 |
What is a payday loan?
A payday loan is a small advance which is repayable on your next payday – up to 30 days away. It is an easy way to borrow money for those who don’t want the formal and lengthy loan agreement procedure with a bank. |
| |
|
|
Do you run credit checks?
No. |
| |
|
|
What can the loan be used for?
Anything. |
| |
|
|
How much can I borrow?
New customers can apply for an advance between £100 and £400, existing customers will be offered a pre-authorised limit up to £1000. |
| |
|
|
What do I need to get a payday loan?
You need to be employed and have an active bank account with a debit card. |
| |
|
|
What if I’m self-employed?
We can help if you have a cheque book with a cheque guarantee card. |
| |
|
|
I have a CCJ – can I still qualify for a payday loan?
Yes, as long as you can satisfy us that you will have sufficient funds on your payday to repay your loan. |
| |
|
|
How long does it take to get the money?
Around 2 hours from receipt of the application. |
| |
|
|
How do I get my money?
The funds are electronically transmitted and are cleared into your bank account within minutes. |
| |
|
|
Do I need to fill in an application every time I need a payday loan?
No, but from time to time we may ask for supporting documentation. |
| |
|
|
Do I have to repay the loan in one go?
No, you have the option of extending your loan by paying just the interest. It is important to understand that when you extend your loan you are not paying anything off the loan amount, simply extending your full repayment. |
| |
|
|
Can I pay my loan off in instalments?
Yes. You can do this by asking us to extend your loan, once the extension fee has been paid you can then ask us to take an additional payment. The amount is entirely at your discretion and you can make your mind up on the day. Whatever you pay then comes off your loan amount and so there is less interest to pay. |
| |
|
|
What if I fail to repay my payday loan?
It is important that you inform us as soon as you think you will not be able to repay on time in order to avoid legal collection procedures. |
