A short term loan is designed for emergency or unexpected expenses. They are used as solutions to short term cash flow emergencies. Loans are repaid, with accrued interest, over 1 to 5 Instalments.
Short term loans should only be used for short term financial needs and are not appropriate for longer term borrowing or if you are in financial difficulty.
With Payday Express you could be approved from £100 - £1,000³ as an existing customer (up to £650 for new customers. Subject to status and affordability.
To be eligible for a loan you will need to:
Unfortunately we cannot lend to you if you are paid by cash or cheque. Your wages need to be paid into your bank account via bank transfer.
Yes you do, we cannot lend to you unless you have an active debit card that links to your salary account.
No you don’t have to be a homeowner, however you must have a fixed UK address.
Of course, as long are you are living and working in the UK.
We require your wages to be paid directly into your bank account, so unfortunately we cannot lend to you if you are self-employed.
Yes we will consider your application, as long as you are earning £750 or more per month after tax providing you meet our lending criteria, credit and affordability assessments.
Yes we will consider your application if you are paid weekly. Don’t worry, we will not require payment(s) from you until your fourth payday after you have received your loan, and every four weeks after if your loan is to be re-paid in more than 1 instalment.
Yes, if you would like to repay your loan early you can do so at any point. Repaying your loan early will reduce the total amount of interest you have to pay. You can call our customer services team on 0800 652 4661¹ to get an early settlement figure.
We are not able to consider applications unless you are receiving a minimum of £417 per month after tax either from permanent employment or from a pension or disability benefit/living allowance.
We can only lend to you if your salary is paid into your own account. You will also need to have a debit card linked to that same account.
At Payday Express you have a one page application form that is straight forward to complete. Once we have carried out our credit and affordability assessments, we will tell you if you have been approved.
Upon approval you will be asked to:
If you have had a loan with us in the past, go to the account management page of our website and complete the brief application form. All loans will be subject to our credit and affordability assessments.
The majority of our customers will get their money transferred on the day they apply. However, as a responsible lender, we may take additional steps to verify your details following the submission of your application and agreement.
If we need to contact you to verify any details, your funds will be transferred after successfully verifying these during our working hours of 8am to 7pm Monday to Friday or 9am to 4pm on Saturdays. Subject to any final checks, applications completed prior to 5pm on a working day should still be transferred the same day, and those made after this time will be transferred by the following working day. We deposit all our loans using Faster Payment Service2, which means you could have the money in your account within 2 hours, but should be cleared by midnight. Some banks may not accept Faster Payments. This is subject to final checks (or next working day if application is received after 5pm). This is free of charge.
Please note, if we are unable to complete the necessary verifications, it may result in a delay in the transfer of the funds to your account, or even a retraction of the loan offer.
We will contact you (via email, text or phone call) to advise when your funds will be transferred to your bank.
There is no charge for depositing your loan.
We may need to contact your employer to verify your employment, however we will never disclose who we are, why we are calling or where we are calling from.
If possible, please apply with a direct telephone number for your place of work. We will only ever use this to verify your employment.
If we cannot verify your employment then there is a chance that we may need to see a bank statement showing your most recent salary crediting your account.
We will carry out credit checks on all applicants. These checks help us to verify the information you have provided on your application form and make a lending decision.
Your credit history may affect our decision. You can help by making sure the information on your application form is accurate. We try to consider all circumstances fairly but we may not always be able to offer all applicants a loan, even if you have borrowed with us before. If we decide that we cannot enter into a loan with you the fact that you have applied for a loan may be recorded on your credit file.
If you are concerned about your credit report there are several companies, which may offer you the chance to see it for free, such as Experian Credit Expert.
Don’t worry, we understand that our customers could require a loan at any time of the month. If you apply for a loan with Payday Express 1-14 days before your pay date your first repayment won’t be until your following pay date
For example: If you received your income on the 28th of every month and apply for a loan on 22nd August, your first repayment will be the 28th September.
At Payday Express we charge:
A CPA is a type of automatic payment that you can set up using your debit card. The authority is linked to the bank account that your debit card is linked to.
A CPA authorises us to withdraw sums from your nominated bank account using a debit card in line with specifically agreed terms. These are fully disclosed and agreed through the loan application process.
Once agreed by you, a CPA allows us to take a series of agreed payments using your debit card without having to seek express authorisation for every payment. CPAs are often also used to collect renewal payments for things like vehicle breakdown services, insurance policies, gym memberships, mobile and broadband services or magazine subscriptions.
CPAs provide an efficient and convenient payment method for you. It is important, however, that you are fully aware of the commitment you are entering into when applying for and accepting the offer of a loan from Payday Express.
Payday Express does not accept CPAs linked to credit cards.
We will take payment(s) on the contractual date(s) using CPA. If your payment(s) fail(s), you will be able to contact us and make an agreement to use CPA for an amount less than the full balance as stated in your agreement (you will still owe us the remaining balance).
We will notify you of any failed payment(s).
So remember that we will be using this authority when managing the finances in your bank account. If you don’t this could lead to you incurring charges from your bank.
You can cancel your CPA with the bank or card provider or by contacting us directly on 0800 652 4661¹. If you advise the bank or card issuer and they have stopped permission for the payments you should also notify us.
Payment(s) taken prior to cancellation being received will only be considered for full, or part, refund at the discretion of Payday Express.
If you cancel your authority for the repayment of your loan with us, you will still be responsible for paying any money that you owe including any charges which may accrue. You will need to arrange an alternative means of repayment.
You are responsible for ensuring that any payments sent to us by any means reach us in time for these to be cleared into our bank account and allocated to your loan by the payment date(s).
You will have to pay back the full amount of credit and interest on your agreed repayment date(s) as detailed in your pre-contractual information and your loan agreement.
We understand that your personal and financial circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help. You can contacting us on 0800 652 4661¹.
It is important to get in touch if you believe you will not be able to repay. Missing payments may have severe consequences including making access to credit more difficult, and/or more expensive in future. When you borrow from us, we may give details of your account status and repayment history to Credit Reference Agencies (CRAs).
If you borrow and do not repay in full and on time, CRAs may record the outstanding debt, which could, in turn, adversely affect your credit history file at the CRAs.
If you are experiencing financial difficulty, please click here to find information on non-fee charging agencies that can provide independent advice.
Repayments will be aligned to your pay date(s). If for some reason this may vary, please let us know and we will endeavour to accommodate your requirements.
No, Payday Express do not charge fees on late payment. If you think that you will be unable to repay your short term loan however you need to contact us as soon as possible on 0800 652 4661¹ so that we can discuss the options available to you.
It is very important that you respond to our attempts to get in touch as if we cannot contact you, we have no way of knowing why you have not repaid. If you consider yourself in financial difficulty, then the earlier you get in touch the sooner we can help you.
If your pay date has changed, or you have a new debit card, please contact our customer services team on 0800 652 4661¹ or click here for Instant Messaging Support as soon as possible and we will make the necessary changes.
You can withdraw from your agreement without giving a reason. Your right to withdraw starts on the day after the agreement is made and continues for 14 days. If you wish to withdraw from the agreement you will need to notify us in writing by email or post or by calling us on 0800 652 4661¹.
If you would like more information about your right to withdraw or have any other questions, please do not hesitate to contact us.
If there is anything else you need help with or any questions we haven’t covered, then please call us on 0800 652 4661¹ where a member of our customer service team will be happy to help. Alternatively you can email us at firstname.lastname@example.org
For more details or to contact us now, please visit our contact us page.