1-19 Torrington Place
9th and 10th Floors
London WC1E 7HB
Tel: +44 020 7679 1843
Season Ticket Loans
Season Ticket Loan Policy
Link to MyFinance online Application System
All UCL staff are entitled to apply for an annual interest free season ticket loan as long as their contract of employment or external funding is for a period which exceeds the expiry date of the ticket (i.e. a minimum of twelve months) and their net monthly pay is sufficient to cover the deduction of the loan.
Season ticket loans are available for the sole purpose of purchasing an annual season ticket for use in travel from home to work. The season ticket will cover relevant public transport costs but not any other costs of travel, for example it will not cover any costs associated with car use including parking. Use of the loan for any other purpose could lead to disciplinary action. Loans are made in the form of a salary advance via UCL's MyFinance module.
If you do not have access at work to a PC then you must complete the ‘Season Ticket Loan delegated responsibility’ form (all staff can access their UCZ**** email accounts and MyFinance via a PC within any of the cluster rooms across the campus). Once completed this form will have to be given to someone who is a MyFinance authorised approver within your faculty, or department. That person will have to apply online, on your behalf, for your season ticket loan and you will need to access you UCL email account to confirm your agreement to delegating this responsibility. If you have forgotten your login ID or password then you will need to contact the IS helpdesk:
The Helpdesk can be contacted in person on the ground floor of the DMS Watson Library
Telephone number 020-7679 5000 (X 25000 within UCL), this is the most effective way to report urgent faults and deal with queries that demand a faster than 24-hour response.
Use URL: www.ucl.ac.uk/isd/servicedesk for any queries and comments that do not require an immediate response. We aim to reply to e-mails within 24 hours of their arrival
Please refer to the Terms and Conditions in section 4 below for further details.
3. Application procedure
If you are applying for a season ticket loan you should follow the procedure outlined below. Firstly, if you are going to apply for a season ticket loan you will need to provide, for all applications, either:
- a URL link to the web page showing the cost of your season ticket e.g. http://www.tfl.gov.uk/tickets/14416.aspx or,
- a saved screen print of the web page with the ticket cost [press PRINT SCREEN/SYS RQ key next to the F12 key. In PRINT KEY window, click SAVE and save as A Word document in your own directory].
- If your application is a renewal of your annual season ticket loan then you will need to provide a scanned copy of your previous season ticket or a receipt for the ticket. If you no longer have either of these then we can accept an alternative proof of purchase such as a bank or credit card statement showing the purchase of the ticket.
You should ensure you have scanned your ticket/receipt and/or saved your screen print web pages prior to beginning this application process. If you don’t, you will probably be timed out during the online application process whilst undertaking those processes.
Use the link at the top of the page to log into MyFinance. If you are already an authorised signatory on MyFinance, at the screen headed NAVIGATOR, click on INTERNET EXPENSES. If you are not an authorised MyFinance signatory, you will already be on the correct initial screen.
1 On the screen headed EXPENSES HOME click on the CREATE EXPENSE CLAIM button on the right hand top corner of the screen
2 Enter ‘Application for an STL’ in the PURPOSE box
3 In the EXPENSE TEMPLATE box use the drop down list to pick UCL SEASON TICKET LOAN
4 Important – check that the REIMBURSEMENT ACCOUNT box has the correct name of your bank account and underneath it are **** and the last 4 digits of the bank account you want the STL to be paid into. If the account number or name is wrong, click on the TORCH symbol and choose another account previously set up. You cannot amend the name of the account in this field nor set up an account not previously notified to Finance Payables Team. Once agreed click on NEXT button
5 On the step 2 of 4 page enter todays date using the calendar box or in the format DD-MMM-YYYY. In EXPENSE TYPE box use the drop down list to select SEASON TICKET ADVANCE, enter the loan amount required and then click on DETAILS box to proceed to enter details of the ticket required
6 Enter details of stations TRAVELLING FROM and TRAVELLING TO and enter Y in the T&C AGREE box. Important – Before the loan is authorised a check will be made of the ticket price between the stations or zones entered and whether your known address correlates to the ‘travelling from’ station.
