Finance and Payment Options

Memory Business Systems Ltd is authorised and regulated by the Financial Conduct Authority.

We undertake both regulated and unregulated business, for which we are authorised under FRN:667294.

MBS can now offer our customers a number of payment options.

  • Outright purchase
  • Interest Free Finance over 12 months
  • Personal Finance over periods of 12 months to 5 years.

To buy outright

You can pay the full amount by credit card or debit card through our secure internet merchant service  via our website.  If you prefer, you can call the office on the above number. If you don’t want to pay by credit/ debit card we can arrange a one-off direct debit payment direct from your account via our partners GOCARDLESS – just call the office to arrange.
If you prefer just to pay a deposit and the rest on delivery (cabinets and canopies only), we are happy to do that for you as well.  You can do this via the website or by calling the office.
We accept all major credit and debit cards. Safe and 100% secure.

To buy on Finance

Memory Business Systems Ltd are authorised and regulated by the Financial Conduct Authority under FRN:667294. We undertake both regulated and unregulated business, which means that we can provide finance for all our units (with the exception of our Hand-Helds), in two forms.
  • We offer our own 0% finance over 12 months.
  • We can also introduce you to Lenders who offer Personal Finance (subject to their own terms and conditions) but based on your requirements.
    • This Personal Finance option allows you to choose any term to repay your loan (in monthly payments) of between 12 months and 5 years (60 months).
    • Subject to approval of your online Personal Finance application by the Lender, the funds required for your purchase can be transferred to your bank account between 15 minutes and 2 working days.

MBS 0% finance

Pay an initial deposit and then spread the cost of the unit over 12 monthly repayments

Just follow the procedures documented below :-

  • Select the item and pay the deposit specified by credit/debit card via the website or by calling 01925 694280
  • Memory Business Systems Ltd will then send you the Credit Application Forms via email.
  • You need to complete and return the forms. Complete all sections and answer all questions honestly. Failure to complete the forms properly may result in a delay.
  • On receipt Memory Business Systems Ltd will perform Credit Checks as documented on your agreement.
  • If your application is accepted, you will be advised and delivery of your goods arranged. If your application is rejected then you will be advised accordingly and your deposit will be returned.
  • The day before the delivery of your unit – your first payment will be due, and subsequent payments will be taken monthly (on a set date each month that’s convenient for you) .

Example of MBS 0% finance

Example purchase for a 5xTL01 Metallic Narrowband Canopy @ £1860 – 0% Finance (from 20/04/22)

Pay Deposit now£750
Balance Remaining£1200 (ie amount on Finance)
Monthly Payments12 Payments of  £100

Total Payable£1950
Total Interest£0 (APR 0%)

Representative Example

If you borrow £1200 over 1 year at a rate of 0% APR fixed, you will pay 12 instalments of £100 per month and a total amount payable of £1200.This includes the net loan, interest of £0 a broker fee of £0.00 and lender fee of £0.00. The overall cost for comparison is 0% APR. Credit is offered subject to status.*

0% Finance on selected units – Available NOW *

* Subject to normal Terms and conditions, credit checks and acceptance – the Company’s decision is final.

Personal Finance

Pay an initial low deposit and then spread the balance of the unit with low monthly repayments over a period, chosen by you, of between 12 months up to 60 months (5 years).

If the lender approves your application funds will be transferred to your account as quickly as 15 minutes to 2 working days.

As part of our registration with the FCA we are able to introduce you to a panel of Lenders who can offer you a personal loan.

Selecting the Personal Finance option will provide you with access to a range of personal finance quotes, from a panel of lending sources to enable you to fund the balance of your purchase.

Based on basic eligibility criteria, these lenders are happy to present you with a  range of quotes based on a soft credit check which will not affect your credit score.

How to apply for Personal Finance

Just follow the procedures documented below :-

  • At checkout, in the Payment Option section, select the Pay the deposit of £xxx today and spread the remaining cost over any period between 1 and 5 years
  • You will be presented with details of the Order, the Cash Price, The Deposit, The balance required to complete the purchase & Payment due Today.
  • Read our Terms and Conditions & tick the box to accept.
  • Click Place Order. You will be transferred to the Worldpay secure gateway, where you can enter your details to pay the deposit required to secure the order.

PLEASE NOTE:

Your deposit will be refunded immediately should you choose not to proceed or should your application for personal finance be declined.

  • On completion of payment of the Deposit, you will be transferred to a Thankyou page that will confirm receipt of your deposit.
  • On the Thankyou page click the button to finance the balance required to complete your purchase.
  • A new tab will open in your browser and you will be transferred to the Personal Finance micro-site.
  • You will be asked to complete and submit a preliminary enquiry details form.
  • You will then be asked to complete a form with details regarding the loan
  • How much would you like to borrow?
  • Over how long?
  • What is the purpose of the loan?
  • How much monthly disposable income do you have after mortgage/rent?

PLEASE NOTE:

At this stage you will not be Credit Checked, your Credit rating will not be affected.

    • You will be presented with a range of quotes showing
      • The Loan amount applied for.
      • The APR
      • Monthly repayments
      • Length of loan in months
    • You can then select the best quote to proceed with.
    • It is at this point that the Lender will start their credit scoring process
    • Some lenders will ask for “openbanking” access. This is a one-off access request to your bank to enable them to validate your income/expenditure/creditworthiness from your account statement.
      • If you agree to openbanking access you will be taken to your bank’s online banking website and asked to authenticate this request via the  bank’s normal online banking authentication process.
      • Agreeing to openbanking access is the fastest way to have your loan application approved.
      • If you cannot or do not wish to provide openbanking access, the Loan provider will ask you to provide information to support your application in different ways. But processing this information manually, naturally slows down how quickly the application may be approved.
    • Once your details have been validated by the Lender and your application has been approved, the Lender will provide a loan contract which you will be asked to e-sign
    • Once the contract has been signed, the loan sum will be deposited in your account between 15 minutes and 2 working days.
    • Once you receive the money please contact us on 01925 694280 in the office to complete your purchase.

 

  • If at any stage you should choose not to go ahead with the purchase we will be happy to refund your deposit.

Example of Personal Finance

Example purchase for a 9 Philips 311nm tube TL01 Narrowband Canopy @ £2510(Cash Price) – Personal Finance on £2210 over 2 years at 6% APR (from 20/04/22)

Pay Deposit now£300
Balance Remaining£2210 (ie amount on Finance)
Monthly Payments24 Payments of £97.95
Total Payable£2350.80
Total Interest£140.80 (APR 6%)

Representative Example

If you borrow £2210 over 2 years at a rate of 6% APR fixed, you will pay 24 instalments of £97.95 per month and a total amount payable of £2350.80.This includes the net loan, interest of £140.80 a broker fee of £0.00 and lender fee of £0.00. The overall cost for comparison is 6% APR. Credit is offered subject to status.

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