Frequently Asked Questions

Who pays if Art Money is interest free?

Our partner galleries provide a commission to Art Money, up to 10%, enabling the no interest business model. In return, they are paid immediately, the artist gets paid, Art Money takes the repayment risk, and you take your art home to enjoy now, whilst paying over time.

A win win, supporting artists, galleries and a sustainable creative economy.

What does the application process look like?

1. Apply
Applications are made online and only take a few minutes. Most people are approved in real time (a matter of seconds). Should your application be referred for any reason we will be in touch promptly. You will be asked to provide some standard financial information at this point.

2. Choose
When you are ready to buy a specific artwork, log in (or stay logged in), select the gallery you are purchasing from and the purchase amount. This will take another minute. You will also select your preferred payment method (bank account or credit/debit card) at this point.

3. Buy
Once the gallery has confirmed the price and received your deposit, you may take the work home.

Are there any setup charges or ongoing fees?

There are no setup charges, account fees or ongoing fees to use Art Money.

We want to help you buy the art and support artists!

Will my application impact my FICO/credit score?

Applying for Art Money credit is a 'soft inquiry' which will not impact your FICO®/credit score.

Your first Art Money purchase and your repayment patterns may have a small impact (positive or negative) on your credit score.

Am I eligible for Art Money credit?

To be eligible for Art Money Credit, you will need to:

  • Be an individual applying in your own name
  • Be a U.S. citizen or resident, of minimum signing age in your State of residence
  • Have an income of at least $30,000 p.a. from all sources, including investments
  • Provide your Social Security Number (last 4 digits)
  • Provide current Photo ID (eg U.S. passport, driver's license or other Photo ID)
  • Have a clear credit history (no dishonors, defaults, court judgements or bankruptcies within the last 5 years and not be an undischarged bankrupt)
  • Have a nominated bank account or credit/debit card for repayments.

Art Money is not available at this time for companies, partnerships, trusts, corporations or institutions.

What is my credit limit?

Art Money provides interest free credit from $1,000 to $50,000.

Art Money is a responsible credit provider so exactly how much you are able to borrow will depend on a number of factors that we assess including your income, credit history and your ability to repay. The maximum outstanding balance you can have with Art Money at any one time is $50,000. This may be spread across multiple purchases.

How many repayments will I need to make?

Payment is spread over 10 monthly installments. Your first payment is the deposit paid directly to the gallery.

Your Art Money credit covers the remaining balance of 9 equal payments over 9 months, no interest. Your first repayment to Art Money will be debited one month after purchase.

For example with Art Money credit, an artwork that costs $5,000 is only $500 per month over 10 payments (the first payment is the deposit).

How do I apply and how long will the application process take?

Applications are made online, take only a few minutes and most are approved in real time through our secure fin-tech process.

You can apply for Art Money credit any time so you are ready to go when you find a work you love. Or apply for Art Money on the spot at the gallery or art fair, when you find the work you’d like to purchase.

Once you’ve set your art budget and been approved, using Art Money credit for future purchases is even easier and faster (a minute or so). You may create a new purchase, make multiple purchases or apply to increase your credit limit at any time.

What happens if my application is referred?

An application may be referred for a number of reasons, including being unable to identify you or verify your personal details - it's not uncommon. We may contact you for more information - we'll try and do that as soon as possible, often within hours. If your application is urgent - for example you are at an art fair making a purchase, please let us know via email or by calling us on +1 888 886 8725.

How are repayments made?

You may choose to make your repayments from your bank account (preferred), or with your credit/debit card. Art Money accepts Visa, Mastercard and Amex.

The first payment is the deposit (minimum 10%) made directly to the gallery by any method they accept.

The remaining 9 payments are set up automatically to make it easy for you. Your first payment to Art Money will be processed one month after your purchase is confirmed by the gallery. You will receive a reminder email a week prior to each repayment.

What can I buy?

You can buy any artwork available for sale from our partner galleries. There are no restrictions on the kind of artwork you can purchase.

Where is Art Money available?

