Updates from admin RSS

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  New You Tube Video Advert for Payday Loans

  admin 2:50 pm on August 25, 2010 | 0 Permalink | Reply
  

  Just thought we’d upload a link to our new payday loans video on YouTube.

  A simple 20 second video inviting UK residents to take a look at our website and apply. Payday Power fans who would also like to show this video on their webpages could add the following code:

  <object width=”425″ height=”344″><param name=”movie” value=”http://www.youtube.com/v/hGt3Zm45Sv0&hl=en&fs=1″&gt;&lt;/param&gt;&lt;param name=”allowFullScreen” value=”true”></param><param name=”allowscriptaccess” value=”always”></param><embed src=”http://www.youtube.com/v/hGt3Zm45Sv0&hl=en&fs=1” type=”application/x-shockwave-flash” allowscriptaccess=”always” allowfullscreen=”true” width=”425″ height=”344″></embed></object>

   

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  New Lender Added to Website

  admin 2:05 pm on August 23, 2010 | 0 Permalink | Reply
  

  Payday Power works with a large number of same day lenders and is pleased to announce the addition of Wage Day Advance to its list.

  As soon as an applicant applies with us for a loan, we compare the applicants details against all our lenders criteria in real time until we find a match.

  Now with the addition of Wage Day Advance, if we cannot find a lender who will accept their application immediately, we automatically send the application details through to Wage Day Advance, who claim to accept 85% of applications made to them.

  They will then contact the applicant by phone to help them with any additional questions they may have and to complete their loan as soon as possible.

  More good news is that even if we can’t directly help applicants out with a loan, but Wage Day Advance can, its loan charges appear to be the same as ours, which is a £25 charge for every £100 borrowed or 25% of the loan value.

   
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  Compare Payday Lenders for The Best Deal

  admin 1:56 pm on August 4, 2010 | 0 Permalink | Reply
  

  Payday Power has just added a ‘payday lenders comparison’ tool to its website. As Payday Power is a broker it may seem better for borrowers to go direct to the lender rather than a broker, but when it comes to payday loans, a broker can save borrowers a lot of time completing a lot of forms until they find a lender who wants to them the money.

  The comparison tool or chart is updated every day with the latest success rates and statistics sent back from the lenders. Lenders or brokers who are accepting more loans move higher up the rankings while lenders without enough money to lend or very strict lending rules drop lower in the rankings.

  It makes sense for borrowers to apply to the lenders with the highest rankings first which will give them the best chance of getting their loans approved and paid out.

  Check out the payday lenders comparison chart here.

   
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  Payday Plus Goes Auto

  admin 12:00 pm on July 26, 2010 | 0 Permalink
  

  Payday Plus, a leading broker of same day loans online, has just had a redesign of its website to reflect its new automated loan application process.

  Just like Payday Power, Payday Plus has automated it’s loan decision engine so that customers need only apply once through the website and have their application seen by all the top payday lenders in the UK, giving borrowers the best possible opportunity of getting their loan approved and as quickly as possible.

  Loans can be approved instantly and cash, up to £1,000 can be in borrowers accounts within 60 minutes and sometimes sooner.

  The new website sports a clean fresh and light design sprinkled with the occasional robot – suggesting the automated nature of the loan processes. No waiting around for phone calls, no faxing or emailing documents – customers get an instant decision right away after a 2 minute application.

   
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  Panorama Attacks UK Banks High Interest Rates

  admin 3:39 pm on July 19, 2010 | 0 Permalink
  Tags: apr (2), loans (2), money, overdraft

  “A Government minister has accused high street banks of ripping off consumers with hidden charges after research commissioned by BBC One’s Panorama found customers could face interest rates of 167% on overdrafts.”
  Source: BBC Panorama

  While this was far higher than the advertised APR interest rate, other consumers also complained about Halifax which charged a flat fee of £1 a day on unauthorised overdrafts, which on a £10 overdraft would equate to an APR of  £3,650%.

  In reply, Halifax gave a statement that customers “want a clear overdraft charging structure” and the £1 a day represents ‘a simple set of daily fees’. The bank said it offered a ‘buffer zone’ for overdrafts of less than £10 that is free and that the vast majority of its customers do not use their overdraft facility.

  Halifax have a point and as already stated elsewhere, APR or annual percentage rate is useful when comparing similar products, but an overdraft of £10 is unlikely to last a year and so the ’shocking APR is actually misleading, unlike the £1 a day fee which everyone can understand.

  In a similar note, our payday loans are charged at £25 for every £100 borrowed and are to be repaid in full on the customers payday or in some cases next payday.