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Real reviews from our customers

I needed money to go on a hen party with friends. Thanks Readies you came through when I thought I was going to miss out. £300 in my account in 30 minutes.

Stacy

I had to go to court as I had a bit of a misunderstanding with the benefits office. Readies gave me £150 which paid for a suit and tie. Great service, I would definitely use again.

Kevin

I borrowed £800 and received it within the hour. I used this money to hire an immigration expert as I want to stay in England despite being deported twice in the last 5 years.

Abdul

Readies gave me £1500 in time for Christmas. None of my 7 kids fathers work so this saved Christmas and I bought them all new clothes and a new iPhone 6s for myself.

Kandice

Payday loans have gotten a rather bad press in recent years, but the financial product isn’t always the worst option. For those needing to borrow for a short period of time there’s often a lack of other available financial products, and the cost of taking out a payday loan would be substantially less than taking out a personal loan for a longer period or a higher amount than is actually required. Choosing a payday loan provider isn’t just about representative APR. Some lenders force you to borrow for a full 28 raftays, while others are flexible – this means that you might pay back less with a lender with a higher APR.

Is this type of loan just for those with bad credit?

Payday loans are traditionally thought of as products that only those in desperate circumstances take out. However the reality is quite different. Many borrowers have permanent jobs and simply need money to pay for unexpected expenses such as emergency repairs, while some even use payday loans to fund business borrowing.

More mainstream

Moves by the industry to become less unpopular, and increasing regulation from government, mean that payday loans are no longer associated with the loan sharks that once controlled the industry. Representative APRs are falling, and often today you’ll pay £20 or less for your loan in interest. The flexibility of payday loans is also increasing their audience, with instant access to the exact amount of funds required for the precise number of days at a set rate, making them ideal for those who want an easy to understand form of credit.

Big brand or small player?

While traditional financial institutions have avoided the payday market, several payday firms have built up their own brands and are now household names. Others are brand new in the industry, or are so small that it’s unlikely that you’ve ever heard of them before. Typically it’s best to go with whatever lender offers you the best overall rate for the loan you wish to take out, however if you think you might struggle to repay then choosing a lender based on customer experience is a better option. Big brands are often keen to improve their reputations, so sometimes offer better customer experience – but not always, so check the reviews first.

Is a payday loan long enough?

It’s important to ensure that you will be able to afford to pay back your payday loan in full with interest when repayment is due. Failure to pay back the lender can lead to loans ‘rolling over’ and fines being issued. Both can be incredibly expensive, and therefore it’s vital that you only take out payday loans when you know you’ll be able to repay on time. Consider other forms of borrowing if you need money for a longer period, such as bad credit loans, guarantor loans or credit cards.

Are there alternatives?

Short term credit doesn’t only come from payday loans. Credit unions often offer similarly short loans, although the application process is often more time consuming. Non-loan products such as overdrafts and credit cards can be a cheaper alternative, as can borrowing from friends and family. However the convenience and flexibility of payday loans means they are unlikely to go away, and can be your best option in some circumstances.

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5 most recent payday loan reviews

Review of Wonga
I found Wonga easy to apply online , no problems getting loan. unfortunately the 2 times I phoned customer services I was disappointed with lack of friendliness and felt like a nuisance! I paid off my flexi loan which ran over a period of three months . but when I applied for a second loan I was promptly refused and email stated do not try to reapply for a lower amount! as a previous lender and having paid off my first loan I was a little put off as a supposedly valued customer .none of my details had changed and there was no problem paying first loan. loyalty to customers who have paid off previous loans does not apply to Wonga unfortunately. all in all apart from refusal for second loan it was an easy company to apply online

Review posted by deborah ashman

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Pogo Loans
My own credit rating is awful so me and the wife borrowed money in her name and it went through okay with POGO. I was going to apply in my name but I don't want to risk making my credit rating worse with more declines.

We've paid one payment back already, we still owe them another one. Everything was easy enough, I'm not very good on a computer and I managed it all okay. I think it took me less than 10 minutes to fill in the forms.

They only offer up to £600 so there are better lenders if you need to borrow more but for us this one was great.

Review posted by Steve

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Uncle Buck
This was easy, I applied online and it was all quite straight forward. The form was simple enough, and all the information on how much I would need to repay was clearly shown.

The payments came out my bank when they were meant to. So it done everything that it said on the tin. Perhaps a little expensive but it got me out of a tight spot. I hope I won't need to use a payday lender again but if I do, I'd use this one.

I don't think they contacted my employer so its all discrete too. Not that it matters too much but I'd rather they didn't know their poor pay cheque isn't enough to last me to the end of the month.

Thanks, John

Review posted by John

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Lending Stream
i went to lending stream for a quick loan when I needed a lawyer. The loan service provided to me was fantastic. Just a few hours after applying online I had the money ready to spend. The loan was easy to repay with the per day interest rate.
The process was so fast which was great as I knew I had been accepted and could stop worrying about it. You also have the option to fully clear the loan early which would save you a lot of money. The loan from lending stream was great and I would use it again in the future.

