The Affordability Passport
Onward is launching a new application to help our customers reach a realistic, affordable repayment plan if you are in the unfortunate position of falling into debt with your rent account.
What is it?
The Affordability Passport® provides a real-time view of your financial position, by presenting a comprehensive view of your income and expenditure using Open Banking.
Experian are authorised and regulated by the FCA as a Credit Information Service Provider and registered under the Payment Services Regulations 2017 as an Account Information Service Provider.
How does it work?
The Affordability Passport® uses Open Banking technology, which allows you to provide consent and share account information in a safe and secure manner. It will calculate an average view of your income and expenditure across an average 30-day period and show how much you have left over at the end of this period.
What is the value?
The Affordability Passport will be a tool that can be used to assist in determining what is affordable. It gives a better understanding of your personal circumstances and can help with accurate budgeting advice in these difficult times.
It can only be used with CONSENT from you, and it is a quick and simple way of looking at a your income and spending rather than completing a manual income and expenditure form.
How do I use it?
It is really quick process.
To see how it could help you, please contact a member of the Income Team on 0300 555 0600, who will go though the simple process with you – all you need is your email address and some of your online banking details.