What''s this late charge on my account?

We charge you for missing one of your scheduled payments. You can make this payment by logging in to your account or by following the link in one of the notification messages you''ve received from us. 

If you continue to miss payments, it will end up being more expensive for you because you''ll be charged for each missed payment. We don''t want this to happen so if you are missing payments for a reason, please get in touch as soon as you can so we can work through some options with you. 

We want to get you back on track as soon as possible and we certainly don''t want you getting into further financial stress. That''s why if you have an overdue payment we won''t let you buy anything else with us until your account is brought up-to-date. It''s also why we cap late charges at 25% of your purchase price.

When will my first payment be taken?

You''ll be asked to pay your first instalment when you use Knoma to pay for your course at the checkout. This will be clearly communicated to you prior to you confirming your order.

So, if you''ve chosen to repay your course in monthly instalments over the next 12 months, you''ll pay the 1st of 12 instalments at checkout. You''d then have 11 more instalments to pay, starting from the following month.

What happens if I can’t make a payment?

If you can''t make a payment, it will end up being more expensive for you in the long run because you''ll be charged for not paying on time. We also lose money every time we have to chase a missed payment or a late fee. 

We''ve set ourselves high standards and believe in lending responsibly. This is why we consider every application carefully before approving it. Essentially, we''re assessing whether you will be able to repay. We''ll also send you reminders when a payment is almost due so you don''t forget to pay.

If you still get into trouble, (it can happen to the best of us!), we will contact you immediately to see if we can help. If you are facing hardship, we''ll work with you to get you back on track.

As soon as you miss a payment, we will immediately stop you from making any further purchases with Knoma.  We give you till 11pm on the following day to make your repayment and then you will incur a late charge for a missed payment that is not resolved. This will be an initial £7.50 and a further charge of £10 if the payment is not made within 7 days. To protect you, our late charges are capped and will never go higher than 25% of the price of the item you purchased. This means we can stop people deliberately taking advantage of Knoma, and stop you from going into further financial difficulty. And this way you have an incentive to stick to your plan, so you never lose control of your money.

 

How do I apply to become a Knoma member?

 

  1. Choose the Pay with Knoma option at the checkout when paying for your course.
  2. Create an account with Knoma.
  3. Complete your purchase.
  4. Study period - time to upskill!
  5. Pay us back at your convenience (once a week, every two weeks, once a month)

What can I not use Knoma for?

Knoma is a FInTech built specifically for lifelong learning. Knoma can only be used at approved technology and coding schools.

Why do you need to perform an identity check on me?

Knoma conducts identity checks on all users to minimise our risk of fraud. The identity checks include the following: Know Your Customer (KYC) checks, Anti-Money Laundering (AML) checks, Counter Terrorist Financing (CTF) checks, Politically Exposed People (PEP) checks and other adverse checks.

onfido.com

I am a partner of Knoma. Where do I find the developer area to install the code on our checkout?

Checkout out partner and developer documentation

Documentation

I am an education provider how do I get into the Knoma marketplace?

All education partners of Knoma will automatically be added to the Knoma Marketplace. However, the Knoma Marketplace has the following asset specification, which we will request if these have not already been supplied:

1. 270 x 270px campaign image

2. Vector logo file

 3. A link to your homepage

 These can be sent over to us at support@knoma.io. Please note, if you do not have a design resource to resize an image in-house, then they can send us a large image and we will resize it for you. Same goes for the logo, if you do not have a vector then a large jpeg or png is fine.

Am I eligible to become a Knoma member?

To qualify as a Knoma member, you must:

  • Be at least 18 years old
  • Be a UK resident
  • Pass our credit checks
  • Be accepted on to an approved course at one of our partner institutions 

What is Open Banking?

Open Banking is the secure way to give providers (such as Knoma) access to your financial information.

Open Banking

What is the maximum repayment period available at Knoma?

Our maximum repayment period is 12 months.

What is the maximum credit limit available at Knoma?

Our maximum credit limit is £10,000.

 

Why am I still charged when I have cancelled the course?

First things first – once you have cancelled your course we need the education provider to accept the refund and for them to let us know. So we have to wait for this to happen before we can settle your account – otherwise Knoma would be left carrying the cost of any disputed cancellations and then we wouldn’t be able to provide you with this free service. We work with all our amazing education partners to try and make sure this process happens as quickly as possible – because that’s good for you. But we can’t control this and so we have to wait for our education partners to go through their proper process.

That means our agreement with you – your instalment plan – has to continue until we get final confirmation of a cancelation or refund from your education provider and our systems process your refund in the amount agreed between you and the education provider. And if you need help resolving a cancellation dispute with a education provider because you’re unable to resolve the dispute directly with them, please get in touch with us here and let us know what’s happening.

Who are TrueLayer?

TrueLayer is the company Knoma are using to confirm user''s income and expenses to meet responsible lending guidelines. TrueLayer is built on the Open Banking API, which was made into law in September 2018. On initial application 180 days of banking data is to our systems. TrueLayer is regulated by the UK Financial Conduct Authority (FCA) under the Payment Services Regulations 2017 as an Authorised Payment Institution to provide account information services and payment initiation services (Firm Reference Number: 793171).

truelayer.com

Is my data safe?

