Bank statement charge
What is a PREMFINA Direct Debit on my bank statement?
Who charged you
PremFina monthly payments for insurance bought through a broker
PREMFINA is PremFina, a UK lender that pays for an insurance policy upfront and collects the cost back in monthly Direct Debits. The payment is usually an instalment for car, van, motorbike, home or business cover that a broker set up on monthly payments, often with the broker's name after PREMFINA.
How it can show on a statement
PREMFINAPREMFINA [BROKER NAME]PREMFINA-[BROKER NAME]PREMFINA SWINTON
4 more ways it shows
PREMFINA MARMALADEPREMFINA-DARWINPREMFINA-CNASHPREMFINA-TICKER
Find out what it was
- 1
Read the word after PREMFINA: it is usually the broker that arranged the cover, sometimes shortened, so CNASH is Carole Nash.
- 2
Search your inbox, spam folder and post for a PremFina welcome pack; it holds the credit agreement and a schedule with the date and amount of each payment.
- 3
Go through every policy you pay monthly, such as car, van, bike or home insurance, and look for one that started or renewed about a month before the first payment.
- 4
If the amount changed, think back to any change to that policy around then, such as a new car, a move or an extra driver.
- 5
Ask anyone who shares the bank account whether they bought insurance through a broker and chose to pay monthly from this account.
- 6
Still a charge you did not agree to? File your complaint here. We write it with you and send it to PremFina, so you do not have to chase it yourself.
Not in any of your accounts? If nobody in your household made it, someone else may have used your card details. Your card issuer can stop the card, so the charges do not continue.
Why does it say “PREMFINA”?
When you choose to pay for a policy monthly, many brokers do not collect the instalments themselves. PremFina pays for the policy upfront and you repay PremFina under a credit agreement that is separate from the insurance. PremFina takes the Direct Debit, so the statement shows PREMFINA, and depending on the broker also the broker's name, for example PREMFINA SWINTON, PREMFINA-DARWIN or PREMFINA-CNASH for Carole Nash.
The deposit you paid when you bought the policy is not part of this line: with brokers such as Ticker it shows under the broker's own name, while the monthly payments show as PREMFINA-TICKER. Some brokers that used Close Brothers Premium Finance, such as Darwin, now arrange new monthly plans with PremFina, so after a renewal the same policy can switch from a Close line to a PREMFINA line.
Why you might see this charge
- The regular monthly instalment for car, van, motorbike, home or business insurance that a broker set up on monthly payments.
- The first instalment, often taken about a month after the policy started; the deposit you paid the broker shows separately.
- A renewal or a new policy with a broker that moved its monthly payments from Close Brothers to PremFina, so the line changed from Close to PREMFINA.
- A higher or lower amount after a change to the policy, such as a new vehicle, a new address or an added driver, which changes the instalments.
- A second attempt within 7 to 10 days after a Direct Debit failed; a missed payment can also bring a default fee for personal customers.
- An amount still owed after the policy was cancelled, such as a cancellation fee that some brokers add to the PremFina agreement.
Is PREMFINA legit?
Yes. PremFina Limited is a UK premium finance lender, registered in England and Wales with its office in London. It pays the broker for your policy upfront and collects the cost back by monthly Direct Debit, and broker pages say it works with more than 100 insurance brokers, including Swinton, Marmalade, Darwin, Carole Nash and Ticker. A PREMFINA line normally follows a policy bought or renewed through the broker named on it.
PremFina lends the money and your insurer provides the cover: the credit agreement and the policy are two separate contracts, and PremFina only deals with the agreement. Texts or emails in PremFina's name that ask for bank details through a link are something else; check any payment against your own welcome pack and payment schedule.
Other charges people look up
| On your statement | Who charged you | What it usually is |
|---|---|---|
| HMRC NDDS | HM Revenue & Customs | HMRC NDDS is a Direct Debit to HM Revenue & Customs, collected through its National Direct Debit System. |
| PAYMENTUS.COM | Paymentus | Paymentus is Paymentus, the company that runs online and automated bill payments for many utilities, cities, insurers… |
| H3G | Three | H3G is Three, the UK mobile network, whose company name is Hutchison 3G UK Limited. |
| VIOC | Valvoline | VIOC is Valvoline Instant Oil Change, the quick oil change chain where you stay in your car while it is serviced. |
| AWP P&C SA | Allianz | AWP P&C SA is the Allianz Partners insurer behind Allianz Assistance and many policies sold under other brands. |
| NEWDAY LTD | NewDay | NEWDAY LTD is NewDay, a UK lender behind the Aqua, Marbles and Fluid credit cards, Argos Pay, the John Lewis… |
| HOME INSURANCE LBIS | Lloyds Bank | HOME INSURANCE LBIS is Lloyds Bank Insurance Services, the Lloyds Banking Group company behind Lloyds Bank, Halifax… |
| DOXO* | doxo | DOXO* or DOX* before a company's name means a bill was paid through doxo, an independent bill pay service, not… |
Questions about PREMFINA
What is PremFina on my bank statement?
PremFina is a UK lender that spreads the cost of insurance bought through a broker into monthly Direct Debits. A PREMFINA line, often followed by the broker's name, is one of those instalments.
Why does my statement say PREMFINA SWINTON?
PremFina adds the name of the broker that arranged your policy, so a Swinton policy paid monthly shows as PREMFINA SWINTON. Policies from Marmalade, Darwin, Carole Nash and Ticker show in the same way.
Why did my insurance payments change from Close to PremFina?
Some brokers that used Close Brothers Premium Finance now set up new monthly plans with PremFina; Darwin, for example, uses PremFina for policies that start after a set date. A renewal or new policy can therefore show PREMFINA where it used to show Close.
Is PremFina my insurance company?
No. PremFina only finances the premium. Your cover is with the insurer your broker arranged, and the credit agreement with PremFina is a separate contract from the policy.
What if I did not agree to a PREMFINA payment?
File a complaint on Complain.biz. We write it with you and send it to PremFina, so you do not have to chase it yourself.
Based on
- How do I know what my monthly payments will be and when? (PremFina: PREMFINA and sometimes the broker's name on your bank statement)
- Who are PremFina? (PremFina)
- PremFina have collected an unexpected amount (PremFina)
- Why have my dates and scheduled amounts changed? (PremFina)
- What happens when I miss a payment? (PremFina)
- How will the payments for my insurance policy be shown on my bank statement? PREMFINA SWINTON (Swinton Help Centre)
- Who are PremFina and why are they taking my payments? (Swinton Help Centre)
- What do PremFina do when they set up my direct debit? (Swinton Help Centre)
- How will the payments for my insurance policy be shown on my bank statement? PREMFINA MARMALADE (Marmalade Help)
- When are my Direct Debit payments taken? (Marmalade Help)
- How will the payments for my insurance policy be shown on my bank statement? PREMFINA-DARWIN (Darwin Insurance Help)
- When are my Direct Debits taken? Close Brothers or PremFina by policy start date (Darwin Insurance Help)
- How will my payments show on my bank statement? PremFina-CNash (Carole Nash Help)
- Who are PremFina and why are they taking my direct debit payments? PremFina-Ticker and deposit as Ticker (Ticker FAQs)
- What happens to my PremFina loan agreement and payments if I cancel my insurance policy? (RAC, powered by Ticker)