Frequently asked questions

Are you a lender?

Yes, we are the lender, not a broker

How long does it take to process my loan application?

Our application process has been designed to make sure you receive your loan as quickly as possible. Our quick application form, instant credit checks and one-hour bank transfer mean you could have your cash in no time at all (only if the faster payment option is chosen at a cost of £12).

Am I eligible for a payday loan?

You are eligible to apply for one of our payday loans if you are:

• Aged 18 or over
• Earn over £750 per month
• In permanent employment
• Have a bank account with a valid debit card
• Are paid monthly

What does a payday loan cost?

We use a flat rate of £30 for every £100 that you borrow. That means that if you take out a £200 payday loan you only have to pay back £260 on payday.

Why is the APR you state so high?

APRs were designed to make it easy for consumers to compare the cost of various high street loans. These loans are usually taken over a number of years, very different to a payday loan! As a finance provider we are required to display the APR of our loans even though are loans are not annual. For a better idea about how the interest on your payday loan would work, take a look at our loan example illustration.

Do you do credit checks?

As a responsible lender we do run a quick credit check on each potential borrower. Don’t let that deter you though. We are able to lend to the vast majority of applicants and we understand that some of our customers may not have clean credit histories.

I have a bad credit history, can I still apply?

Absolutely yes! We’re not interested in keeping you in debt, we just want to help you meet the cost of unexpected expenses when they arise. We base our decisions on your current status, not your history. As long as we think you’ll be able to repay your loan on payday you’ll probably be accepted.

How do I get my money?

When you apply for your payday loan we’ll ask for your bank account details so that we can deposit your cash. If you use one of the main high street banks you may get your cash in under an hour (only if the faster payment option is chosen at a cost of £12).

How much money can I get?

Our payday loans are available in any amount between £100 and £1000.

What if I can’t pay back my loan?

We know that circumstances can change so if you think you will have a problem paying back your loan please contact us as early as possible. The earlier you contact us the more likely we are to be able to work with you to find a repayment solution. In any circumstance you must contact us at least 24 hours before your repayment date.

Can I repay my loan early?

You are always welcome to repay your loan early.

Do I need a bank account to get a payday loan?

At the moment we require all borrowers to provide details of a UK bank account. This helps us speed up credit checks and minimises the amount of time it takes to get you your cash.

Can I apply even if I don’t have a debit card?

When payday comes around we need to be able to collect your repayment as simply as possible. For this reason we require a UK debit card (not credit card) for every loan that we provide.

What happens if I apply for my loan after 5pm?

If your Loan Application is received after 5pm between Monday and Thursday then your loan will be processed on the next working day. If your Loan Application is received after 5pm on a Friday then your loan will be processed on the next working day. All Faster Payment charges will still apply.

Do I have the right to cancel my loan?

You have the right to cancel your loan within 14 days of signing your loan agreement, by contacting us by phone, email or in writing. Upon receipt of your cancellation you will be required to repay the full loan amount plus any interest that has accrued without delay and no later than 30 days after cancelling your loan.

Will you require any further information?

The majority of applications can be processed without any request for further documents, however from time to time we may require further information from you in order to process your application. We simply want to make sure you can afford to pay back the loan on your next payday.

Will borrowing from Cash Until Friday affect my credit score?

Cash Until Friday reports all loan information to Credit Reference Agencies. If you repay your loan as promised this will be reported to CRA’s and may have a positive effect on your credit rating, however if you miss/make a late payment this will also be reported and may affect your credit rating.

My Application was declined because my card wasn’t authorised. What does this mean?

In order for us to process your loan application there must be at least £1.00 of available funds in your bank at the time of applying. No payment will actually be taken from your account, it is simply so we can verify your card. The card needs to be in your name and registered at the same address given in your application.

My Application has been referred, how long will it take to find out if I have been approved?

We aim to process applications as soon as possible, however sometimes we need further information in order to process your loan application. If we have asked you to forward further information to us and you have not already done so please send it to This e-mail address is being protected from spambots. You need JavaScript enabled to view it . We normally deal with any referrals within 24 hours.

How do I pay the £12 charge for Faster Payment Service?

If you choose to have your loan funded by Faster Payment Service, the charge of £12 will be deducted from your loan amount.

If you have a complaint?

If you are not satisfied with any aspect of our service, we would like you to tell us your concerns. You may contact us in any way which is convenient to you, including in person, by telephone, in writing, or by email.

Please follow the procedure detailed below:

• Upon receipt of your complaint, we will do our best to resolve it by the end of the next business day.
• If we can't do this, we will send you a prompt written acknowledgement of your complaint and tell you who is dealing with it.
• We will send you our full response within four weeks of receiving your complaint. We will include details of how, if you are dissatisfied with the way we have handled your complaint, you can go to stage 2 of the procedure by referring your complaint to our trade association. Our letter will explain that you will have ultimate recourse to the Financial Ombudsman Service if you remain dissatisfied after stage 2 referral - also that we will regard the complaint as closed if our trade association does not receive a reply from you within eight weeks of our full response.
• Our trade association will investigate your complaint and will provide you with a final response within four weeks of receiving notification of your continuing dissatisfaction.
• If you are dissatisfied with the final response from our trade association, you can ask the Financial Ombudsman Service for an independent review. Our trade association will enclose a leaflet from the Financial Ombudsman Service in their final response letter to assist you if you decide to pursue this further course of action. You should contact the Financial Ombudsman Service within six months of receiving the final response from our trade association.

Contacts

Financial Ombudsman Services (FOS)
South Quay Plaza
183 Marsh Wall
 London
E14 9SR
Tel: 0845 080 1800
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

What can the loan be used for?

A payday loan is a cash advance which should only be used as a short term solution to a financial emergency.

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