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Frequently Asked Questions

If you cannot find the answer to your question then please contact us.

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What is the Refund Exercise?

We have recently undertaken a review of our procedures for issuing loan agreements following the introduction of new rules governing consumer credit.

It means that for some customers we may have lent them more than they could afford. Where this is the case, we are making the ‘unaffordable’ portion of their loan(s) interest free. 

As part of our recent review we identified a problem within our administration system where, for some customers between 1st January 2013 and 1st April 2015 we may have charged additional default fees and interest on those fees in error.

How will I know if I am affected? Or What should I do next?

We are currently writing to customers who have been affected by the changes in lending regulations with details of their refund. This process is still underway and so it is possible that your refund letter has not been sent yet. Please be assured that we are working hard to get this to you as quickly as we can.

If you would like to contact us, our teams are on hand to answer any questions you may have.  You can email  us at or call us on 0330 024 1642.

Can I get a short term loan?

To be eligible for a loan you will need to:

  • Be over 18 years old
  • Be in permanent employment, receiving a pension or disability benefit/living allowance
  • Receiving more than £417 net per month
  • Have a bank account with a valid debit card
  • Meet our credit criteria and affordability assessment
Will a bad credit history affect my loan application?

Not necessarily. We look at each application based upon your recent circumstances.

If you are concerned about your credit report there are several companies, which may offer you the chance to see it for free, such as Experian Credit Expert.


Do I need a debit card to apply?

We require you to have a debit card in order for us to take your loan repayment.

Can I have two loans at the same time?

All prior PaydayUK loans have to be repaid before you can apply for another.

How much can I borrow?

With PaydayUK you could be approved for £100 - £2,000³. Subject to status and affordability.

How long can I borrow for?

Our loans can be repaid over 1 to 12 instalments.


How long does the application take?

Online applications can be completed in minutes if you have all the required information to hand.

How do I apply?

You can apply either online or by calling us on 0800 280 25001.

For more information on how the application process works click here

What information do you need?

When filling in our online application form you will need the following information:

  • Your name and address
  • Your date of birth
  • Your contact telephone numbers and email
  • Your employment and/or regular income details
  • Your monthly expenditure information
  • Your bank account and debit card details
Why do you need all this information?

We are a responsible short term loan provider and this means that we need to verify that:

  • It is you taking out the loan
  • You are in permanent employment, receiving an acceptable form of regular income and able to repay the loan 
  • We deposit the money in your account and no-one else's account
  • The re-payments are affordable to you
When will I receive my loan?

We will transfer the funds directly to your account within the hour once your loan is completed2.

It's paid directly into your bank account so you can access it as you would normally take money from your account.

Can I choose my repayment date?

Repayments will be aligned to your regular pay date(s). If for some reason this may vary, please let us know and we will endeavour to accommodate your requirements.

How do I pay back my loan?

Your repayment(s) will be collected automatically using the continuous payment authority on your debit card.

If you choose to cancel this, you will still owe the full balance and any interest on your account and must arrange an alternative repayment method to ensure your account does not go overdue, which could in turn, negatively affect your credit rating.

How much do I have to repay?

You will have to repay the full amount of credit and interest on your agreed repayment date(s) which is detailed in your pre-contractual information and your loan agreement.

What is Continuous Payment Authority (CPA) and how does it work?

A CPA is a type of automatic payment that you can set up using your debit card. The authority is linked to the bank account that your debit card is linked to.

A CPA authorises us to withdraw sums from your nominated bank account using a debit card in line with specifically agreed terms. These are fully disclosed and agreed through the loan application process.

Once agreed by you, a CPA allows us to take a series of agreed payments using your debit card without having to seek express authorisation for every payment. CPAs are often also used to collect renewal payments for things like vehicle breakdown services, insurance policies, gym memberships, mobile and broadband services or magazine subscriptions.

CPAs provide an efficient and convenient payment method for you. It is important, however, that you are fully aware of the commitment you are entering into when applying for and accepting the offer of a loan from PaydayUK.

PaydayUK does not accept CPAs linked to credit cards.

How can Continuous Payment Authority (CPA) be cancelled?

You can cancel your CPA with the bank or card provider or by contacting us directly on 0330 024 1642¹. If you advise the bank or card issuer and they have stopped permission for the payments you should also notify us.

Payment(s) taken prior to cancellation being received will only be considered for full, or part, refund at the discretion of PaydayUK.

If you cancel your authority for the repayment of your loan with us, you will still be responsible for paying any money that you owe including any charges which may accrue. You will need to arrange an alternative means of repayment.

You are responsible for ensuring that any payments sent to us by any means reach us in time for these to be cleared into our bank account and allocated to your loan by the payment date(s).

What happens if I can't make a payment?

We understand that your personal and financial circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help.

Please be aware that non repayment by you may result in us reporting this to the Credit Reference Agencies which may have a negative effect on your credit score. 

If you are having problems making a payment please contact us on 0330 024 1642¹ and we can discuss your payment options.

If you are experiencing financial difficulty, please click the following link where you will find information on non-fee charging agencies that can provide independent advice: Managing your money. Alternatively visit the site of the Financial Conduct Authority (FCA) for advice and useful contact information.

What do I do if my paydate or debit card details have changed?

If your paydate has changed, or you have a new debit card, please contact our customer services team on 0330 024 1642¹ or click for Instant Messaging Support as soon as possible and they will make the necessary changes.

What do I do if I have changed my mind?

You can withdraw from your agreement within 14 days of you signing the loan agreement by contacting us by post, email or telephone on 0330 024 1642¹. If you withdraw from the agreement, you will be required to repay to us the credit, and any accrued interest from the date the credit was provided to the date of repaying it, without delay and in any event within 30 days of the day after the day that you gave notice of your withdrawal.

If you require any further information or explanations from us or wish to ask any questions concerning your credit agreement, please do not hesitate to contact us by email or telephone on 0330 024 1642¹.

What is a Credit Reference Agency (CRA)?

A CRA collects and maintains information on consumers' and businesses' credit behaviour, on behalf of organisations in the UK.

Why do you use a Credit Reference Agency (CRA)?

PaydayUK as a responsible lender, will check our own records and we will also contact CRAs to get information on your credit behaviour with other organisations. This will help us make the best possible assessment of your overall situation before we make a decision.

What is a Fraud Prevention Agency (FPA)?

An FPA maintains and shares information on known and suspected fraudulent activity. Some CRAs also act as FPAs.

What is Instant Messaging Support?

Instant messaging support allows you to chat to our customer service representatives online during our opening hours. All you need to do is click on the instant messaging support icon and any questions you have will be answered as soon as an agent becomes available.

Is Instant Messaging Support secure?

Yes, the communication between you and our agent is secure.

Can I have a copy of our chat?

Yes, at the end of the chat you can click 'Email this chat' button and send a copy to yourself.

What is the Annual Percentage Rate (APR)?

The APR expresses the interest payable on the loan amount borrowed as well as other charges expressed as an annual rate. The APR allows you to compare the cost of different financial products. 

The APR includes factors such as:

  • The interest you must pay
  • The length of the loan agreement (term)
  • The frequency and timing of payments
  • The amount of each payment
  • Certain fees associated with the loan

Representative Example: £250 borrowed for 3 months. Annual interest rate of 292% (fixed). Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Representative 1192% APR.

Warning: Late repayment can cause you serious money problems. For help, go to

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