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Finance Charge

  • Your loan's finance charge will be between £10 to £14.75 per £50 borrowed per pay period
  • You may choose to repay your loan over
    1 or 2 pay periods
  • New customers can get up to £1000,† existing customers can get up to £1500†

To determine your finance charge, QuickQuid uses 3 rate tiers: Excellent, Good or Average. Your qualifying tier is determined by QuickQuid (at its absolute discretion) through various factors including, but not limited to, your credit history, employment history and loan repayment history.

Existing customers can improve their tier after building their loan repayment history with us. See the tables below for examples of these tiers.

One-Period Loan

The loan is repaid after 1 pay period. The finance charge and the full loan principal is due on your next pay date.

Rate
Tier		 Loan Amount Finance Charge1 APR2
Excellent £50.00 £10.00 819.12%
Good £50.00 £12.50 1410.33%
Average £50.00 £14.75 2222.46%

You can pre-pay your loan and only owe us the finance charges till the date of prepayment.

Two-Period Loan

The loan is repaid over 2 pay periods. A finance charge is due on your next pay date. A finance charge and the full loan principal is due on your following pay date.

Rate
Tier		 Loan Amount Finance Charge1 Due Next Pay Date Due Following Pay Date APR3
Excellent £50.00 £10.00 £10.00 £60.00 819.12%
Good £50.00 £12.50 £12.50 £62.50 1410.33%
Average £50.00 £14.75 £14.75 £64.75 2222.46%

You can pre-pay your loan and only owe us the finance charges till the date of prepayment.

1Listed finance charges include any applicable taxes and bank delivery charges. Note that we may update the finance charges on our website from time to time. The finance charge that applies to you will be set out in your loan agreement and will apply for the term of your loan agreement.

2Based on a 30-day period loan term.

3Based on a 60-day period loan term.

Extensions

Extensions should not be used as a long-term financial solution. Extensions are not automatically granted, and we will consider your extension request based on the information you provide and your current financial situation. If you have a one-period loan and are eligible to apply for an extension, you can log into your account and select the "Get More Time" button or call our Customer Service team. By extending your loan, you will incur additional finance charges. You will only owe a finance charge on your original due date, which is typically your next pay date. (However, we suggest you pay as much of your principal as possible on your next pay date to reduce further charges.) The principal of your existing loan will then be 'rolled over' into a new loan. You will pay the loan amount and finance charge of this new loan on your following due date, which is typically your following pay date. Extensions, partial payment and early payoff requests must be received by 17:00, at least three working days prior to your due date. For more information on extensions, visit our FAQ page.

Transparency and Minimal Fees

QuickQuid payday loan terms are transparent and contain absolutely no hidden fees. While other lenders may charge extra fees that increase short-term loan costs, QuickQuid charges:

  • NO application fee
  • NO fast funding fee
  • NO monthly account maintenance fees
  • NO collection fees
  • NO post default interest
QuickQuid payday loans only require a flat finance charge when you pay by your due date. Customers that pay late do incur a default fee of £12, one of the lowest in the industry. Your bank may also charge a Non-Sufficient Fund (NSF) fee if we debit your bank account and you have insufficient funds. All charges are clearly defined and presented to every customer prior to signing the payday loan agreement. These practices affirm our commitment to transparent lending.

How We Compare with Our Competitors

Payday lending best practices followed by most lenders include No Account Management Fees and No Application Fees. Adhering to QuickQuid’s commitment to providing clear rates and terms, below is a comparison table, which uses a £100 loan to compare QuickQuid’s fees to competitor’s fees.

QuickQuid Competitor a Competitor b
Finance Charge (per £1001) £20 - £29.50 £36.72 £20 - £30
Fast Funding Fee Free £5.50 Not available
Missed Payment Fee2 £12 £25 £12
Interest on Past Due Balances No Yes Yes
  • 1Based on 30-day loan period
  • 2Fees charged for non-payment by due date
  • Updated as of 7 January 2011

Governing Law

The loan agreement will be governed by the Consumer Credit Act of 1974 and all other applicable laws of England and Wales.

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Terms and Conditions apply. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over. Finance charge will be between £10 and £14.75 per £50 borrowed. Representative 1734% APR. Representative example: Borrow £200 for 28 days. The total charge for credit is £50. Interest is fixed at a rate of £50 per £200 loan (326% per annum). The Total Repayable is £250. †Loan amounts are based on consumer's credit history and ability to repay loan in accordance with QuickQuid's affordability policy. Not everyone may qualify for £1500. Maximum of £1000 for first time customers. §This timer is for illustrative purposes only and is not intended to represent when the funds will be deposited into your account. The timer corresponds to the next available funding start time, which could be your actual funding start time depending on when your loan is approved. Once approved, funds will be sent to your account within 10 minutes. If your bank does not support Faster Payments, funds will only be deposited the same day, if approved by 14:30. Learn more. Approval may take up to 30 minutes in most cases. QuickQuid performs traditional credit checks and verifies applicant information via various national databases. Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counselling.

QuickQuid is the trading name of CashEuroNetUK, LLC. CashEuroNetUK, LLC is a Limited Liability Company incorporated in the United States. Head Office: 200 W. Jackson Blvd., 14th Floor, Chicago, IL USA. Correspondence Address: 483 Green Lanes, London, N13 4BS. Consumer Credit Licence #: 603395