Frequently Asked Questions

FAQ

What is a payday loan cash advance?
Payday loans are a short-term solution to ease a temporary financial situation until your next payday. Customers use them to cover small, unexpected expenses to avoid late payment penalties.

How much may I borrow?
All loan limits set by the lenders with whom you are matched are determined by your net income. For your first loan you may borrow up to £200. This is to ensure that you are not borrowing more money than you are able to pay back. Once you have successfully repaid your first loan and established you are able to use this type of loan responsibly, your loan limit may be increased.

What if I am paid by social security?
You must be employed in order to qualify for a loan with any of the payday loan companies we work with. Types of income they do not accept are: social security, retirement pay, commission only, nor those paid only by mileage.

Do I need to be paid by direct deposit?
Yes, in order to qualify for a payday loan with our lending partners you must receive your pay slip by direct deposit.

What if I have bad credit?
E-cashadvance.co.uk’s lending partners might need to verify some of your information against several national databases. A bad credit score does not mean you will not be approved as loans are based on a person’s income.

How much does a payday loan cost?
Representative example: Borrow £200 for 30 days. The total charge for credit is £59. Interest is fixed at a rate of £59 per £200 loan equivalent to an annual rate of 2227.47% fixed. The total repayable is £259. Representative APR 2222.47%, however fees vary by lender.

For how long can I have the funds?
Your loan will always be due on your pay date. The longest a loan can be outstanding is 31 days. The purpose of a payday loan is to assist you until your next pay date, not to be a long term solution.

How do I pay back the loan?
The loan is paid back with an automatic debit from your bank account. The funds come out of your account the same way that they went in.

Can I make payments on my loan?
Our payday lending partners do not offer refinancing or rollovers on loans.

Is my personal information secure?
Yes. We respect your privacy and manage personal financial information responsibly with the latest secure technology.

E-CashAdvance.co.uk is not a lending or banking institution. It does not broker loans to lending institutions. The personal information you provide will be provided to a third-party lender to provide you with a loan application and the potential to receive a loan. E-CashAdvance.co.uk makes no guarantees or warranties with regards to the availability of a loan or any other aspect of the terms and conditions of the lending institution.E-CashAdvance.co.uk is a free service, but may receive a commission from any lenders we introduce you to. For details, questions, or concerns regarding your loan, please contact the lending institution directly. Not all lenders can provide up to £1000. Cash transfer time may vary between lenders. We assume no responsibility for the services or information you may receive from the lender. All loans are subject to credit approval. Certain limitations apply.

* Subject to approval times and lender's own policies. In some cases, funds will be deposited the same working day, if approved by 14:30. Approval may take up to 30 minutes in most cases. Loan amounts are based on consumers credit history and ability to repay loan. Not everyone will qualify for a loan. Please call your banking institution to determine when they are able to release the cash to your account.

* UK Representative APR (Annual Percentage Rate of charge) - Representative example: Borrow £300 for 31 days. The total charge for credit is £89.94. Interest is fixed at a rate of £29.98 per £100 borrowed. The total repayable is £389.94. Representative APR 2096.46%