Review posted by Theresa Richards

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Lending Stream
Lending Stream provided me with a loan 4 weeks ago and I just paid it back. It was easy to apply for a loan, the online application took me less than 5 minutes and I had been offered a loan later that day. The money was transferred to my bank within 2 hours ready to spend. I was really impressed with how quickly I had the money.
The loan was reasonably priced too due to the er day interest rate. I was able to save a fair chunk of cash by making bigger payments to pay it off a bit quicker. I can't stress enough how easy the loan was.

Review posted by Danny Johnson

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Compare PayDay loan providers

Loan amount?

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For how long?

months

You would like to borrow £100 over 3 months

The table below has been updated, with the cheapest lending option at the top.  Please use the Visit Site buttons to apply, or re-enter loan information for another comparison.
Please note only two lenders offer more than £1000. If you want a much larger choice, please lower the amount to £1000.
ProviderLoan AmountDays OverTotal RepayableGood Practice
Charter
(?)
Good Practice Charter

This indicates if the lender is signed up to the Good Practice Charter which encourages responsible lending from payday lenders and brokers.

User Reviews
Drafty
£100
90
£116

Rated 4.8 / 5 by
by 12 users

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Representative Example:
Representative 89.7% APR, and a maximum APR of 91.2%. If you draw £50 against your credit line at 89.7% APR, it would be paid off in 6 months for a total of £60.

Dot Dot Loans
£100
90
£122

Rated 4.9 / 5 by
by 17 users

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Representative Example:
£300 loan repayable over 6 months at £94.50 per month, Rate of interest 89% fixed; Representative 976.5% APR, Total Amount Payable is £567.

Satsuma Loans
£100
90
£144

Rated 4.9 / 5 by
by 13 users

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Representative Example:
Representative example: £400 loan repayable over 6 months. 6 monthly payments of £126.40. Rate of interest 179% p.a. fixed. Representative 991% APR. Total amount payable is £758.40.

The Money Shop
£100
90
£144

Rated 4.7 / 5 by
by 10 users

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Representative Example:
£300 borrowed for 6 months. Annual interest rate of 179% (fixed). Total amount repayable is £450.18 in 6 monthly instalments of £75.03. Representative 447% APR.

Tiger Loans Company
£100
90
£154

Rated 4.9 / 5 by
by 11 users

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Representative Example:
Amount of credit: £200 for 6 months, Interest rate: 219%pa (fixed), Admin Fee: £10, Total Repayment of £355.30, Representative 786.40% APR

MyJar
£100
90
£159

Rated 4.8 / 5 by
by 14 users

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Representative Example:
Borrow £500 for 6 months. Annual interest rate 238% (variable). 1 instalment of £142.10 & 5 equal instalments of £142.42. Total amount to repay £854.20. Representative 788% APR.

Money Boat
£100
90
£163

Rated 4.9 / 5 by
by 18 users

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Representative Example:
£400 loan for 113 days (4 instalments). Total: £597.48. Interest £197.48. Interest rate 255.5% pa (fixed). Repay £149.37 for 4 payments. Representative 939.5% APR.

Cashfloat
£100
90
£167

Rated 4.9 / 5 by
by 13 users

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Representative Example:
Borrow £500 for 4 Months, Four Monthly Repayments of £215.81 Total repayment £863.24 Interest Rate PA (fixed) 270.10% Representative APR 997%

Trusted Quid
£100
90
£170

Rated 4.9 / 5 by
by 15 users

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Representative Example:
Borrow £300 for 6 months. Repay with 6 payments – 1st £94.28, 2nd £110.15, 3rd £95.25, 4th £87.45, 5th £73.41, 6th £61.26. Total Charge for credit is £219.47 comprising interest only. Interest is set at a daily rate of 0.78% per day per £100 borrowed for the term of the loan (a fixed rate of 284% per annum). Total Repayable is £519.47.

Pogo Loans
£100
90
£172

Rated 4.8 / 5 by
by 17 users

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Representative Example:
Representative Example: Loan amount £300.00 repayable over 3 instalments. 3 instalments of £132.38. Total amount payable £397.14. Total cost of credit £97.14 Rate of interest 292% per annum fixed. Representative 1363.0% APR.

Lending Stream
£100
90
£172

Rated 4.8 / 5 by
by 17 users

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Representative Example:
Maximum APR of 1698.1%. Given a Representative APR is 1325%, if you borrow £200 over 6 months at 292.0% p.a. (fixed) your first repayment will be £33.60 followed by £96.00, £75.84, £66.88, £62.40 and £48.96 the following months. You will repay £383.68 in total, there are no additional fees.

Wizzcash
£100
90
£172

Rated 4.6 / 5 by
by 36 users

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Representative Example:
Borrowing £300 over 90 days, 3 x payments of £151.42, Total amount repaid: £454, Interest rate 292% (Fixed), Representative APR 1265%

Peachy Loans
£100
90
£172

Rated 4.9 / 5 by
by 14 users

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Representative Example:
Borrow £250 for 3 months. Total repayment: £379.44 in 3 monthly payments of £126.48. Interest p.a: 292.25% (fixed). Representative 1255.66%APR.

Whilst we make every effort to ensure that the information is up to date, you should always confirm the terms of the offer with the product provider.



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