Start, change or stop your savings deductions

Step

1

Join Boom Community Bank

Before anything else, you'll need a free Boom Community Bank account. Download our app, follow the steps to join as a new member, and return here to start saving.

Step

2

Enrol to save

Start, change, or stop your savings deductions by completing the form below. If your employer is not yet a partner of My Money Box, the provision of these services depends on their collaboration.

Step

3

Applying for a loan?

If you wish to repay a loan through My Money Box, the first step is to apply for the loan. Once your loan is approved, we will work with your employer to set up convenient repayments through payroll deduction.

Step

4

Manage your money

Your employer will transfer the agreed amount of your pay directly into your Boom Community Bank account every payday. Return here to change or stop your savings contributions.

Payroll Deduction Authorisation

Use this form to authorise your employer to start, change or stop deductions from your pay under the payroll deduction scheme partnership with Boom Community Bank.

Please confirm your details

About your employer

What would you like to do?

Your authorisation and electronic signature

I authorise my employer, named above, to deduct the amount I have entered below from my pay and transfer it to Boom Community Bank under the My Money Box scheme. Enter '0' to stop deductions.

from my salary each pay cycle, with effect from:

Enter your name to complete the payroll deduction authorisation.

When completed and submitted, this webform becomes your payroll deduction authorisation. The amount you agree to will be deducted from your pay by your employer each pay cycle and sent to Boom Community Bank for allocation to your Boom account.

Boom Community Bank will retain the completed payroll deduction authorisation and make it available to the employer on request for audit purposes. Employers are never informed of the reason for a payroll deduction.

Fewer financial worries

Fewer financial worries

Unforeseen costs can become less of a worry when you have savings to cushion the impact. People who save money report better overall wellbeing, including feeling less stressed and improved mental health.

Easy online access

Easy online access

Log into your Boom Community Bank account anytime here or using the mobile app. With online banking, check your balance, download statements, transfer, and withdraw funds.

Affordable loans

Affordable loans

My Money Box could give you better access to Boom Community Bank loans. For your privacy, we don't tell employers whether deductions from your pay are for savings or loan repayments.

Watch your savings grow

Watch your savings grow

When you send your savings to Boom Community Bank instead of your everyday bank account, you may be less likely to dip in and spend them, giving you a better chance to save for the bigger things.

Testimonials

“ILG works with Boom to provide Save As You Earn [My Money Box] for our staff across all six of our sites in the South East, including our main hub in Manor Royal. We were concerned that some...”

Grace Lord , HR Manager, International Logistics Group Ltd. Read more

“Boom has been great in getting me support with what I needed—helping me manage my debts to be able to make them affordable. No request from them was too much, and the process was smooth. Gre...”

Connor, Member Read more

“Nothing short of incredible. I fell into the endless cycle of payday loans and poor credit choices from the companies praying on vulnerable people. I couldn't really see a way out but luckil...”

Jon, Member Read more

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