Moneyway / Secure Trust Bank Car Finance Claim — PCP & HP Compensation 2026
Scheme status (updated 5 August 2026): parts of the FCA motor finance redress scheme are temporarily suspended while the Upper Tribunal considers legal challenges. Lenders do not currently have to calculate or pay compensation under the scheme, the original decision and payment dates no longer apply, and no payment under the scheme is guaranteed. If the scheme proceeds, first payments are expected in 2027 at the earliest. Any dates mentioned below were set before the suspension.
If you financed a vehicle through Moneyway or Secure Trust Bank between April 2007 and November 2024, you may be entitled to compensation under the FCA confirmed motor finance redress scheme (PS26/3, 30 March 2026). Moneyway is a motor finance trading name of Secure Trust Bank Plc, which operated as a significant independent lender in the UK motor finance market during the eligible period.
Who Are Moneyway and Secure Trust Bank?
Moneyway was a motor finance brand operated by Secure Trust Bank Plc, a UK challenger bank headquartered in Solihull. Secure Trust Bank provided car finance through the Moneyway brand via independent dealers and used car retailers across the UK, operating across both prime and near-prime lending segments. In 2019, Secure Trust Bank sold its motor finance business to Manheim, and the Moneyway brand was subsequently wound down. However, existing agreements remain subject to the FCA redress scheme.
If your finance agreement names Moneyway, Secure Trust Bank, or STB Motor Finance as the lender, all refer to the same entity for the purposes of your complaint.
Is Moneyway Covered by the FCA Scheme?
Yes. All FCA-regulated PCP and HP agreements arranged through Moneyway / Secure Trust Bank between 6 April 2007 and 1 November 2024 are within PS26/3, regardless of whether Moneyway is still actively trading. The complaint deadline is 31 August 2027.
Three Grounds for a Moneyway Claim
1. Discretionary Commission Arrangements
Moneyway operated through independent dealer and broker networks where DCAs were widely used prior to the FCA ban on 28 January 2021. Dealers could set your interest rate within a range, earning more commission the higher the rate. Where this was not disclosed to you, you are eligible for compensation.
2. Broker and Dealer Commission Non-Disclosure
As an independent lender distributing through dealers and brokers, Moneyway agreements frequently involved layers of commission — both dealer and broker commission potentially earned on a single transaction. Where neither was disclosed to the customer, this creates multiple grounds for a claim.
3. Unfairly High Fixed Commission
Post-January 2021 agreements may still qualify where the fixed commission met the FCA threshold of 39% of total cost of credit and 10% of loan amount.
What Happened After Secure Trust Bank Sold Moneyway?
Following the sale of the motor finance book in 2019, responsibility for existing Moneyway agreements transferred to the acquiring entity. For the purposes of your PS26/3 complaint, you should address your complaint to Secure Trust Bank Plc at their registered address, as the original lender. They retain the regulatory obligation to handle complaints arising from agreements they originated.
How Much Could You Receive?
The FCA confirmed national average is £829. Your amount is calculated using the hybrid remedy — averaging your estimated interest overpayment (17% APR reduction for post-April 2014 agreements, 21% for pre-April 2014) and the commission paid, plus compensatory interest at Bank of England base rate plus 1% per year.
Scheme Timetable
Post-April 2014 agreements: Complain before 30 June 2026 → response by 30 September 2026 → payment by November 2026
Pre-April 2014 agreements: Complain before 31 August 2026 → decision by 30 November 2026 → payment by January 2027
Final complaint deadline: 31 August 2027
How to Complain
Submit your complaint to Secure Trust Bank Plc, One Arleston Way, Solihull, B90 4LH. Reference PS26/3. Include your full name, date of birth, address at the time of the agreement, vehicle details and a statement about undisclosed commission arrangements.
Related Lender Pages
Close Brothers Car Finance Claims
Advantage Finance Car Finance Claims
Frequently Asked Questions
Moneyway no longer exists. Can I still make a claim?
Yes. The brand has been wound down but the legal entity — Secure Trust Bank Plc — retains responsibility for complaints arising from agreements it originated. Complain to Secure Trust Bank directly.
I am not sure whether my agreement was with Moneyway or Secure Trust Bank. Does it matter?
No. Both names refer to the same legal entity. Submit your complaint to Secure Trust Bank Plc regardless of which name appears on your original documentation.
What if Secure Trust Bank cannot locate my agreement?
Request a Subject Access Request — Secure Trust Bank is legally required to provide all data they hold on you within one calendar month. This will retrieve agreement details even without the original paperwork.
Think You May Have a Motor Finance Claim?
The FCA estimates average compensation of around £830 per eligible agreement, but eligibility and payment amounts vary. Some customers may receive nothing. Complaints about agreements started from 1 April 2014 should be submitted by 30 June 2026 to be considered under the earlier timetable. Different dates apply to older agreements. The scheme is currently subject to legal challenge, so dates and payment timings may change.
