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frequently asked questions

Employer

• Money Cloud will provide you with a Deed of Collaboration – a simple agreement which defines the responsibilities of the employer and Money Cloud! Once we have executed this agreement we are ready to go!

  • Money Cloud will be responsible for creating awareness amongst your employees
  • But we need your help – we will ask you to send an e mail to them, a WhatsApp to the staff group and also put up our posters on your notice boards
  • We would also love to attend a staff meeting and set up an information desk at your offices for a couple of days to meet them face to face
  • But word of mouth also helps and we hope the good news spreads fast
  • Money Cloud requires employees to share their pay slips to ensure that applicants remain with more than 1/3rd after the instalment
  • We ensure that we obtain a sign off from either a supervisor or your HR team before we process an application, so you are always involved in the application process
  • Remember this is a partnership to support your teams so YOU are an important part of the process
  • We will work with your teams to design a process that works for both you and Money Cloud
  • On an agreed date we will send a simple invoice to ensure that you have plenty of time to include the deductions in your payroll
  • We are also capable of sending an SQL or any other agreed file format for you to upload directly to your payroll systems
  • We will need you to inform Money Cloud and where possible utilise final dues to settle outstanding loan balances
  • If the above is not possible just informing us will help us engage the staff early to service their loan
  • Money Cloud will take full responsibility for recovery for any outstanding balances from the staff
  • We make our forms available to your staff where they are so no disruption
  • We collect loan applications from staff and accept images sent via Whatsapp to expedite the process
  • Technology is on the way!

Employee

  • Once your employer has signed the Deed of Collaboration with us, we will make our registration and application forms available to you at your offices
  • Our forms are also available on our website
  • You will need to fill and return a one-time registration form so that we get to know you then for every loan you will fill in an application form
  •  Your loan application form will need to be endorsed by your HR/supervisor then we will pick it up along with some simple requirements and in less than 4 hours you will have your cash!  

Unless we have agreed with your employer the standard requirements are:

  • Passport size photo (one-time)
  • Copy of your ID/passport (one-time)
  • Copy of 3 months’ pay slips
  • Nope!

 

  • Nope!

 

  • Nope … but we advise that you maintain a good record with your CRB at all times
 
  • You can choose to pay your loan off in one month and up to a maximum of 6 months.
 

 

  • The maximum amount you can borrow is dictated by your pay slip
  • We always make sure that your repayments will allow you to take home at least 1/3rd of your basic pay so you can continue to “cheza kama wewe!”
 
  • Mmmmmhhhh – that is a tough one! We negotiate our interest rates with your employers and so we do not have standard interest rates
  • We calculate our interest on a flat rate basis but for amounts above Kes 100,000.00 we calculate on a reducing balance basis
 
  • Unfortunately we only lend to employees of companies where we have an agreement
  • But you can help by talking to your HR or Finance teams and linking us up so we can make a presentation to them and get the agreement signed
  • We could even agree on a commission!
  • However, if you work for a bank, please call us! We have a solution for bankers! 

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Money Cloud is a specialised personal financial services provider that caters to the short term financial needs of salaried workers in partnership with the enterprises they work for

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