QuickQuid: Breaking Through the Stereotype

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As the online payday lending industry continues to grow, so does the criticism surrounding it. According  to some pundits, online lenders are only good at three things: exploiting the poor, preying on the weak and overall taking advantage of those in need of money. But QuickQuid customer Roger disagrees. He believes that the United Kingdom’s premier online provider of payday loans’ “… service is by far the best service of its kind,” he said. “It is the feel-good factor to be able to transfer funds so quickly in case of a payment oversight or a sudden unplanned expense arising. Excellent and easy service — 10 out of 10.”

Committed to helping Britons bridge the gap between paydays from the comfort and privacy of their own homes, QuickQuid is fully aware of the supposed “stigmas” surrounding online lending. But that hasn’t prevented it from doing what it does best — help people manage their immediate costs. According to a January 2012 QuickQuid customer survey, 23.6 percent of borrowers used their last payday loan to help cover emergency expenses. Additionally, 13.48 percent of borrowers used their last payday loan to avoid unauthorised bank overdraft charges.

“I had huge bank charges looming if I didn’t pay a couple of bills and by getting a QuickQuid loan, I was able to pay the bills and pay less in charges,” Caron, a QuickQuid customer, said.

From emergency expenses to car repairs to medical expenses, payday loans are designed to help consumers alleviate some of their immediate financial hardships. And contrary to what many critics believe, their purpose isn’t to harm or place a borrower further into debt. QuickQuid, in particular, is committed to responsible lending and doesn’t concern itself with the opinions of critics and skeptics; it’s the customer’s opinion that defines QuickQuid’s quality of service.

When asked what she would do if payday loans were not available to her, Gillian, another QuickQuid customer, replied: “I would be in debt immediately with bank charges and would not be able to cover everyday items.”

QuickQuid’s purpose is simple — close the UK’s credit gap one customer at a time.

Data and comments based on January 2012 QuickQuid customer survey 

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