What are payday loans?
The Payday Loans industry serves people who are short of cash before their pay day. It offers you the opportunity to receive a fast cash loan which acts as an advance on your wages.
A payday loan is, therefore, a quick solution to short-term cash needs. It is a cash loan, paid directly into your bank account, designed to bridge the gap between now and your next payday.
Customers choose payday loans because they generally cost less than bounced cheque or overdraft fees, late bill penalties, or fees for missed credit card payments. They are also generally more desirable than having to ask to borrow money from family.
What can a payday loan be used for?
Anything! Most of our customers use payday loans to help cover emergency expenses that disrupt cash flow within a month as they were not planned for. They are also an affordable alternative to the unarranged overdraft charges some banks impose.
What is the value of payday loans?
We offer payday loans between £80 and £800, subject to status.
You simply need to fill in an online application and you will be advised in a few minutes exactly how much we will lend you. Your payday cash loan will then be paid directly into your bank account by means of priority same day payment.
Because payday loans are designed to bridge the gap between when you need money and when you are paid, we lend according to how much you can afford to pay back on your pay day.
Once the loan has been repaid you are able to use the service again as little or as often as you require. You simply need to fill in the short form from the Existing Customer page of our website.
Please note: payday loans are
short-term loans designed to help ‘Bridge the Gap’ until your next payday. Should your credit requirements be for a longer term, then this facility may not be your best option and we would suggest you seek a more appropriate loan facility.
What are the criteria to apply for a Payday Loan?
1) To be over 18 years old
2) To be a UK resident
3) To be in full time employment with your wages paid directly into your bank account
4) To have a debit card for the bank account your wages are paid into.
What is the process involved in applying for a payday loan for new customers?
You simply need to complete the online application. You will be advised in minutes whether or not you have been approved for the
cash advance.You will then need to electronically sign a Consumer Credit Agreement and your money will be transferred to you by priority same day payment.
Pay only £100 for an £80 loan.
1737.2% APR typical. The total amount payable of £100 is repaid on
your next payday (within 47 days) when we debit your account.
Back to FAQs