Your QuickQuid family members, Wally and Purse, have made another appearance on the telly! This time they are  discussing the painfully large difference between bank overdraft fees and payday loans.  Did you know that a £100 unauthorised overdraft taken for 15 days would cost £50 or more at most High Street banks?  In contrast, a £100 QuickQuid payday loan borrowed over 15 days would cost only £18.75 if you use our promo code in the video below¹.  Your QuickQuid family is always available for a short-term payday loan to get you out of a financial pinch.  Click “play” on the video below to watch the commercial and receive a 25% off promo code!

¹Based on one payment going over the limit. Cost comparison of our loan vs. unauthorised overdrafts vary based on loan amount and term.

London, England – QuickQuid was recently nominated as a finalist for Alternative Lender of the Year at the 11^th Annual Credit Today Awards.  The Alternative Lender of the Year Award recognises the industry’s highest achiever for following best practices while raising industry standards.

According to Credit Today , a record 158 nominations were whittled down to 67 finalists, and several judges rated the quality of submissions the highest ever in Awards’ history.

Jeremy Sutcliffe, honorary VP of Civil Court Users Association and one of the judges, said “This year’s finalists were undoubtedly the best yet.“  Finalists in other categories included Barclay’s, British Gas and Mercedes-Benz Financial Services.

We believe QuickQuid was selected as a finalist because of our strong business practices:

• Responsible lender with no hidden fees
• Viable alternative for underserved customers with short-term credit needs
• Professional and courteous customer service

“We value this nomination and will continue to provide our customers with first-class service, rigorous security measures and a crystal-clear application process.  This will allow customers to have the information needed to make informed financial decisions,” says Olga Dolchenko, Operations Manager for QuickQuid.

The high profile Credit Today Awards are run by the Credit Today magazine, one of the UK’s leading publications for the consumer and commercial credit industry. The awards ceremony attracts 1,500 credit professionals and honours the industry’s outstanding achievers.

For more information, contact Andrew LaPointe at 0808 101 7453 or media@quickquid.co.uk.

London, England – The Office of Fair Trading report published June 2010 stated payday loans can be cheaper than unarranged overdrafts.¹

According to the OFT, “Customers of payday loans often take them out in preference to unarranged overdrafts which can be more expensive.”² Unarranged overdrafts can be very expensive for Britons in a bind, and the BBC estimates British banks generate £2.6 billion a year from unauthorised overdraft fees.³

A uSwitch report published in June 2010 revealed that approximately 1 in 3 banking customers had overdrawn their accounts.  In addition, 2 million customers experienced unauthorised overdrafts at least 4 times a year, which cost an average of £70 per occurrence.⁴

A short-term loan from QuickQuid provides Britons a much better alternative.  For example, a £100 unauthorised overdraft taken for 15 days would cost £50 or more at most High Street banks.  In contrast, a £100 QuickQuid payday loan borrowed over 15 days would cost only £18.75.

“QuickQuid customers are savvy internet shoppers who understand that our short-term loans are cheaper compared to unarranged overdrafts,” says Alex King, Managing Director of QuickQuid.  “Our customers value our service and the cost savings we generate for them.”

To echo Mr. King’s comments, several QuickQuid customers voiced their appreciation in June 2010:

“I was able to get the cash I needed for only a small fee instead of over a hundred in overdraft charges!” – Lucy M.

“…when I went £28 overdrawn for 6 days they [the bank] charged me £105 and failed to inform me,” said QuickQuid customer Graham E., who vented his frustration with the lack of notification from his bank.  Graham went on to voice his satisfaction with QuickQuid, “QuickQuid dispatched the loan amount in the same day, saving me hundreds of pounds in banks fees and overall costing around £30 – £40 to borrow the money. If QuickQuid were not so quick to help and reasonably priced I would still be sinking in bank fees today.”

“QuickQuid hasn’t just saved me money, it’s given me more freedom too.  Without the worry of overdrafts and missing payments on bills to incur charges. The company is a blessing, really.” – Kate S.

QuickQuid has generated significant cost savings for Britons since 2007 after having issued more than 500,000 payday loans.  It is encouraging that the OFT recognises the cost savings the payday loan industry provides to Britons temporarily short on cash.

You can find out more at www.QuickQuid.co.uk.  Also, you can contact Andrew LaPointe at 0808 101 7453 or email media@quickquid.co.uk.

