The Service currently receives an average of 7,000 calls per month and, from 1 July 2012 the handling of these contacts will be undertaken by Money Advice Line staff at Turn2us’ contact centre near Cardiff in South Wales, where 46 new jobs will be created by 2014.
The team will also provide a new webchat service, adding to the number of ways people can access impartial advice.
Karen Broughton, marketing and service delivery director for the Money Advice Service, said: "We are committed to offering a Service that's free and accessible for everyone.
“Providing advice over the phone is an essential part of our Service and Turn2us has a great track record of delivery in this field. I'm delighted to be working with them to reach many thousands of people who will benefit from our help to better manage their money."
Alison Taylor, director of Turn2us, added:"The Money Advice Service is doing some great work and being accessible over the phone with free and independent advice is fantastic.
“We are very pleased to be one of its frontline providers and look forward to helping thousands of its customers in the coming years."
The contract was awarded following a competitive tender process and is worth £4m over three years.