7 In JUSTIFICATION box enter – STL TRAVEL TO WORK
8 Click on ADD button. Enter STL TRAVEL TO WORK in the DESCRIPTION box, and either:
- Click on URL button and attach the URL link to the web page showing the cost of your season ticket e.g. http://www.tfl.gov.uk/tickets/14416.aspx or,
- Click on FILE button and attach your previously saved screen print of the web page with the ticket cost or,
- Click on TEXT button and enter ‘no attachments – hard copy documents have been sent’
9 Click on APPLY button
10 Click on RETURN button
11 Click on NEXT button
12 On step 3 of 4 page check you have applied for the right value STL and if so click on the NEXT button
13 On step 4 of 4 page again check you have applied for the right value STL and if so click on the SUBMIT button
You should now have a summary screen with the expense report number and the value of the STL applied for immediately under CONFIRMATION at the top of the screen
Using the MyFinance module will not require any authorisation by your manager or a departmental authorised signatory. However, as part of the application process checks will be performed to confirm you are:
- A current employee of UCL
- On an open ended contract with a funding end date which is at least 12 months in the future
- That you do not have a leaving date within the next 6 months
- That your pay is sufficient to enable monthly repayment
If your application meets the requirements of this policy then Payroll and Pension Services will receive an automated notification from MyFinance to authorise your application. Where this application is for more than £10,000 additional checks will be performed and you may be contacted prior to the authorisation if a taxable benefit may arise to you.
This process should be used whether for an initial application or for a renewal of a season ticket loan.
If you have a problem accessing MyFinance or need help using the screens within MyFinance, you must contact the MyFinance Helpdesk on 020 3108 3133, (internal ext: 53133) or via their Helpdesk email address; email@example.com. Alternatively, you can refer to the online help screens in MyFinance via the following link www.ucl.ac.uk/fis/help or, by viewing the online expenses booklet, specifically pages 18-23 of the guide; http://www.ucl.ac.uk/finance/p2p/iexp/iExpenses_booklet.pdf
Any questions concerning the terms and conditions of the STL policy can be directed to Emma Sweeney in Payroll and Pension Services, 1 – 19 Torrington Place. Emma cannot assist with any queries relating to access or screen issues within MyFinance.
Subject to you meeting wholly the terms and conditions of the policy your application will be authorised or rejected within 5 working days if all information is attached/uploaded or received.
UCL runs one BACS file a week to pay STL’s. You may review the status of your STL application by relogging back into MyFinance. If the status is PAID, this means it will be made the following Tuesday. UCL is unable to make payment to you outside of this BACS run.
Once the salary advance is made, it will be deducted by 10 equal installments commencing with the salary of the month proceeding that which payment was made.
The deduction will be itemised on your payslip as 'Season Ticket Loan Deduction'.
4. Terms and Conditions
- Application for a loan to purchase an Annual Season Ticket for travel between home and the place of employment may be made via UCL’s I-Expenses module and may only be made by a UCL staff member whose contract of employment or external funding is not due to end before the expiry date of the ticket.
- To be eligible for a loan both full time and part-time staff must have sufficient net pay to cover the monthly deduction of the loan.
- No further Season Ticket loan will be made until the respective season ticket loan has been discharged.
- The loan will normally be recovered from salary payments over a ten month period commencing with the pay period following the date of the advance. For clarification, UCL determine the payment date to be that which it releases the money from its bank account and not when your bank credits your account. This is because some banks can take over a week to credit an account following receipt of the monies.
- Staff will be expected to make arrangements for the purchase of the Season Ticket once the STL advance has been made. In cases where a Season Ticket is no longer required staff are expected to make arrangements to repay the balance on their loan account.
- In the case of termination of employment before the loan has been repaid, the outstanding balance will be recovered from the final salary payment. By applying for the loan, the borrower agrees to repay immediately any amount outstanding after such final salary recovery has been effected.
- In the event of loss of ticket it is the borrower's responsibility to effect replacement or arrange repairs. Recoveries from salary payments will continue unabated until the whole loan has been cleared.
- UCL reserves the right to refuse Season Ticket Loans to individuals at its discretion and the existence of this scheme does not confer any right on any person to loans or advances against salary for other purposes.
- The Season Ticket Loan scheme and any conditions attached thereto may be amended at any time but without prejudicing any agreement already in existence.
- UCL reserves the right to inspect Season Tickets upon request at any time during the year. Where no season ticket can be provided upon such a request, the outstanding loan will be deducted in full from the next available salary.