Welcome to Payday Pixie, we are part of an exciting new group of financial service websites providing affordable short term loans and payday loans to the UK. We help thousands of people every week who are looking for additional finances by providing a simple, reliable and affordable financial service which introduces them to the UK's leading short term loan providers using the Monevo lending platform. We understand that being faced with financial difficulties can sometimes be a daunting prospect which is why we are passionate about supporting you every step of the way. For help with serious money problems please visit moneyadviceservice.org.uk. We believe in ensuring our customers are always in the driving seat and have full control over their payday loan allowing you to choose the exact amount of money needed for the exact duration of time that you need it for. Apply online to receive your instant decision today.
Use our home page sliders to choose the loan amount you wish to borrow and the time in which you wish to borrow for. Total Loan amount, interest rates and chosen term will be fully displayed to you.
Fill out our simple 5 minute application form and our Monevo lender matching technology will do the work for you! Receive an instant online decision. We’ll ask for your address, bank and employment details. Your application is 100% online.
Your application will be submitted to our Monevo Lender Panel. If approved you will be redirected to the lender application form where you can check everything over to make sure you are happy with it. You are under no obligation to accept and can still accept or reject the loan offer at this point.
Once you have accepted your Loan Agreement, your funds will be automatically transferred into your bank account by the Lender. You could receive your funds in just 15 minutes!**… It’s that simple!
Many milestones and key events we encounter in our lives can cost more than we may have on hand. Amongst some examples of these, you will find weddings, unpredicted injuries or illnesses, purchasing a new house, or even lending money to a loved one. The beauty of a loan is that it can help make up any shortfall, provided you fully understand the financial commitment you are making.
The conventional way of borrowing money is by using a bank. This is an excellent option for individuals who have a good credit score and credit history and in addition, some banks do still offer personal loans. However, the bank may not be an option when you have a mobility impairment, a physical injury, or love the convenience of the online world.
Online loans are the ideal way to getting to your end goal faster and from the comfort of your own home. No need for long-winded trips to the banks and no queues – all while getting the privacy you deserve while completing the online form.
As the name suggests, online loans are a method of securing a loan which does not come from a traditional bank. These alternatives shy away from the conventional lending market and while the same lending criteria (i.e., approval requirements, regulation category) are applied, the entire process is done via the Internet.
Because of the nature of this type of loan, the application is typically quicker than traditional loans. There is no need or place for extensive and invasive interview questions and no need to physically walk or drive to the office.
All you need is merely a credit check and all you have to do is await the decision. Although these loans tend to be for smaller amounts, they provide individuals with the option of getting a cash injection in situations where they sincerely need it.
An added bonus is the fact that these loans are unsecured, meaning that no collateral (i.e., house, jewelry, or car) can be seized in the event of failing to repay. Nonetheless, this does not come to say that legal action can’t be taken against you should you miss your repayment plan. Thus, ensuring that your financial health will allow you to do so is imperative.
Online Loans UK
|Payday Loans UK||Online for UK Customers|
|Payday Loans||Available Online|
|Instant Payday Loans||Instant Online Decision|
|Short Term Loans||Yes|
|Payday Loans Online||5 Minute Online Application|
|No Credit Check Loans||Performed by UK Lenders|
It’s essential to understand that online lending does not stand in opposition to mono-cultural and conventional lending options. In fact, there are many different options through which you are able to borrow money. Some of the most common and successful models are as follows:
The process of microlending involves offering a small loan to a business, either with the purpose of purchasing new equipment or for an expansion plan.
Accounts Receivable Financing
This type uses accounts receivable as a type of collateral for securing a loan. As a general rule of thumb, such loans can fund up to 90% of the payments that will need to be repaid.
Merchant Cash Advances
By using this type of financing, the business receives up-front cash in exchange for providing a small, yet agreed-upon percentage of daily credit transactions. This takes place right up to the point where the loan is repaid.
Platform lending involves using both technology and data in order to evaluate a business’s historical revenue and expenses for determining a loan – instead of a FICO credit score.
Purchase Order Loans
With these types of loans, a business can purchase inventory and the lenders can collect their payment as the stock is sold off.
Leasebacks require a business to sell its valuable equipment to the lender and then arranging a repayment plan for purchasing that material back.
Similar to crowdfunding and peer lending, peer-to-peer programs receive funding from private individuals rather than from a traditional lending institution.
Who Regulates Them?
Considered one of the most heavily regulated financial services within the UK, online loans are governed by the FCA. In fact, the FCA is responsible for ensuring the online advertisements and other ways of promoting this financial aid display clear messaging.
This includes everything that individuals should know about the process of obtaining a loan. Ambiguous or unclear messages, along with misleading information, are removed from any operating site and can even result in a serious fine.
The FCA maintains a list of fully authorized and approved companies which are allowed to promote and distribute online loans. Although we did mention that the process is quicker and more straightforward, all guidelines and procedures are intended to follow the strict guidelines imposed by the regulatory body.
It’s not uncommon to hear that numerous loan providers have gone through multiple changes in order to gain the full FCA authorization and to ensure that all their processes are compliant with requirements.
