Don't pay up front for a loan - it could be a scam!
Advance loan fee fraud - what it is and how to protect yourself
Advance loan fee fraud happens when a fraudster poses as a lender and asks you to pay a fee upfront before releasing a loan. These fees are often described as insurance, administration charges, security deposits, or tax payments. Once you pay, the fraudster disappears - and no loan ever arrives. These scams frequently target people who have been turned down by mainstream lenders and are actively searching for credit.
Will TotallyMoney ever ask me to pay a fee to receive a loan?
No - never. TotallyMoney will never ask you to transfer money, pay a fee, or make any kind of upfront payment in order to receive a loan or credit product. Any costs associated with a genuine TotallyMoney product will always be clearly explained after you are approved, and will be collected only through agreed repayment terms - never as a precondition of releasing funds to you.
If anyone contacts you claiming to be from TotallyMoney and asks you to send money before receiving a loan, this is a scam. Do not make any payment.
How do I know if I'm being targeted?
Some common warning signs include:
Being asked to pay a fee before receiving funds
Pressure to pay quickly or risk losing your loan
Requests for payment via bank transfer, gift cards, or cryptocurrency
Contact out of the blue offering a loan you didn't apply for
Being told a fee is "refundable" once the loan is released
What should I do if I'm targeted?
Stop all contact with the fraudster immediately and do not make any payments. You can report the fraud to Report Fraud (0300 123 2040 or https://www.reportfraud.police.uk/) and to the Financial Conduct Authority via their ScamSmart tool. If you have already sent money, contact your bank straight away — they may be able to recover the funds.
You can also contact us directly at [email protected] if you are unsure whether a communication is genuinely from us, or if you need any help or advice.