Payday Loans are relatively small loans that act as an advance on your salary to help you bridge the gap between now (when you need money) and payday, at which point they are repaid. This is why a payday loan is also known as a payday advance, or a payday advance loan.

Payday loans, otherwise referred to as instant payday loans, offer a quick solution to short term credit needs. They are cash loans that are paid directly into your bank account on the same day you apply. At Payday Express we transfer funds every 45 minutes 7 days a week. The majority of our customers will get their money within 45 minutes of completing their application. However, subject to status, we may need to verify certain details, which we would do during our working hours between 08:00 and 19:00 Monday to Friday or 09:00 to 13:00 on Saturdays. In these cases, providing you apply before 17:00 on a working day you should still get your money the same day, and if you apply after this you will get it by the next working morning.

Customers choose payday loans because of their instant nature. You can apply online for cash advance loans in minutes and get money in your bank the very same day, most often within 45 minutes with Payday Express. They also generally cost less than bounced cheque or unarranged overdraft fees, late bills penalties, or fees for missed credit card payments and are also by and large more desirable than having to ask to borrow the money from friends or family.

What can a payday loan be used for?

Anything! Most of our customers use payday loans to cover emergency expenses that disrupt cash flow within a month. They are also seen as an affordable alternative to unarranged overdraft fees some banks impose, if spending has been higher than expected within a month and there are still further expenses to be covered before payday.

How much can I borrow?

We offer payday loans between £80 and £800, subject to status. However, we loan a maximum of £400 for first loans to new customers. Once you have established a payment record with us you may then be eligible for an increase to your loan limit.

Representative Loan Example

If you borrowed £80 for 28 days you would repay £100, with an interest rate of 25.0% fixed. 1737.2% APR representative. All loans are subject to status and affordability. Customers must be over 18.

Because pay day loans are designed to work like an advance on your salary and be repaid on payday, we lend according to how much we deem that you can afford to pay back on payday. However, you know your financial situation better than anyone, so we strongly advise that you assess this situation and only borrow how much you will comfortably be able to repay on your payday.

Please note: payday loans are short-term loans. Should you need a loan for longer than a month, then we suggest you seek an alternative credit facility.

Am I eligible for a Payday Loan?

If you can say ‘yes’ to all the below questions then you are eligible to apply for a payday loan:

1. Are you aged 18 or more?
2. Are you living and working in the UK?
3. Are you in full time employment, with your wages paid directly into your bank account?
4. Do you have a debit card for the bank account your wages are paid into?

We will carry out a quick credit check during your online application, in order to be able to provide you with an approval decision within a matter of seconds.

What impact does the credit check have on my credit file?

The credit check will leave a footprint on your credit file. However, once you repay the payday loan on your pay day, we will report this to the Credit Reference Agencies we use, which can have a positive impact on your credit rating. We will continue to do so each time you take out a payday loan and repay it on time, such that you can gradually repair or improve your credit rating. You may then be able to increase your initial payday loan limit with us, and you may also be accepted for different financial products that you might in the past have been refused for.

Obviously, if customers don’t repay their payday loans on time and do not contact us in this regard prior to their pay day, this will also be reported to the Credit Reference Agencies we use and may have a negative impact on their credit rating.

What is involved in applying for a payday loan?

If you are a new customer who has not had a pay day loan with Payday Express before, you simply need to complete the online application starting at the top of this page or from the Home Page. The application will take around 4 minutes, and you will then be advised whether or not you have been approved for the payday advance. If approved, you will then be directed to an Electronic Credit Agreement, which you can sign online by submitting an e-signature. The majority of our customer will have their funds transferred within 45 minutes, subject to status, or at least the same working day.

Once you have had a payday loan with us you will become an Existing Payday Express Customer and you can use our online payday loan service as often or as little as you like. You simply need to go to the Existing Customer Page and fill in the one-page form.