Workplace Finance was established in January 2015 by the co-founders/directors of Fideliti Childcare Vouchers. Fideliti has been working in the employee benefits sector for in excess of ten years managing salary verifications and deductions for its childcare voucher scheme. This has positioned us as one of the most recognised and experienced voucher providers in the UK and working in the sector has helped us to identify the current lack of financial support available to employees from their employers.
Whilst many employers offer employee assistance programmes and some even offer loans directly to their employees, many don’t have the financial resource or means to carry out the responsibilities of a lender. We felt that we could use our expertise to expand our portfolio and offer an affordable loan product and employee benefit to employees, whilst ensuring the process for loan approvals and deductions via salary causes minimal work for the employer.
The Workplace Finance employee loan was launched in April 2016. Loans are available between £300 and £5,000. They are repayable over a period between 1 and 5 years at the discretion of the individual employee with interest rates as low as 6.9% APR. The loans differ from conventional loan products because repayments are taken directly from an employee’s net pay at source and the funds transferred to us by the employer, rather than direct debit payments being taken from the employee’s personal bank account.
If you telephone us, the complaint will be logged and the person that takes your call will attempt to resolve the issue for you. If we are successful in resolving the issues you have raised, we will send you a letter confirming that the matter is closed. If the person who takes your call is not able to resolve your issues at this stage, we will pass the details to a complaints handler who will contact you within 5 working days to let you know if we have been able to resolve your complaint or if further investigation is required. This contact will be in writing unless you specify otherwise.
If a full response cannot be provided within five working days you will be informed in writing of the progress made and you will be given the contact details for the staff member dealing with it.
