instant payday loans?

JamieLeeWV

hello.

i need cash and quick to pay off a few debts phone bills, etc.

i've seen a few sites which offer quick cash loans into my bank but i am worried about fraud etc. i know the apr is high but i'm only looking to borrow abpout £200 and would pay it back as soon as i paid end of the month.

question is are there any reliable trustworthy sites like these?

Better_Off_1983

You can usually tell if a website is legit by the https prefix in the address bar.

These quick loans are ok if only for the short term, as long as it is only for the short term.

I had one of these once, well, it was a pawn shop loan and I went in every month to renew and extend cheques at a £7.00 charge every £50.00. It took me 2 years to pay off because I was constantly laid off with work and was robbing Peter to pay Paul. I have paid it off now but it can be a very expensive way to borrow.

I think the online loan companies you may be approaching will only allow you to renew for 2 months max then they will want the money back.

I hope this helps.

masterlumps

i have used wonga, the money goes in within minutes, my firts loan from them only took half hour to hit the bank
you can adjust the amount and time by pounds and days to tailor it to suit what you need

JamieLeeWV

masterlumps wrote: »

i have used wonga, the money goes in within minutes, my firts loan from them only took half hour to hit the bank
you can adjust the amount and time by pounds and days to tailor it to suit what you need

are they 100% reliable?

sorry just been reading a lot of things on the internet about fraud and stuff dont really want to hand over my bank details to find i've fallen victim:o

masterlumps

JamieLeeWV wrote: »

are they 100% reliable?

sorry just been reading a lot of things on the internet about fraud and stuff dont really want to hand over my bank details to find i've fallen victim:o

well i could never say they are 100% reliable, only tell you of my experience

masterlumps

Andy347 wrote: »

Can they actually debit money out of your bank account though at the end of the month even if you don't authorise it?

when you take the loan you agree a payment date, so have therefore authorised it to be taken out

masterlumps

Andy347 wrote: »

If you log into your bank account online and cancel that direct debit though, are they physically able to take money out without you authourising it though?


Its just because i don't have any spare bank accounts, and so can't risk having 1 which they can take money out off.

its not done by direct debit, they take it through the debit card

not sure if i am barking up the wrong tree here but i wouldnt advise taking a loan if you dont intend paying it back

Better_Off_1983

''£13,000 of creditcards written off so far, now only £4,500 more to have written off! ''

Says it all really.

masterlumps

Better_Off_1983 wrote: »

''£13,000 of creditcards written off so far, now only £4,500 more to have written off! ''

Says it all really.

does it?

i was only reading the post which asked if they could take the money after you cancelled it, but i did say i wasnt sure

masterlumps

Andy347 wrote: »

Ah ok thanks thats explained alot. :beer::o

So they basically do it like a 'purchase' which they charge to your debitcard at the end of the month,
rather than give it as an actual loan which you manually repay.


Do you by any chance know of any banks which allow you to open a basic bank account with debitcard (no overdraft facility) without doing any credit checks on you??

i used my basic bank of scotland halifax account, they let me open it when we were in the depthes of financial despair a few years back, it only has an electron card, but with the exception of tesco direct, i have never had any problems using it (well not since chip and pin arrived and most places had to update their terminals)

crabyducky

Wonga are good as are payday express ive used both but ensure you can afford to pay at the end of month. Wonga is better for week or two at most, payday express for upto month.

Payday express charge you 20 per 80 you borrow so borrow 80 you pay back 100.
Wonga are sloghtly different as they charge per day rather than per ammount.

Hope that helps

oh and just incase you missed it MAKE SURE YOU HAVE ENOUGH TO REPAY

oh and try to get on through a cashback site. That way you can atleast get a little extra.