¹ “Review of high-cost credit”, Office of Fair Trading, June 2010, p.19, section 2.12
² “Review of high-cost credit”, Office of Fair Trading, June 2010, p.19, section 2.11
³ “Banks win Supreme Court Case on overdraft charges”, BBC, 25 November 2009 http://news.bbc.co.uk/2/hi/8376906.stm
⁴ “Do banks profit from your overdraft”, 17 June 2010, http://www.talktalk.co.uk/money/features/bank-account-overdrafts.html

State-backed banks are charging more for short-term borrowing than payday loan companies, according to an article in the Daily Mail.

The article states that “LloydsTSB charges an eye-watering £216.32 for someone who goes overdrawn by £150 for ten days without permission.” Instead of overdrawing your account and incurring these charges, you could borrow £150 from QuickQuid for four weeks and pay a finance charge of just £44.25.

Chris Tapp, director at Credit Action, says, “People don’t realise how expensive unauthorised overdrafts can be, as they don’t have to display the annual percentage rate (APR) which shows the true cost of borrowing.”

QuickQuid treats its customers fairly by clearly stating the APR associated with its fees. Not only are banks less transparent, but they also charge more for unauthorized overdraft fees compared to the cost of borrowing a payday loan.

Remember, a short-term loan from QuickQuid can be a convenient alternative to expensive overdraft fees, late fees or service reconnection fees. Consider QuickQuid the next time you’re faced with an emergency expense.

According to a report by credit rating agency Standard and Poor’s, banks in Europe and the US may suffer a second wave of massive losses from the credit crunch over the next few months that could leave some fighting for survival with little access to additional funds.

Who knows? With banks in trouble, it may become harder to get a traditional loan. Online cash advance payday loans are a good financial route to go if you have immediate financial needs. An online cash advance from QuickQuid can provide you with the money you need the very same day that you apply, so that you can pay off your expenses immediately.

Banks aren’t always the best option for a cash advance either — especially if you have less than perfect credit. QuickQuid offers people with less than perfect credit cash advance payday loans, which is important to keep in mind if you’re ever in a financial bind with no way to get a cash advance from a bank.

To learn more, click this link http://www.guardian.co.uk/business/2008/sep/19/banking.creditcrunch1

Consumers across the UK are alarmed by the continued rise in the cost of living, as the prices of items like food, fuel and energy continue to escalate. A cash advance from a payday loan company is a quick and easy solution for consumers concerned about stretching their wages.

Consumers concerned about rising prices may wish to consider the benefits that a payday loan or cash advance can offer. Applying for a payday loan may help consumers with several debts consolidate their monthly outgoings. In turn, the payday loan may help consumers keep greater control over their personal finances.

Typical payday loan companies provide payday loan consumers with a short-term, small principle cash advance or payday loan. Payday loans or cash advances are typically used for emergency expenses. Or, a payday loan can be used to cover overdue bills.
During tough times, there are several immediate expenses that might need to be covered with a payday loan. For instance, consider rising oil prices which affect everything from gas to groceries. Without a payday loan to cover the cost of gas, consumers might struggle to get to work, which can be a problem. A cash advance can usually provide consumers with cash the day after the application is made, making a cash advance one of the fastest cash sources at their disposal.

QuickQuid is a good payday loan service to use to get a payday loan because it can help consumers even if they have less than perfect credit. Not everyone with poor credit can get a cash advance or payday loan, but four out of five QuickQuid payday loan applicants are approved for a payday loan. This goes to show that there are payday loan options for consumers struggling with the rising cost of living.

The Internet has revolutionized the way in which people communicate, gather information and purchase goods and services. But at the same time, this free-flowing exchange of data raises concerns about security of your most vital and personal information. You should always be careful about whom you share information with and where you shop online, so it should be no different when you choose a payday loan lender.

Online sterling advances give you the ease of fast lending and the convenience and privacy of applying from home. Make sure, however, to choose a lender that is reputable and offers reliable online security features. QuickQuid uses online guards like VeriSign to make sure that your information is kept from harms way. We endorse smart and responsible payday loan lending techniques – so you can rest easy knowing that we have your best interests in mind.

Online payday loans are one of the easiest and fastest ways to get money you need between pay cycles. Just make sure that you know whom you’re lending from. At QuickQuid, we pride ourselves on offering our customers a fast, easy and reliable cash advance solution, everyday.