Where Are They Advertised?
Marketing online loans is a job which typically costs millions each year – for the purpose of promoting both services and products. A common way of advertising online loans is by using digital channels, television adverts, or even mainstream newspapers.
Of course, the Internet plays another critical role in the overall advertising goal, as the web is the most widely available way of promoting online products. For example, if you search “online loans” or “payday loans,” the search results will reveal at least 4 companies which advertise their products using this online medium.
In addition to these internet search options, loan companies will use emails, SMS, billboards, advertisements in casinos and other forms of banner advertising for the sole purpose of promoting their products and services.
Like many online alternatives to modern services, getting an online loan is remarkably convenient and simple, compared to writing or cashing a check, or even loan sourcing through offline means. This is especially so when it comes to short-term or emergency loans, which are much cheaper to access online.
Online loans can save you from a lot of time needed when it comes to offline loans, like standing in bank queues, signing heaps of forms, or waiting days on end before getting approval.
With online loans, approval is quick, there’s no paperwork, no queues to worry about and you get to choose between different lenders for the best rate at the touch of a button. Additionally, lenders are able to provide reduced rates when offering online loans because their own overhead costs are reduced.
You apply for online loans from the privacy of your own home, with no chance of bumping into anyone you know who might ask you questions or make comments about your financial situation. That way, you’re able to keep your finances to yourself and get your loan at the same time.
You are able to apply for an online loan at any time, on any day, even on holidays, which means no more worrying about closing times.
When applying for online loans, you have the option to verify the validity of the lender you’re applying to using the Financial Services Register to help you avoid loan sharks and bogus lenders. This protection is largely unavailable with regards to door-to-door and word-of-mouth lenders.
With offline lenders, you’re required to provide security in the form of valuable assets or possessions, as proof that you’ll be able to repay the loan. Online loans, on the other hand, offer unsecured debt, which means that you don’t have to gamble with your important possessions.
Some online lenders provide partial loans where you get approved for only a percentage of the loan, instead of the whole amount.
Online lenders offer low interest rates when compared to their offline counterparts, thanks to lower overheads and less regulatory costs associated with brick-and-mortar banking.
Lastly, online loans also give you the opportunity to look around for different options faster than you’d be able to with offline lenders. This is because offline lenders are typically picky about who they approve the loans for, based on credit scores, while online lenders provide loans regardless of your credit score.
Most of the time, people prefer to apply for short-term finance products like payday loans online because it’s a convenient way of getting quick cash to sort out unexpected emergencies. These loans usually vary in price and are available through a quick and painless process that should look something like this:
You visit your preferred lender’s website, where you’ll most probably find a form requiring you to supply information such as your full name, contact details and employment information. This form might also ask you for your banking details, so that the lender is able to link your loan to your bank account. You may even be required to supply a few references that they can contact, should you fail to meet your obligation to pay.
Next comes the initial validation phase, where the lender will quickly confirm the validity of the details you have supplied to ensure that you’ve entered them accurately. During the processing stage, the lender will prepare the data you have provided to ensure that it complements and ties in well with the information required by the underwriters.
Your application will then be sent through to several lenders who will further evaluate it and may even perform further research about you. This is all done to validate the data you’ve provided. Depending on the methods that each lender uses to achieve this, this process could take as little as two minutes to complete.
Online loan approval takes three stages: the first stage involves redirecting you to another page, where you’ll be required to sign an online signature to confirm that you’d like to receive the funds from the lender. Using the contact details you have supplied through the application form, the lender will contact you to clearly explain the loan terms.
This is so that you understand them properly, including the interest rate and payment date/s. Some lenders might want to assess and further verify your data even at this stage, with some even demanding a human underwriter before the money is transferred to your bank account.
Lastly, the money is then transferred into your bank account for you to use instantly. This could occur literally within a few hours from the time you visited the lenders webpage, making online loans a truly fast and effective finance facility
Our short-term loan products can make the funds available to you within the same day as your application, or at the latest on the next business day.
Our sophisticated security measures include cutting edge encryption technology that gives you peace of mind, knowing that your information remains completely safe and protected.
We’ve Got a Network of Lenders
With us, you have far more lenders to choose from, which increases your chances of getting quick loan approval. We also give you access to truly competitive rates, regardless of your credit score.
We cater to all credit types, so if you don’t get approved for a larger amount, you are still able to apply and get approved for a short-term facility such as a payday loan.
Our application forms are straightforward and short, plus there are no long queues for you to stand in. In no time at all and with minimal effort, you will be able to receive your loan.
Our lenders will provide you with all the information you need in order to make an informed decision about the loan facility you’re choosing. This includes providing you with a clear explanation of the terms.
Different types of lending options are available for you, but ultimately, it will depend on your financial situation and the reasons for which you are taking out a loan. The most important piece of the puzzle is understanding that you have options available for you and that your lack of cash doesn’t have to bring you more stress and anxiety.
Nonetheless, remember that you need to feel confident in your ability to repay a loan over time. Thus, ensure that your financial situation will not subsequently decline.