MyPaydayOnline

Questions & Answers

  1. What is a payday loan?
  2. What can I use the loan money for?
  3. What requirements are needed to get a payday loan?
  4. Do you make loans to self employed people?
  5. Does it matter that I don't have a debit card?
  6. What if I'm not a home-owner?
  7. Do I need a cheque guarantee card?
  8. How much can I borrow?
  9. Will a credit reference be performed?
  10. I have bad credit - would this affect my loan application?
  11. If I have a CCJ, can I still receive a payday loan?
  12. How long does it take to get the money?
  13. Can I have more than one payday loan at the same time?
  14. How do I repay the loan?
  15. Why do consumers choose a loan from MyPaydayOnline?
  16. I still have questions. How can I contact a representative?
  1. What is a payday loan?
    A payday loan allows customers to get cash for a short time period against their next paycheque. A customer with a bank account, direct deposit and a job can receive funds, up to £1000 in their account as quickly as the same day.

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  2. What can I use the loan money for?
    The money can be used for anything.

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  3. What requirements are needed to get a payday loan?
    The borrower must be a UK Citizen, over 18 years old, employed, have a bank account, be paid by direct deposit, and meet the minimum income requirements of the lender.

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  4. Do you make loans to self employed people?
    As long as you can satisfy the loan requirements, i.e. there would be sufficient funds in your bank account on the agreed repayment date most lenders would be happy to make you a loan.

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  5. Does it matter that I don't have a debit card?
    Most lenders require you to have a debit card in order for them to take your loan repayment. However, you would be unable to renew your loan (unless you send in cash/cheque or a postal order) although most lenders could re-issue a new loan almost immediately if required.

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  6. What if I'm not a home-owner?
    Home ownership is not required to obtain a payday loan.

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  7. Do I need a cheque guarantee card?
    No. As long as you can satisfy the lenders that there would be sufficient funds in your bank account on payday to repay the loan, you should have no problem getting your loan.

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  8. How much can I borrow?
    This will depend upon your income. You can apply for an advance between £80 and £1,000.

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  9. Will a credit reference be performed?
    In order to verify the information you provide lenders, they will search your record at credit reference or fraud prevention agencies who will supply the lenders with credit information, as well as information from the electoral register. If there is sufficient information held with the credit referencing agency, an instant decision can be made on your application using this information.

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  10. I have bad credit - would this affect my loan application?
    No. As with any loan application the lenders we work with will look at your current financial performance to ensure you will have sufficient funds in your bank account on payday to cover your payday loan repayment, and meet your other financial commitments.

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  11. If I have a CCJ, can I still receive a payday loan?
    Yes, as long as you can satisfy the lender that you will have sufficient funds on your payday to repay your loan.

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  12. How long does it take to get the money?
    The money can be received by you in as little as 24 hours. Most customers can have funds paid into their account on the same day if they use a debit card. However some banks take longer to clear the funds.

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  13. Can I have more than one payday loan at the same time?
    No, all other payday loans have to be repaid before another can be granted.

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  14. How do I repay the loan?
    Lenders use the debit card or cheques on your current account to take repayment of your payday loan.

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  15. Why do consumers choose a loan from MyPaydayOnline?
    If you need to cover unexpected expenses like a car repair or household emergency, a payday loan can resolve a potential financial disaster. Some are looking to bridge a short-term need between paycheques or to avoid bounced cheque fees, late payment penalties, or pawning personal possessions.
    Click here to apply now!

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  16. I still have questions. How can I contact a representative?
    Click Here to Ask a Question

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