Learn more about who we are and what we do.
Credit intermediary not a lender. Representative Example: Amount of credit: £1000 for 11 months at £102.22 per month. Total repayment of £1226.64. Interest: £226.64 Interest rate: 47.5% pa (fixed). APR rates range from 9.3% APR to 102.5%.
The QuickQuid Story
As one of the most trusted names in online credit, QuickQuid is dedicated to a more flexible type of borrowing. The brand has helped nearly one million Britons manage their unexpected expenses more comfortably. Relaunched with a new owner in 2023, our aim is to return the brand back towards the top of UK consumer credit.
Our Parent Company
QuickQuid is now part of Quick Loans Ltd 09619094. While our brands trace their origins back to 2009, the business was formally incorporated in 2015 to manage various finance brands. In 2017, we obtained authorization and regulation from the Financial Conduct Authority under number 763132.
Throughout the 14 years of our owners' involvement on UK's credit scene, none of the management team have ever had a single complaint upheld against them or any business we've been associated with by the Financial Ombudsman Service. We take pride in treating our customers with respect and transparency.
Our Vision: Our philosophy is simple: we believe it's essential to return to a time when adults were trusted to make their financial decisions, be it for better or worse. We advocate ending the long-standing government and regulatory intervention in individuals' finances. The surging government deficits and escalating national debt indicate a need for them to address their own fiscal matters first. We strongly believe that individuals are best positioned to manage their finances.
We advocate for individual freedom and consumer choice through competition rather than regulation. We consistently pursue this vision, advocating for unpopular truths and supporting regulators when they demonstrate commendable work while challenging them when necessary.
QuickQuid 2006 - 2019
From 2006 to 2019, QuickQuid was managed by several companies associated with Enova International, a United States-based company with multiple finance brands. In 2014, CashEuroNet UK LLC was established, overseeing QuickQuid until it went into insolvency in late 2019. The administration process was partly managed by Grant Thornton UK LLP and was completed in late 2022.
We maintain our own perspective on QuickQuid's insolvency. While we won't delve too deeply into this, we believe that the initial management and the industry overall could have taken more assertive action against stringent regulators. Comparing the compliance and approach of Payday Loans with the Buy Now Pay Later services, it's evident why the BNPL industry continues to thrive. In late 2023, the BNPL sector sent a clear message to the FCA: ease off regulations, or we'll cease operations, leaving consumers without access to credit, and the FCA rightly left them alone. In our opinion, the Payday Industry should have taken a similar stance in 2014.
However, what's done is done. CashEuroNet UK LLP is no longer associated with this site, or any site in the UK. It's a shame that a great credit provider like Enova has left the UK.
2006 - 2019 Complaints Against QuickQuid.co.uk
Unfortunately, we cannot address any complaints falling outside the scope of the point when QuickQuid.co.uk was added as a trading name to our FCA permissions in April 2023.
2023 Onwards - The Future For QuickQuid
In 2015, our management team made the decision to withdraw from lending in the UK. Having held a CCL (Consumer Credit License) since 2009, we anticipated the challenging environment that was approaching for UK lenders. Recent developments seem to confirm our foresight.
Fast forward to 2023, while we wouldn't assert that substantial changes are taking place, there are indications that regulators are reassessing their views on direct lenders. Regulators are noting an increase in individuals resorting to unlicensed loan sharks, sharing our concerns. It appears that they are beginning to recognise what's evident in the real world: the demand for borrowing money persists, whether through licensed or unlicensed means.
With the financial landscape in the UK's consumer market showing signs of deterioration, there's a possibility that the FCA may need to adopt a more pragmatic approach. Consequently, we are presently exploring the prospect of resuming direct lending across all our brands. Should we decide to re-enter full-scale lending, we anticipate being prepared to recommence lending around August 2024. We will keep everyone updated on the feasibility of this project."