Initial Disclosure Document (IDD)

The Financial Conduct Authority (FCA) is the national independent regulator of financial services. 

The FCA legally requires us to provide you with an ‘Initial Disclosure Document’. This Document has a number of purposes, one of which is to ensure you are provided with essential information about us as a company, what we charge for our services, the products and services we offer and how we are regulated. 

It will also provide information on what you should do if you have a complaint and any details regarding the Financial Services Compensation Scheme.

About Wagonex

Wagonex is both authorised and regulated by the Financial Conduct Authority (FCA). 

Wagonex is a digital business that specialises in building, launching and managing vehicle subscription and e-commerce platforms for our partners. You can find more about our story and what we do on our website.

Our Head Office is located in Cardiff, Wales.

The products we use

As an FCA regulated credit broker we are able to introduce you to a range of lenders who can help you subscribe to or finance your vehicle and provide any other products/services that you may require, including servicing packages and vehicle maintenance. We work with some of the UK’s most prominent and trusted finance providers in order to help secure you the best and most appropriate deal.

Our services

We will provide you with either comparable details of any firms most appropriate to your lending or purchasing needs or any other general information relating to finance products. In order to do this, we may seek personal information about your circumstances and objectives as this may be relevant in order to enable us to identify your exact needs and establish a line of credit. It is always important that you provide us with accurate and relevant information so that we can try and find a product or agreement that is most suitable to you.

The costs of our services, our remuneration and commission

As an FCA licensed organisation we rely purely on commission and extra fees, such as our transaction fees. The transaction fee is for our services, technology and marketing and is charged on delivery of your vehicle, and covers costs incurred by Wagonex. If you order a vehicle, you will enter into an agreement with one of our supply partners. 

We are also paid a commission by our insurance underwriter once an insurance policy is taken up. We receive a flat fee of 10% of the policy value and may impact the amount payable by the customer.

If you would like more Information in regard to the disclosure of commission, please email

Who regulates us?

Wagonex Ltd is regulated by the FCA. You can verify this by checking the FCA Register on the website: or contacting them on: 0300 500 8082. Our firm reference number is 789510.

What should I do if I have a complaint?

If you are unsatisfied with the service we provided for any reason then please visit our dedicated Complaints Procedure page. Firms directly authorised by FCA and the Claims Regulator have a documented complaints procedure and a copy of ours will be made available to you upon request, or if you make a complaint against us. 

Should you have a complaint, please put it in writing to: The Complaints Team, Tramshed Tech, Pendyris Street, Cardiff. CF11 6BH. Telephone 020 3002 0976, or email

In the unlikely event that a complaint remains unresolved after 8 weeks from the date it was made, you may be able to refer it to the Financial Ombudsman Service (FOS), dependent upon the nature of your complaint. 

The FOS provides a mechanism for resolving disputes which is a simple, informal and accessible alternative to the courts. Their address is: The Financial Ombudsman Service (FOS), Exchange Tower. LONDON E14 9SR. Email: Tel: 0800 023 4567 (free), or 0300 123 9123 (costs no more than calls to 01 and 02 numbers).

The financial services compensation scheme (FSCS)

As with all firms directly authorised by FCA, Wagoenx Ltd is covered by the FSCS.

This is the body established to operate and administer the compensation scheme, set up by major insurance companies, to compensate consumers when authorised firms are unable, or likely to be able, to satisfy claims against them.

Insurance advising and arranging is covered for 100% of the first £2000 and 90% of the remainder of the claim without any upper limit.

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