As COVID-19 spreads rapidly in the UK, we are doing everything we can to support our members. The measures we have taken so far include extending Sickness Insurance protection to our existing members, providing appropriate forbearance on Trezeo credit limits and general support and guidance via our customer support team and the confidential independent Help Line available as part of Trezeo Membership.
Our business continues to operate as usual
Our team are lucky enough to work from the safety of their homes and our service is fully online. This means that we are still able to service existing members, to onboard new members or assist them with any advice or support during these times. Our flagship Trezeo Membership product remains on offer with some adjustments described below and our complementary bundles remain available to provide the Wellness and the SickPay & Cashback bundles.
New credit assessments are suspended
Given the unprecedented public health emergency and resulting economic impacts being experienced across the world, we have temporarily stopped carrying out any new credit assessments. This means that, for as long as the situation lasts, new members will not be assessed to receive Trezeo Credit. We are taking this measure to ensure we treat our new members fairly - we want to avoid declining credit limits in a period when we are not able to properly assess their earnings, due to extreme volatility and potential isolation or furlough. This does not impact Trezeo Credit limits for existing members which remains in place.
In response the economic impacts of COVID-19 on the UK economy, in line with our values to support our critical independent workers and our regulatory obligations, we are committed to supporting our members with appropriate credit forbearance should they encounter financial difficulties as a result of the current crisis. We continue to communicate actively with our members and encourage any member who is worried about their financial situation or is experiencing financial difficulty to contact our support team who will deal with their situation sensitively and compassionately.
Confidential Help Line
We also encourage any members who are experiencing stress or who would like to access confidential support and advice to use the independent Help Line service that is provided. This is available 24/7 as part of your membership and 100% confidential. The Help Line offers access, in a language of choice, to counselling, legal, personal tax, medical and bereavement advice.
Dear Independent Workers, we thank you for powering our cities and our economy
Trezeo is not a bank. We don’t take risks with your money, and so your account won’t be covered by the Financial Services Compensation Scheme. Instead, we keep your funds in a safeguarded account available to you whenever you want it.
Trezeo Limited is authorised and regulated by the Financial Conduct Authority as a Lender (registration number 787052) and registered under the Payment Services Regulations 2017 (registration number 809375) for the provision of payment services. The Trezeo account is issued by PayrNet Limited which is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registration number 900036) for the issuing of electronic money.
Trezeo Limited is incorporated in Ireland (registration number 586176), with its registered office at NDRC, Digital Exchange, Crane Street, Dublin 8, D08 HKR9.