You could be just minutes away from £1,000!

How it works

What you need to apply

You just fill in a simple application form, receive a speedy decision, accept the lender's terms and conditions if approved and then receive the money if you've been accepted. You pay it back after you've received your salary. You can apply with no obligations.

Most of the information you need to apply will be information you already know. It will also be useful to have to hand:

• Your contact details including your mobile phone number and how long you've been living at your current address
• Your employment details, including your monthly salary and payday, how long you've worked there and a contact number (this will only be for verification, as your loan will not be discussed with anyone other than you)
• Your bank account details, including the account number and sort code

Receiving your loan

If you are successful, you'll be sent a loan offer which clearly details the lender's terms and conditions, the amount you need to repay and the repayment date. You will be under no obligation to accept this. You can accept it online.

The loan will then be transferred to your account. Most loans take around 24 hours, although a lot do happen the same hour and others can take up to 48 hours. Any charges will be clearly explained to you before you are under any obligation.

It should be remembered that payday loans are not a long term solution. Please only borrow what you can comfortably repay.

FAQ

What are One Hour Loans?

They're an advance on your salary payment designed to help you pay unexpected bills or make emergency payments. You can apply to borrow anything from £50 to £1,000 and pay it back after you've been paid.

Who can apply for a fast cash loan?

Almost anyone. You don't need to be a homeowner or have collateral. There are just three simple criteria. First, you need to be a UK resident aged at least 18. Second, you need to be employed with a regular salary. Finally, you need to have a UK bank account and debit card. That's all you need in order to be eligible to apply.

Is there a limit to how much I can borrow?

Yes. You can apply for up to £1,000, although most lenders will be more likely to approve first-time applicants for a lower amount, as we don't want to encourage anybody to apply for more than they can afford.

Is it easy to apply?

It only takes a couple of minutes and you only need to put in some basic details about yourself, your employment and your bank account. In rare cases, you may be required to send copies of proof of employment or residence, but this can easily be done online.

Are there restrictions what I use my one hour loan for?

No. It can be for anything you need it for. The fees on your payday loan won't change depending on what you need the money for either. It's all about building our service around your convenience.

How do I repay the one hour payday loan?

When you apply, you will be asked for the date you get paid and when is most convenient to repay the loan within the month. You don't need to worry about setting up direct debits, writing cheques or phoning someone to make payment. It will all be done automatically and conveniently.

What is continuous payment authority?

Some lenders use CPA (continuous payment authority) to retrieve payment. This means that you authorise the lender to withdraw the funds from your bank account. They can also make multiple attempts to withdraw the money if it is not available. If you want to cancel your CPA, you can do this by contacting the lender or by contacting your bank and requesting a cancellation.

Can you tell me how much the interest will be before I apply?

We can give you a rough idea, although it can vary a little depending on the lender and your circumstances. The usual amount of interest is around £29 for every £100 that you borrow, although this will vary between lenders. Please see the representative example below.

Responsible Lending

Paydayin1Hour is proud to be a responsible payday loans broker. With everything that we do, we always work to keep the following aims in mind:

• We will not encourage customers to take out a pay day loan if we are aware it is not suitable for them.
• We will not aim our advertising directly at people who are have long term financial issues, including those who are unemployed.
• We will not encourage anyone directly to borrow more than they will be able to repay
• We will not charge our customers application fees

On top of that we also:

• aim to give everyone who reads the site a clear, full, understanding of our services
• follow legal and ethical marketing practices

If you feel we are doing anything that doesn’t live up to these aims, please contact us and tell us.

Where to get advice

There is plenty of free advice available online. We recommend starting at the Citizens Advice Bureau , or the Government debt advice site You can also go to an independent debt advice charity. All of these should offer free advice – do be wary of anywhere that offers to help you with debt in return for a fee.

Budgeting

If you haven’t looked at your budget to decide whether or not you can afford a payday loan, you really should. If you won’t have enough money coming in to pay it back comfortably, it could be a much more expensive way to borrow than it is intended to be. You can find plenty of good budgeting information online.

Missed or late payments

If you miss a payment, you may well incur extra charges, although this will depend on the lender. You will almost certainly continue to incur interest on the full amount outstanding, and not just the amount that you borrowed in the first place. We always suggest that you repay in full and on time, as that is the best way to limit the cost of payday loans.

Implications of Non-Payment

We always recommend repaying on time and our representative examples assume that you will. If you are unable to pay on time, each lender has their own policies with regards to fees and interest, and how they collect outstanding debts. Some lenders may pursue claimants by legal means in the event of repeated non-payment. Most will contact you by phone or letter in order to rearrange payment. Non-payment may result in charges and/or raised interest and may affect your credit score.

Renewal Policy

If you wish to renew your loan, you should contact your lender in advance. Most lenders will charge the same rate of interest and fees for another month on the entire amount owed. In the event of non-payment, a loan renewal/extension could be automatic and further interest and/or charges may be added to your account.

Rollovers

You may have the opportunity to roll over your loan, which means paying off the interest earned to date and continuing to gain interest on the original loan amount over an extended term. This interest will most likely be at the same rate of interest that the original loan was charged at. Some lenders may insist on a rollover as opposed to a renewal.

Repeated loans

You may be misusing payday loans if you are continually taking out more and more, for more money each time. Please consider independent advice and taking a serious look at your budget.

Short term loans

Payday loans are designed to be short term products, and are not suitable to help with long term financial problems. If you’re constantly borrowing to cover normal household expenses, you may be experiencing longer term debt issues.