FAQ

What is a payday loan?

A payday loan can also be referred to as a cash advance or cash loan. A payday loan is a short-term loan which is repayable on your next payday. Payday loans assist you in addressing emergency cash needs.

How do I receive the cash and when do I receive it?

If you are approved for a payday loan, the cash will be deposited directly into your bank account for your immediate access. Cash is usually deposited into your account within one business day of being approved for the loan.

Do I have to be currently employed to be approved for a payday loan?

Yes, you are required to be employed to be approved. A payday loan is designed to bridge the gap between paydays if you find yourself short on cash. You are required to pay back the loan on your next payday.

Can I apply for a second payday loan while I am repaying the existing loan?

No, you must pay off your existing payday loan before you can be eligible for another loan. This policy is in place primarily for your protection. Payday loans are designed to be a solution for short-term financial problems. Having more than one payday loan at a time is an indication of a more long-term financial problem that should be addresses in a fashion other than a payday loan.

Will my credit be checked?

Yes, credit checks are performed during the loan approval process. However, even if your credit score is poor, you can still be approved for a payday loan. Payday loans are intended to help even if you have poor credit.

Am I eligible for a payday loan if I am in overdraft?

No, a payday loan request is not eligible with an overdraft.

When do I have to repay my loan?

You are required to repay the loan when you receive your next pay cheque or on your next payday.

If I am approved can cash be deposited into my account on weekends and bank holidays?

No, unfortunately funds do not clear on weekends or on bank holidays. Be aware of the possibility of a delay in funds being transferred into your account on holidays and weekends when applying for a payday loan.

Am I eligible for a payday loan if I am between jobs?

No you will not be approved for a loan if your are in between jobs. You are required to be in employed regularly in order to qualify for a loan.

Can I choose the loan amount I'd like to borrow?

In the application process, you are given the option to choose your requested loan amount. Based on our evaluation of your application and your ability to repay the loan, we may offer you a loan amount equal to or less than the what you requested. You have the option to borrow the loan amount offered or an amount less than the amount we offer to lend.

How do I repay the loan?

The payment agreed upon during the application process will be debited from your debit card on your next payday.

What are requirements do I have to meet to be eligible for a payday loan?

In order to be approved for a loan you must:

• Be at least 18 years of age or over
• Be a citizen of the UK and be regularly employed
• Have a bank account which your pay is directly have a valid debit card
• Be paid monthly and have a minimum take home monthly pay of £750