Frequently asked pay day loan questions and answers |
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 | What is a payday advance? |
 | A payday advance is a small loan which is repayable on your next payday - a maximum of 40 days away. |
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| Will you perform a credit check against my application? |
| We do not do external credit reference searches other than to verify your identity. We base our lending decisions on our own unique internal credit worthiness scoring mechanisms which we have devised and developed on the basis of our lending experience. |
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| How do I repay my loan? |
| We use the debit card or direct debit from your current account to take repayment of your payday advance on your next payday. |
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| Can I extend or defer my loan until my next payday? |
| Yes, loan extensions are granted at the discretion of WageDayAdvance however this is a short-term loan and is designed to help you until your next payday. Should you require credit for a longer period, then this facility may not be your best option and we would suggest you seek a more appropriate loan facility. |
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| Do I need a cheque guarantee card? |
| No, but we do ask that you hold a valid debit card for the bank account where your wage gets paid in. |
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| How soon will I receive my money? |
| If your loan is approved and we receive your signed web agreement before 6pm, you could have your money the same day monday to saturday with the exception of applications received on a sunday, they will be processed the next working day. You can have your money sent by BACS to your account free of charge which takes three working days or you can pay an express service fee of £15, which is deducted from your loan amount, to receive your money the same day, next working day if you apply on sunday. |
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| Will I need to supply any documents? |
| On rare occasions if we are unable to verify any contact information you have provided, we may require you to forward documentation to support your application. |
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