Wageday Advance

All one needs to apply for a wage advance loan is to be over eighteen years of age, a resident of the United Kingdom with a valid bank account and expecting to receive a pay cheque sometime soon. Evidence will naturally be expected to satisfy all these criteria before issuing a wageday loan.

Once these fairly basic conditions have been met the wageday loan money will be loaned and transferred into the borrower’s bank account within a matter of minutes. The terms given will include a repayment fee which, if multiplied appropriately over 52 weeks, will appear extremely high but within the context of the very short-term loan it remains modest. Monies owed are deducted automatically from the borrower’s bank account on an agreed day, when the pay cheque is received.

Of course, because the wageday advance is by its very nature a very short-term loan the lender will need to ensure that it receives some benefit from its issue, as well as making some provision for covering the small number of defaults that will inevitably be made. Therefore a charge will be made to the borrower and because of the number of wageday loan companies involved in the payday market this will vary considerably from one lender to the next.

Anybody seeking a wageday advance would be well advised to shop around, visit comparison sites, seek quotes and look for any hidden charges that may lurk inconspicuously at the foot of the small print. Try the above wageday loan companies to get a quote today.