Knoma takes data security very seriously. All data is stored within our bank grade system with AES 128-bit end-to-end encryption.

We have a press enquiry. Who do we contact?

Please send all press enquiries to the email below

press@knoma.io

Why does Knoma use Cookies?

We use cookies for several reasons, one of those reasons is we need temporary store bits of information about you within the browser to create your application. This is not personal information, rather keys and checks about the application it''s self.

Knoma''s Cookie Policy

Who are Equifax?

Equifax is one of the largest credit bureau globally. Knoma uses Equifax to undertake a comprehensive credit check on all end-user. Equifax is regulated by the Financial Conduct Authority (FCA).

equifax.co.uk

Why does Knoma use Cross-Site Cookies?

The Knoma loan application and dashboard by default open within a window within our partner websites, so you can apply for a loan without ever leaving our partner site. This means we (knoma.io) cannot create and save cookies the website as technically you are still on our partner website, unless you give us temporary permission to do so.


We will promote you to turn it off when the application has been complete.

Knoma''s Cookie Policy

How do I request an increase in my credit limit?

All users of Knoma can request to increase their credit limit by logging into the User Dashboard. Here you will find the "Change Credit Limit" button. Please note, Knoma has a maximum credit limit of £10,000. If you wish to reduce your credit limit, this can also be changed here.

 

Who is Knoma for?

Knoma is for people seeking to upskill themselves in short, technical courses. We provide our users will the ability to source tech courses and to spread the cost of these courses without incurring any interest or fees. We are all about support people on their lifelong learning journeys.

How can I pay?

When you make a course purchase with Knoma you will be ask to select your preferred bank account, where our automated system, will take the repayments from over the agreed repayment frequency (monthly / fortnightly / weekly) and repayment terms (up to 12 months). When you have an instalment due, we will notify you beforehand so that way you can make sure that there is enough money in you account for that instalment and we do the rest. Alternatively, you can always make payments early by selecting the "Pay Now" button within the User Dashboard.

What do I need to sign up to Knoma?

As part of the application process you will need access to an official identity document. This can be any of the following: passport, driving licence or a national identity card. In addition, you will need access to your banking details to securely confirm your income and expenses via Open Banking.

More information on open banking

Can I change my registered mobile number?

Yes, you can change your registered mobile by logging into your account and verifying the new mobile number on the User Dashboard. Simply input your new mobile number. You will receive an SMS text (almost instantly) with a unique code, please enter the code into the dashboard and your new mobile number will be updated in our systems.

Is Knoma regulated?

Yes - Knoma is regulated by the Financial Conduct Authority (FCA). For more information on Equifax, please visit their website at https://www.fca.org.uk/.

Are you performing a credit check?

Yes, Knoma is performing a comprehensive credit check all users. Knoma has partnered with Equifax to perform the necessary credit checks.

visit equifax.co.uk

How is Knoma different to other private student loan providers?

At Knoma we believe firmly in protecting the user (student). That is why we have flipped the model and instead of charging the student interest and fees for spreading the cost of the course, we instead charge our partners the technology and coding schools. They are happy because ultimately, it leads to more student enrolments. In addition, Knoma is built around promoting lifelong learnings where individuals learn new skills throughout their career to ensure they are keeping up to date with modern technology as it become more prevalent across society.

Who are Knoma?

Knoma offers a payment solution and marketplace for lifelong learning. Companies Number 1650366 at the registered address of City Point, Level 11, 1 Ropemaker Street, London, EC2Y 9HT, UK.

What are Cookies?

An HTTP cookie (also called web cookie, Internet cookie, browser cookie, or simply cookie) is a small piece of data sent from a website and stored on the user''s computer by the user''s web browser while the user is browsing. Cookies were designed to be a reliable mechanism for websites to remember stateful information (such as items added in the shopping cart in an online store) or to record the user''s browsing activity (including clicking particular buttons, logging in, or recording which pages were visited in the past). They can also be used to remember arbitrary pieces of information that the user previously entered into form fields such as names, addresses, passwords, and credit card numbers.

Cookies can be accessed by any webpage if cross-site cookies are enabled in the browser, even if the website accessing the cookies is not the owner. In laymen''s terms, this means Facebook can see your purchases from Amazon by reading your cookies. This can pose as a security and privacy risk so certain browsers now disabled cross-site cookies by default.

Can I call and speak to someone?

Of course you can call us! We get that sometimes you just want to speak to someone directly. Our number is 0800 037 0289 and we''re looking forward to your call. We''re a small and energetic team so if your call is unplanned, you''re likely to reach us. If you can''t get through and need to speak to us urgently, you can send us a quick note via contact us or try searching our FAQs. If you''d rather book a time to chat, you can do that via our contact us page. We''re open 8.30am to 7.30pm Monday to Friday, 9.00am to 5.00pm on Saturdays, and closed on Sundays. Chat soon!