Tappily stopping lending...

CharlieEssex

Anyone else unfortunately with Tappily? Now stopped all lending as per the below:

"Tappily has in recent weeks been paying close attention to the significant changes we have seen in customer behaviour as a result of the current cost of living crisis. As a result of this and following engagement with the FCA we have reluctantly decided to temporarily stop all lending until further notice. This means that the automated top-ups function will no longer work for those customers who have it switched on."

Florence160811

Yes! 
They took a £700 repayment out of my bank last night which I am now unable to 'borrow' back which has left me unable to pay some bills. When I contacted them this morning they said it was just a technical error but now they've sent that email and are not responding t calls or live chat. 

Brie

Sounds like they may be in trouble.

IanJ62

I unfortunately have an Tappily account, and have to say upto this point it has been very good, affordable and useful. But I can see this suspension being extremely difficult for many. I’m slightly more fortunate as I have very little outstanding with them from a 1200 limit. But it does take away a useful and used credit line which unfortunately I have to use. And just hope I can find something similar.

I spoke online this morning with Tappily as their email etc is very ambiguous, and they say an investigation is ongoing with the Fca and themselves, with no timescales known naturally.

We can only hope it at some point restarts or someone can advise of a similar method of lending or company

Mistermark21

This worries me too. It's been such a relief being able to borrow when needed until my finances pick up. At the moment I owe them 500 and always pay back in full every month. If they take the full amount come payday I wont have enough to live on.

86jem

Apparently they have paused automatic payments but reading the above comments doesn’t look like that’s happened! 

IanJ62

They say they have stopped automated payments until technical issues are adjusted to allow for the current issue. But reading trust pilot reviews this is not the case and many have had money taken out. And also paid money in to reduce interest but still need to use for this month and now cant
the worst thing about this is the lack of information and how the rug was just pulled out from under customers feet who rely on it

WastedJoker

I suppose if you're overly worried they'll take one last payment and leave you with insufficient wages for the coming month you could try closing the link with your bank account and contacting your bank to cancel the CPA from your end?

Super-debt-man

I too had the email yesterday. They have been the best payday lender I have ever used. Only had a £500 limit but was a good little line of credit.   I have just used CashFloat as an alternative if this helps anyone. 

30Lozza30

The reviews on Trust Pilot are WOW - I feel for many who are reliant on the line of credit they have. It's going to cause so much hardship for people. 

They are in breach of their contract/credit agreement. Please check yours. clause 6.5. "We may otherwise terminate this Agreement by providing you with two months' written notice" 

They have given no notice, they sent an email at 3pm on 13th July to customers but actually suspended borrowing on 11th July 2022 - no notice was given. If notice was given 2 months earlier - people wouldn't be left in a mess. 

I use these and often borrow between £50-100 a week before payday for fuel etc, I paid £150 back three days ago and now have no access if I needed it. If I knew i was not going to access i would have paid the minimum. 

I have used resolver to get this issue resolved due to the fact they are in breach of their own terms and conditions within their contract agreement listed on your documents folder when you log in. I have also been advised by my bank to cancel the recurring payments to my card. I will pay by if when needed. 

samuel22

Had the exact email yesterday for SafetyNetCredit