Art Money is offered by over 800 partner galleries globally, growing daily.

It is currently available for residents of the U.S., Australia and New Zealand. Visit the Find a Gallery page and sign up to the e-news or Instagram to see works available from our partner galleries – and if your favorite gallery or one you'd like to buy from is not yet offering Art Money, let them (and us) know and we'll be in touch.

Can I buy more than one work?

Yes, you can use Art Money to buy multiple artworks at any time, as long as you are within your Art Money credit limit.

Can I increase my limit at any time?

You may apply to increase your credit limit at any time via your Art Money dashboard. In most cases your application will be reassessed in real time with a decision in only a few seconds.

What if I can’t come to the gallery in person?

If you would like to use Art Money but are unable to visit the gallery in person, you may need to be identified by Art Money prior to completing your purchase. Please contact Art Money or the gallery and we will facilitate the identification process.

Do I own the work whilst it is being repaid?

Yes, once your credit has been approved and you pay your deposit you own title in the work. As part of the Credit Agreement Art Money does hold a Security Interest over the artwork until it has been fully paid off (much like a home mortgage).

Can I use Art Money to buy a work that costs more than $50,000?

Yes, as long as the amount of your credit is no more than $50,000 or your approved limit.

For example an artwork that costs $75,000 could be paid for with a $30,000 deposit and Art Money credit for the balance of $45,000 ($5,000 x 9 payments).

Where can I view my purchase and account details?

You may review your purchase details and account history, check your outstanding balance and view upcoming payments at any time by logging into your Art Money account and navigating to ‘Current’ on your user dashboard.

How do I change my repayment method or schedule?

If you would like to change your repayment method, please contact us at accounts@artmoney.com or on 888 886 8725.

Can I pay my account off early?

Yes, you may pay some or all of the outstanding balance of your account at any time and there is no penalty for doing so. To do this simply contact Art Money at accounts@artmoney.com or call us at 888 886 8725.

Do I need to insure the artwork?

Yes, you will need to keep the artwork insured as part of the Terms and Conditions of the purchase. Most household insurance policies will be adequate.

Can I buy a work in foreign currency?

Yes, Art Money allows for purchases in different currencies. Your purchase will be converted to US dollars (USD) calculated at the exchange rate at the time you accept the contract and your repayments will be made in USD.

Can framing, shipping, installation etc be included in the artwork price?

Yes, these can all be included in the final artwork price. Before you finalize the purchase, it is good practice to confirm with the gallery that everything is included in the final price - tax, shipping, framing etc. as there may sometimes be reasons galleries want to invoice separately for those items.

What happens if I have a problem making a repayment?

Please contact Art Money as soon as possible to discuss your circumstances - accounts@artmoney.com or +1 888 886 8725.

We understand life is sometimes not straightforward and sometimes things happen. Our primary focus is always on helping you enjoy your art and so we will do everything we can to be flexible, however the sooner we can have an honest and open discussion the better.

Why does the gallery/Art Money need to take a copy of my photo ID?

Art Money has a legal obligation to identify clients accurately under U.S. anti-money laundering and counter-terrorism finance laws - this process is known as KYC (Know Your Customer).

What if I have a complaint?

Art Money has both internal and external arbitration procedures that are intended to deal with any client complaints.

If you are a client and have a concern or complaint then you should first contact us at 888 886 8725 or complaints@artmoney.com

If we are unable to resolve your complaint, Arbitration procedures may be commenced under the Federal Arbitration Act. These processes are detailed in the credit contract that forms part of our Agreement.

Who is behind Art Money?

Founded by Australian art entrepreneur Paul Becker, Art Money is a privately held company that grew from various art initiatives of Paul’s Australian business 10 Group, specialists in contemporary art engagement.

Paul is passionate about empowering people to discover and purchase art - supporting culture and a sustainable creative economy.

In its first year Art Money was supported by the City of Sydney as part of their Cultural Policy and Action Plan.

Today Art Money operates across the US as well as Australia and New Zealand, and partners with over 800 galleries globally.