Payday Loan Lenders
Payday loan lenders are generally companies that lend money to people suffering an unforeseen expense who need the money quickly. Traditionally payday lenders lent money up until your payday, however since the new regulations brought in by the Financial Conduct Authority, these loans can last up to 12 months. Typical loan amounts range from £100 up to £1000 although there a few lenders that lend up to £2500.
How does a PiggyBank Payday loan work?
PiggyBank are not your typical payday loan lender but a short term lender. As such PiggyBank allow customers to borrow from 7 days up to 5 months. First time customers can apply for up to £1000 and repeat customers can apply for up to £1500. We want to ensure that we are treating customers fairly and so all PiggyBank loans are subject to affordability, credit checks and fraud checks.
How do I know who a payday lender is?
All payday lenders need to ensure they let you know they are a payday lender and not a broker. A lender and a broker has to let you know what services they provide and make this clear on their website. You will also be able to check the ‘How it Works’ page on any payday loan lender’s website or a payday loan broker’s website to see how their service works. You can also check the Financial Conduct Authority’s (FCA) website here to see if the company you are thinking of dealing with is authorised by the FCA and whether they are a lender, a broker or both. All you need to do is take their Financial Conduct Authority reference number as seen in the screenshot below, put that number into the search bar and you will seedetails about the company and if they are a payday loan lender or a payday loan broker.
If the company is authorised it will show on the results page of the FCA website as shown below;
If you scroll down to the ‘Permissions’ section of the page, you will be able to see what that particular company are authorised to do.
How quickly can I get a loan if I apply?
If you apply for a payday loan with PiggyBank or any other lender, you can generally receive your money within an hour of being approved, although this will depend on your bank and the time of day you apply for a loan. Whilst every lender will do their best to approve a loan quickly, it is important to understand that they will also do everything to ensure you can afford the loan and will carry out the necessary checks to ensure you can pay your loan back.
Why Choose Us?
- Direct Lender
- No Payout Fee
- No Hidden Costs
- Fast Online Application
- Multiple Repayment Options
- 100% UK Based
- Fully Authorised by the Financial Conduct Authority