FAQ's Frequently Asked Questions
- Fast Cash Loans
- No Faxing Documents
- No Security Needed
- No Hidden Charges
Before I apply for a loan
How long does the application take?
Applying for a payday loan is very simple and fast! It generally only takes five minutes from start to finish – this includes signing for your loan!
How much can I borrow?
You can borrow from £50 up to £1,250 depending on your personal circumstances, although this figure may be lower on your first loan with us. Money is sent into your account the same day!
| Amount Borrowed | Amount to Repay* |
|---|---|
| £50 | £62.50 |
| £100 | £125 |
| £200 | £250 |
| £300 | £375 |
| £400 | £500 |
| £500 | £625 |
| £600 | £750 |
| £750 | £937.50 |
| £800 | £1,000 |
| £1,000 | £1,250 |
| £1,200 | £1,500 |
| How Much Do You Need? | You Borrow | Repay on Payday* |
|---|---|---|
£50
£1,250
|
£200 | £250 |
Generally £25 is charged for every £100 you borrow with us. Representative 1940.5%APR
* Payable in a single payment on your next payday - Some lenders may charge varying APRs and varying fees
Can I get a payday loan?
If you are over 18, in full or part-time employment and earning more than £500 a month, you are likely to qualify. All you then need is a bank account for us to pay the loan in, with a debit card for you to repay!
You need to:
- Be over 18 years old
- Be in full, part-time or even temporary or contractual employment
- Be a UK resident
- Have a bank account with a valid debit card
- Be paid by direct deposit, into your account
- Take home over £500 a month
Check out How to get a Cash Advance for more information.
What information do you need?
Our simple online form only requires the following information:
- Your name and address
- Your date of birth
- Your contact telephone numbers and email
- Your work and pay details
- Your bank account and debit card details
Optional information can also be entered which means we can compare your details against more lenders, giving you a greater chance that your loan will be successful.
Why do you need all this information?
We are a responsible loan provider and this means that we need to verify:
- That it is you taking out the loan
- That you are in full or part-time employment and able to repay the loan
- That we put the money in your account and no-one else's account
- That you can repay us in a simple and hassle-free way
Do you credit score my application?
A credit score check is not necessary to apply for payday advances with Payday Power, however you will have a greater chance that your application will be successful with a check, as we will be able to compare your details with more lenders who require this information.
I have a bad credit history - will this affect my loan application?
Not necessarily. We look at each application based on your recent circumstances and your ability to repay the loan. See Bad Credit Loans for more information.
I don't have a debit card - can I still apply?
Sorry, we require you to have a debit card in order for us to take your loan repayment. If you don't have a debit card, we suggest you take out a logbook loan where the loan is secured against your car and is paid in cash on the same day.
Getting a payday loan
What do I have to do?
Complete our quick application online. If you are approved, you will be asked to submit your bank and debit card details and then sign your loan agreement. We will do the rest!
When will I receive my loan?
We will transfer the funds to your account on the same working day that your loan is completed, loans are paid in under 1 hour in most cases. Please note that some banks take up to 48 hours for money transfers to clear.
How will I get my money?
It’s paid directly into your bank account so you can access it as you would normally take money from your account - great in an emergency!
Can I have two payday loans at the same time?
As we compare your application details with all the top UK payday loan providers, it is possible, however it is not recommended. This is because we are a responsible loan provider and want to ensure you can easily pay what you borrow and a second loan will not help in this situation.
Can I Get Paid on a Saturday or Weekend?
Payday Power works in partnership with a number of lenders and during weekends we change our processes to maximise your chances of getting your loan paid into your account as quickly as possible. For more information, see our Weekend Payday Loans and our Saturday Loans pages.
Paying back my payday loan
How do I pay back my loan?
Easy – we take the agreed repayment amount from your debit card on your next payday – there's nothing else for you to do.
Can I defer my payment?
Yes - although after deferring the payday loan twice we will ask you to start reducing the balance. This will incur new charges for every month the loan is due – but still at our fixed rate – there are no additional charges.
My payday or debit card details have changed
If your payday has changed, or you have a new debit card, please contact the customer services team as soon as possible and they will make the necessary changes!
What if I have problems paying?
We understand that people’s circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help.
The most important things to note are:
- Don’t borrow money you don’t think you can pay back
- Talk to us and we will help as much as possible
Please correct the form fields in red above
1940.5%APR
Who's Borrowing?
"I found Payday Loans to be very thorough and efficient...I would recommend your service to friends."Audrey
Cash Loans
The loan process is extremely efficient at Payday Power, with a great deal of Cash Loans being approved every hour and thousands every day. Cash Loans with us are also the simplest kinds of loans to get approval for, and with us, we approve applications straight away. This means that for most applications, cash can be delivered directly into your bank account, so it should be available instantly.
