Here's How It Works
Our short-term loans are designed to help you manage unexpected expenses between paydays.
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%.
(£2000† for returning customers).
20 minutes after approval.§
if eligible.
What Is Being Offered?
With QuickQuid, new customers can apply for a loan of up to £1500† (returning customers can apply for up to £2000†). Once approved, money will be sent to your bank account within 10 minutes after approval.§ If your bank does not support faster payments, it may take longer for funds to reach your account.
If a lender is unable to verify the bank account details provided in your application, they will ask for additional information before processing your loan. Once your application is complete, you’ll be able to view your contract and loan details on your online account. You’ll receive an email and text message from them as soon as your loan has been funded.
Applying with QuickQuid
We have a straightforward application form asking the minimal amount of questions necessary for any lender to come to a quick decision. As you would expect, there is no requirement to send any paperwork in support of your request. Within a few short clicks, funds could be in your account.
Here is some of the information we’ll ask for during the application process:
• Address information
We ask for your address so that we can verify your identity when we review your application.
• Employment information
We ask if you are currently employed and receiving regular paycheques before considering your application. We will not contact your employer — instead, we use third-party services to verify employment.
• Financial and monthly expense information
Information about your income and expenses gives us a picture of your financial circumstances, which helps us provide you with a suitable loan offer.
• Bank account information
If approved, we use this information to send your money to your bank account within 10 minutes after approval.§
What are the loan decisions you might receive?
Approval
Under Review
Declined
Eligibility Requirements
Valid UK bank account
Employed and, or receiving a regular income
Resident of the UK
At least 18 years old
Repayment
If approved, you will repay your loan between 1 and 12 monthly payment periods.
Standard Repayments
When your loan application is approved, you will be given details of the repayment schedule. How much you will be expected to pay, and on which dates you are expected to make repayments.
Repayments will normally be made via Direct Debits from the same bank account that the initial loan amount was paid.
Overpayments
Remember, you can also pay early at no additional cost. This can help you save money by reducing the amount you pay in interest.
Most of the lenders we work with will allow overpayments to be made. As interest is accrued daily, making overpayments will save you money. If you are expecting a injection of funds in the coming months, and paying off the loan early is a realistic possibility. You may want to check first with the lender before you decide to accept their quote.
Additional Borrowing Options
There are several additional options that may be available to customers with active loans. In addition to early repayment, which can possibly be done (depending on lender) at any time and at no extra charge, customers may be eligible for a Top-Up or extension with the lender.
Standard Repayments
When your loan application is approved, you will be given details of the repayment schedule. How much you will be expected to pay, and on which dates you are expected to make repayments.
Repayments will normally be made via Direct Debits from the same bank account that the initial loan amount was paid.
Overpayments
Remember, you can also pay early at no additional cost. This can help you save money by reducing the amount you pay in interest.
Most of the lenders we work with will allow overpayments to be made. As interest is accrued daily, making overpayments will save you money. If you are expecting a injection of funds in the coming months, and paying off the loan early is a realistic possibility. You may want to check first with the lender before you decide to accept their quote.
