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 for anything from £50 to £1,000 from the lenders we work with and pay it back after you've been paid. They're intended to be a convenient, fast way of applying for a small amount of money. As the name suggests, if you've been accepted, you could get the loan in as little as one hour. Some lenders can take up to 48 hours to transfer the money, depending on your bank, but others can transfer it to you within the same hour of application.

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. We believe in responsible lending, so we don't try to get you to take out a loan that may be difficult for you to repay at the end of the month. Our research has shown that a fast payday loan under £1,000 is enough to make a real difference to most people's immediate finances, while still being possible to repay. This said, most people will be approved for lower the first time they apply, 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. Most of it will be information you'll have straight to hand as well! In rare cases, you may be required to send copies of proof of employment or residence, but this can easily be done online, keeping things fast. In the majority of cases, it's just the one simple form.

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

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. All that's important is that you need it. 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 depending on the lender and your circumstances. The usual amount of interest is around £29 for every £100 that you borrow. So, if you borrow £200, you'll pay about £58 interest, and a total repayment of £258 in an average of 28 days. This works out as an annual percentage rate of 2670%, although it's important to remember that it's not a monthly or weekly percentage rate, so it can look a lot higher than you're actually repaying at first glance. In realistic terms, you can expect to repay £29 per £100 borrowed, although this will vary between lenders. If your application is accepted, you will be given a clear repayment amount and any optional extra charges. Until you agree to this, you are under absolutely no obligations. Please see our representative example and responsible lending page for more information.