed above.

Passing on information

We can pass on information about your account to anyone if it will help us to carry out our business, including companies based outside the European Economic Area (EEA). We will make sure that any information released outside the EEA will have the same level of protection as in the EEA. In particular, we may need to pass on information to our agents and sub- contractors. We may also pass information to other companies in the group of companies we belong to and credit reference agencies who contact us.

3. Fraud

Any information about you and your account can be shared within Ikano Bank in order to prevent or detect fraud, or to assist in verifying your identity. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering.

4. Sign online

When you apply for an Ikano Bank loan the full application is completed online. You will see a copy of your loan agreement on screen - we recommend that you save or print a copy so you can refer to this again if you need to.

Once you have read through the agreement, you ‘sign online’ by clicking a box to confirm you’re happy to continue with the application and that you accept the terms and conditions of the loan. Signing your agreement electronically is secure and removes the risk of paper documents being lost in the post or mislaid. You are also consenting for Ikano Bank to email you the links to your documentation and the link to sign your agreement online to the email address you have supplied us with.

Please remember that when you accept the terms and conditions of the loan by ‘clicking a box’ you are making the same legal commitment as physically signing a document. In the UK, the Electronic Communications Act 2000 states that electronic signatures are admissible as evidence in court if any question about the authenticity of data arises.

5. Browser compatibility

This website works optimally with Microsoft Internet Explorer v11 or above and Firefox v32 or above. We cannot guarantee the correct appearance of the site with other browser systems. In order to be able to apply for a loan you must have JavaScript enabled in your browser.

6. Links to and from our Website

Where our website contains links to other websites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those websites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.

Ikano Bank AB (publ) is not responsible for the content nor for the accuracy of information on other sites, including any details of product names, features and rates. We cannot accept any responsibility for any technical difficulties associated with their use.

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