Payday Loans Online | Payday Loan Lenders (Bad Credit)

Payday Loans Online
About…

Payday firms started to pop up online in the year 2003. The early market leader was PaydayUK who have now ceased trading. They, and many big hitters like Wonga, felt the heat of tightened regulations by the industry regulator (the Financial Conduct Authority). The FCA’s key change saw the roll out of an industry wide price cap. This capping at 0.8% daily was introduced in January 2015. From here on lenders could charge no more than £24 per £100 over 30 days. With lender profits tightly squeezed and incoming high profile fines, this is when many firms started to collapse. Those that did survive typically adapted to longer terms where they could chase greater profits.

Payday lenders help to bridge the gap until that next pay date, more so to those with lower scores who are unable to qualify with mainstream providers. A small handful of brands listed today offer greater flexibility. The now defunct Wonga was the innovator in this regard, enabling the borrower to pick any specific repayment day. New applicants seeking cash are typically capped at £300 with larger amounts of £1000 usually following once trust has been established. The development of the Faster Payments scheme has helped to speed up transfers to just minutes and some providers are open across weekends. Qualification with bad credit is likely, but checks are common such as document uploads, workplace verification calls etc.

Brand New Payday Lenders 2019

As it stands, there have been no new payday lenders 2018 or 2019, but we’ll use this section to report back with any updates. When heading back to the 2017 year, there was a few newcomers including Fernovo, Payday Loans Net & Tappily. Outside of this sector catering longer terms there was Capfin, Dot Dot, Juo & Track. In-Sync Credit Services had launched, but they later removed their short term product. Many of the most experienced firms for reference have closed. SafeLoans was established in 1989 and Payday Express opened in 1999. This was originally on the high street. They each launched online in 2003 and were joined by the likes of EPDL and PaydayUK who have also gone.

Compare Payday Loans: Direct Lenders 2019 (30 Brands)

30 Day Cost /£100

£22.80 to £24 (promo)

£24

£24

£24

£24

£24

£24

£48 /£200

£5.40

£17.95

£48 /£200

£24

£23.84

£24

£24

£38.40 /£200

£10.20

£24

£48 /£200

£24

£48 /£200

£15

£147 /£750

£24

£24

£24

Above Cap

£24

£48 /£200

£12

Sums (+Return)

£50 to £1000 (£1500)

£80 to £200 (£800)

£100 to £500 (£1000)

£80 to £500 (£1000)

£50 to £350

£100 to £1000 (£1500)

£100 to £1000

£200 to £500 (£1100)

£50 to £3000 (£5000)

£50 to £500

£200 to £500 (£1100)

£50 to £700 (£1000)

£100 to £300 (£750)

£100 to £300 (£700)

£50 to £350 (£1000)

£200 to £400 (£1000)

£100 to £2500

£200 to £1000 (£1500)

£200 to £700 (£2000)

£100 to £1000

£200 to £1000

£100 to £1000

£250 to £1000

£50 to £600 (£2000)

£100 to £500

£100 to £2000

£100 to £1000

£100 (£300)

£200 to £500 (£1100)

£100 to £500

Terms (Notes/+Return)

1m to 3m

1m

LOC (when paid)

1m to 6m

1d to 6m

7d to 5m

1m to 12m

1m to 4m

LOC (no fixed date)

21d to 3m

1m to 4m

1m to 4m

1d to 3m

1m to 6m

1m

7d to 12m

LOC (when paid)

1m to 5m

1m to 6m

1m to 12m

3m to 6m (1m to 6m)

1m to 6m

1m to 3m

7d to 8m

1m

1m to 12m

1m to 12m

10d to 1m

1m to 3m

1m

Traffic Rank (Alexa)

#8957

#29,792

#30,907

#33,595

#34,382

#45,300

#46,636

#74,604

#75,305

#77,984

#80,328

1.4m

1.9m

3m

3.2m

3.3m

3.4m

3.6m

3.8m

4m

4.4m

4.8m

6m

7m

8.6m

8.9m

11.4m

Unranked

Unranked

Unranked

*Notes:
~ Alexa.com: Rankings are sorted by Alexa UK ranks. Sites with much less traffic can only manage a global rank that is used next. The remaining sites are tied (these had no UK or global rank).
~ Characters used: 🔞 = Pera (23+ applicants) & The Money Platform (20+ applicants). 🅿️ = Drafty, Tappily & The Money Platform (prime only). 🎓 = Smart-Pig (students only).
~ LOC: This refers to line of credit, meaning that funding is available whenever it is requested. For SafetyNet & Tappily (same owner), repayments occur when you are paid from work, but you can reloan on that same day.
~ Pricing: A sample £100 loan has been compared over a 30 day period. Alternatives examples (such as for £200) are provided when £100 isn’t selectable.
~ Promo discounts: This is shown for QuickQuid. See their profile for an active code.
~ Recent closures: Credio, In-Sync Credit Services, MPP Money, Pixie Loans & Wonga.
~ Specific lender notes: Kabayan Finance’s monthly charge sits above the legal cap. Smart-Pig as noted above is available to students only.

Feedback: Best Reviews
Feefo
Past 12 Month Data

1) WageDayAdvance
96% Rated | 1140+ Reviews (12m)
WageDayAdvance

2) PiggyBank
94% Rated | 650+ Reviews (12m)
PiggyBank

3) Smart-Pig
92% Rated | 40+ Reviews (12m)
Smart-Pig

Reviews
All-Time Data
1) Fast Loan UK
100% Rated | 60+ Reviews
Fast Loan UK

2) Drafty
96% Rated | 640+ Reviews
Drafty

3) CashFloat
96% Rated | 490+ Reviews
CashFloat

Trustpilot
All-Time Data
1) Drafty
93% Rated | 6730+ Reviews
Drafty

2) WageMe
92% Rated | 450+ Reviews
WageMe

3) WeLendUs
92% Rated | 90+ Reviews
WeLendUs

Pricing: Cheapest Payday Loans with Bad Credit
Top 1m Prime: Drafty: £5.40 /£100
1) Sunshine Credit
= £12 /£100

Sunshine Credit

2) Fernovo
= £15 /£100

Fernovo

3) WelendUs
= £17.95 /£100

WeLendUs

Weekend Payday Loans: Opening Hours

~ Cash Asap: Mon/Fri (8am-9pm), Sat (8am-7pm), Sun (9am-7pm)
~ CreditStar: Mon/Sun (9am-8pm)
~ Drafty: Mon/Fri (7am-10pm), Sat/Sun (7am-10pm)
~ Peachy: Mon/Fri (8am-8pm), Sat/Sun (10am-6pm)
~ QuickQuid: Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)
~ Smart-Pig: Mon/Fri (9am-7pm), Sat/Sun (10am-6pm)
~ Swift Sterling: Mon/Sat (7.30am-11.30pm), Sun (2pm-10.30pm)
~ WageDayAdvance: Mon/Fri (8am-8pm), Sat (9am-5pm), Sun (10am-4pm)

Note:
The support teams of 247Moneybox, Ferratum, SafetyNet & Tappily aren’t available 7/7, but existing customers are still funded Monday to Sunday. This is subject to the account being in good standing and there being no payment maintenance issues.

Last Update: February 14th, 2019