Frequently Asked Questions

What is a payday loan?
A payday loan enables you to access money very quickly when you cannot wait until your next pay date. This is meant to be a short term solution only. If you are concerned about your finances, or are seeking a long term solution, you should seek debt advice from an agency such as Citizens Advice, National Debtline or the Consumer Credit Counselling Service.

How much may I borrow?
All loan limits are determined by your net income. For your first loan you may borrow up to £200. This is to ensure that you are not borrowing more money than you are able to pay back. Once you have successfully repaid your first loan and established you are able to use this type of loan responsibly, your loan limit may be increased.

What are your rates?
A fee of £29.98 will be applied to each £100 borrowed. This fee includes all costs associated with the transaction and will be due in full upon repayment of your loan. For more information, please visit our Rates page.

What will happen if I am unable to repay my loan on time?
To help ensure you are able to use this type of loan responsibly, it is important that you repay your loan in full on your repayment date. The repayment date will always occur the same day that you are paid by your employer. If the funds are not available when we attempt to withdraw payment, you may incur arrears charges up to £59.00. Depending on your financial institution, additional banking fees may also apply. We will work with you to arrange a payment but there may be occasions where we will ask a third party collections agency to contact you.

How will I receive the money?
Once approved, the money will be sent directly to your bank. You should have access to the funds as early as the following day.

How long will I have the money?
Your loan will always be due on your pay date. The longest a loan can be outstanding is 31 days. The purpose of a payday loan is to assist you until your next pay date, not to be a long term solution.

How do I repay my loan?
The entire loan amount plus fees will automatically be withdrawn from your bank account. A reminder will be sent 2 days prior to your repayment date so that you can make arrangements to ensure the payment amount will be available.

Can I extend or rollover my loan?
No, we do not offer extensions or rollovers. However, you may request another loan the same day your previous loan is repaid. As long as your previous loan payment clears your account, you can get more money as early as the next day. Please note that although this option is available, it is a very expensive way to continuously borrow money and may indicate that you are in need of an alternate financial solution or debt advice.

Why are extensions and rollovers not offered?
PoundsTillPayday.co.uk firmly believes a payday loan should be a short term solution for urgent needs. Rolling over a payday loan can cause interest to accumulate. This can often lead to a cycle of paying off nothing but interest which can increase any financial problems that you may have. If you are not sure whether you will be able to repay your loan in full on your repayment date, a payday loan may not be the proper solution for you.

What can I do if I am facing financial difficulties?
If you find that you are having difficulties repaying your debts you should seek advice from a free impartial debt advice agency such as Citizens Advice, National Debtline or the Consumer Credit Counselling Service. They will discuss with you your financial circumstances and advise you on your options to deal with your debts. You should avoid borrowing more money from another payday lender or seeking other sources of credit as these might make your situation worse.
Details of some of the organizations that may be able to give you free debt advice can be found here.

How do I make a Loan request?
Please carefully review the loan agreements. It is extremely important that you understand the fees involved and risks associated with taking this loan. Once you have reviewed the loan agreements, you will be asked to digitally sign for your PoundsTillPayday.co.uk loan.
Click here for step-by-step instructions.

How do I contact you?
You can reach our customer care agents by any of the following methods:
Customer Care Free Phone: 08000 32 76 55
SMS/Text Messaging: 447797885026
Online Chat: Click here to chat now
Email: customercare@poundstillpayday.co.uk