QuickQuid (Quickquid.co.uk) prides itself in providing short-term loans for residents of the United Kingdom, and boasts of being one of the country’s premier online payday lenders. Its tagline is “Quick Loans to Suit You.” QuickQuid is a trading name of CashEuroNetUK, LLC, which is incorporated in the United States and has its head office in Chicago. This lender is notable for providing two borrowing options: FlexCredit, which you must repay between a month and 10 months; and Short-Term Loan, which allows you to borrow up to three pay periods.
APPLICATION REQUIREMENTS:
To apply for a QuickQuid loan, you must be over 18 years of age, have a permanent job, are a resident of the UK, and own a UK bank account with accompanying debit card. You are less likely to be approved if you have bad credit or are underemployed.
LOAN AMOUNT AND CHARGES:
If you are a first-time borrower, you will be allowed to borrow up to £1,000. For existing customers, the maximum loan amount is £1,500. Depending on your credit score, you will pay between £20 and £29.50 for every £100 borrowed. A £12 late fee is accrued with each missed payment.
PROCESS:
Loan amounts and credit limits are determined by your credit history and repayment ability. Upon approval, the funds can be sent to you in as quick as 10 minutes. If your bank does not support Faster Payments, you will receive the funds the same day as long as the approval comes through by 2:30 p.m. In most cases, provisional loan decisions may take up to 30 minutes, since they are subject to verification checks.
PAYMENT:
QuickQuid will debit your bank account or debit card for the full loan amount on the scheduled due date. You can access your account online to change your repayment schedule or payment amount. However, you cannot reduce the amount within two business days prior to the repayment date.
