Direct Debit terms and conditions

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The Direct Debit Guarantee

The Guarantee is offered by all banks and building societies that accept instruction to pay Direct Debits.

If there are any changes to the amount, date or frequency of your Direct Debit, Premium Credit Limited will notify you 5 working days in advance of your account being debited or as otherwise agreed.

If you request Premium Credit Limited to collect a payment, confirmation of the amount and date will be given to you at the time of the request.

If an error is made in the payment of your Direct Debit by Premium Credit Limited or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.

If you receive a refund you are not entitled to, you must pay it back when Premium Credit Limited asks you to.

You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify Premium Credit Limited.

Loan Agreement Features

Policy Expert is registered with the Financial Conduct Authority as a Credit Broker and will arrange credit facilities for payment of your insurance by monthly instalments through an arrangement with Premium Credit. We will receive a commission payment from them for making the arrangement but we will not charge you a fee for this credit broking service.

Your personal information and bank details will be passed to Premium Credit to set up this agreement and they will send you a welcome pack by email or post no later than 5 working days before the first collection. This contains important information including the mandatory ‘Standard European Consumer Credit Information’ document, a copy of the credit agreement, the Direct Debit guarantee and the terms and conditions. Please read all the information carefully to ensure it is right for you before signing the credit agreement. If you do not sign the credit agreement Premium Credit Limited will charge you £10.
You can withdraw free of charge from this agreement as detailed in the welcome pack.

If Premium Credit can’t collect a monthly payment they will charge a default fee of £20. This can affect your credit rating and might lead to the cancellation of your credit agreement. If this happened you would need to pay for your insurance in one payment and Policy Expert reserve the right to cancel the policy.

If you have any questions about the agreement, want to repay the loan or discuss making any changes to the agreement you can do so by contacting Premium Credit Limited on 0844 736 9836, emailing them at or by writing to them at:
Premium Credit Limited,
Premium Credit House,
60 East Street,
KT17 1HB

Payment Terms & Conditions last updated: 17th December 2015.