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FAQ

FAQ’s – Frequently Asked Questions

For your convenience we have listed the answers to the most frequently asked questions Payday Loans Depot UK receives from our customers regarding our fast cash, payday loans. If you have a question that is not listed on this page please contact us.

WHO IS ELIGIBLE TO APPLY FOR A LOAN FROM PAYDAY LOANS DEPOT UK?
The lenders we work in partnership with use various criteria but the majority of lenders require all applicants to:

Be a UK resident
Be over 18 years of age
Be currently employed and in receipt of a regular wage or salary
Have a UK bank account
HOW DO I APPLY FOR A LOAN FROM PAYDAY LOANS DEPOT UK?

Simply complete and submit our quick and easy online loan application form.

HOW LONG DOES IT TAKE TO APPLY FOR A LOAN FROM PAYDAY LOANS DEPOT UK AND FOR MY LOAN TO BE APPROVED?
It takes approximately 60 seconds to fill in our easy to use loan application form. Once you have submitted your loan application it only takes a matter of minutes for your loan to be approved.

However, in a small number of cases we may require you to provide us with additional information. Nevertheless, even if this is the case your loan application should be approved on the same day that you apply.

WHEN WILL I GET MY MONEY FROM PAYDAY LOANS DEPOT UK?

In most cases lenders will deposit your money into your bank account on the same day if you apply before 3pm Monday – Friday. For applications that are received after 3pm most lenders will deposit your money into your bank account on the next working day. Should you require money to be paid into your bank account on a Monday all you have to do is simply apply during the weekend.

I HAVE A BAD, OR POOR, CREDIT HISTORY – CAN I STILL APPLY FOR A LOAN FROM PAYDAY LOANS DEPOT UK?

Of course! The lenders we work in partnership with do not base their decision whether or not to approve your loan application over the long term (12 months or more). Our pool of lenders specialise in providing loans to people who may have had – or may currently have – a bad or poor credit history and are therefore more interested in your current circumstances and not your previous circumstances and treat each each application based on it’s own merit.
MY BANK ACCOUNT DOESN’T COME WITH A DEBIT CARD – CAN I STILL APPLY FOR A LOAN FROM PAYDAY LOANS DEPOT UK?

It is not always necessary to have a bank account which has an accompanying debit card to apply for a loan. Therefore, if this is the case please contact us as we may be able to help.

HOW MUCH AM I ABLE TO BORROW FROM PAYDAY LOANS DEPOT UK?

You are able to borrow anything from £100 to £2,000 depending on the loan amount you require and your individual circumstances.

HOW MUCH WILL I HAVE TO PAY BACK?
It’s simple, The amount of interest that is charged is £24.00 per £100 over 30 days
ARE CREDIT REFERENCE AGENCIES OR CREDIT SCORING SYSTEMS USED TO PROCESS MY LOAN FROM PAYDAY LOANS DEPOT UK?
Credit reference agencies may be used when deciding if you are eligible for a loan. Each case is decided on it’s own merit and some lenders may be willing to lend where others are not.

HOW DO I PAY BACK MY LOAN TO PAYDAY LOANS DEPOT UK?

Lenders accept various payment methods. Normally loans are paid back via debit card or by direct debit from your bank account.

WHY DO YOU ASK FOR MY PERSONAL INFORMATION ON YOUR APPLICATION FORM?
We ask for your personal details as all responsible lenders are required to verify that it is you who is making the loan application to prevent someone else trying to take out a loan in your name. Your personal information is also used to confirm that you are in full time employment and can afford to repay the loan. Furthermore, we need your bank details so that we can deposit your funds directly and securely into your bank account.

WHAT IF I HAVE PROBLEMS PAYING BACK MY LOAN?

Lenders fully understand that an individual’s personal circumstances can often change. Therefore, if this applies to you, you must let your lender know as soon as possible so that they can assist and help you in any way they can. The most important thing to remember is never borrow money you do not think you will be able to pay back.

I AM VERY HAPPY WITH THE SERVICES OF PAYDAY LOANS DEPOT – WHAT CAN I DO?

Payday Loans Depot takes great pride in the high level of customer service we provide to all our clients. We therefore regularly receive complementary messages from a wide range of our customers. Therefore, should you wish to congratulate us on our services please contact us today.

I AM NOT ENTIRELY HAPPY WITH THE SERVICES OF PAYDAY LOANS DEPOT – WHAT CAN I DO?
Payday Loans Depot is fully committed to providing all our customers with a first class service. However, in the event that you’re not happy with any aspect of our services please contact us so that we can immediately investigate and rectify the problem.

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Representative example: £400 borrowed for 30 days. Total amount repayable is £459.36.
Interest charged is £59.36, interest rate 180.5% (variable). Representative 728.9% APR. Paydayloansdepot.Co.uk is a registered trading name of Hellcat Media Limited
which is an Introducer Appointed Representative of Quint Group Limited, who are a credit broker not a lender.