Welcome to Basic Payday Loan. Payday Loan Frequently Asked Questions.

Payday Loan Criteria


* Must be over 21 and a UK resident
* Must be in employment
* Wages should be paid into your bank account
* Have a debit card for the same bank account
Payday Loan Process
Apply for a no credit check, bad credit history loan today

Apply Online
Answer just a few questions. We only ask the question we need, nothing more.

Application processed within the hour

Process your application
We will process your online application within the hour and let you know the decision.

We will contact you apon approval

Upon Approval
We post, fax or email you the agreement for you to sign.

Cash in your account.

Cash in your account
Money is paid in as cash, so you don't need to wait for it to clear. Instant cash payment.

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No problem if you have a bad credit history.

Payday Loans - Frequently Asked Questions

What is a Payday Loan?

A short-term loan that you receive as cash in your bank account usually the same day which is due to be repaid on your next payday.

What are payday loans and why do people need them?

The Payday Loans industry serves people who are short of cash before payday. It offers you the opportunity to receive a loan, which you can pay back on your payday.



Customers choose payday loans because they generally cost less than bounced cheques or overdraft fees, late bill penalties, or fees for missed credit card payments.

What can a payday loan be used for?

Anything! To go on a week-end away or Stag or Hen night, pay for a new mobile phone, buy something on sale, pay an unexpected bill, clear a credit card or avoid bank charges from going into overdraft etc.

How much does a payday loan cost?

You pay back £130 for every £100 borrowed.

Typical APR: 2340.5% (30 days)

Cost of Credit: 30%

What are the criteria for a Payday Loan?

1) To be over 21 years old
2) To be a UK resident
3) To be in full time employment
4) To have a debit card for the bank account your wages are paid into.

What if I can not be contacted?:

Please note, if we are unable to contact you on the contact numbers you have provided, the transfer of your funds may be delayed or cancelled.

What if I am paid by cash or cheque?

Your wages need to be paid into your bank account by bank transfer - we cannot approve customers for a Payday Loan that are paid by cash or cheque.

How are repayments made?

Payday Loan repayments are made by debit card.

Payday Loan Amounts?

Between £100 and £800.

If I have a poor credit history, can I still get a payday loan?

Yes – we will still loan to customers with adverse credit history and with CCJs. We just need to be sure you will have sufficient money to repay the loan.

Will you contact my employer?

No. We operate a strict confidentiality policy. We will not pass on customers’ personal information to any third party without their prior agreement, or unless the lender is required to by law. If we do contact you at work, we will not explain to anyone else who might answer the call where we are calling from and what it is in connection with.

Does it matter if I am not a homeowner?

No – it does not matter to us what your housing status is.

What if I don’t have a debit card?

We cannot provide you with a payday loan unless you have a debit card – a cash card (or no card) will not be accepted.

Do you accept any nationality of applicant?

We do – as long as you are living and working in the UK and your address documents and payslip's prove as much.

Can I get a payday loan if I’m employed part-time?

Yes, this is possible, as long as you are deemed to have sufficient money on payday to repay the loan.

Can I be accepted for a payday loan if I am in overdraft?

Yes – as long as the Approvals Team considers that you will be able to pay back the loan on your payday.

What if my salary is paid into someone else’s account?

We need to see bank statements showing your wages going into our own account in order to approve you for a loan

Can the payday loan be paid into a different account to the account my wages are paid into?

No - we need to pay loans into the account the loan was approved for, which is the account your wages are paid into.

Can I choose how much of a payday loan I want to borrow between £100- £800?

No – during the application process we assess how much you are likely to be able to pay back on your payday and this is the amount you are approved for initially.

What if I don’t want to borrow as much money as I’m approved for?

If you are approved for more money than you want, you can choose to receive less than your full available balance. So, for example, if you are approved for £400 Payday Loan, you can elect to only borrow £200, if this is all you need.

At a later date you can request to increase your balance until it reaches your approved limit, if you wish to.

If I'm asked to provide certain documents, do you require originals or copies of these?

Copies. We will accept originals, take copies and return them to you. However, we cannot accept responsibility for any original documents sent to us. We, therefore, strongly recommend that only copies are provided for an application.

What if I want the payday loan for a longer period of time?

Payday Loans are designed to be paid off on a person’s next payday. A loan can be extended for a further month by simply paying the interest and carrying the balance over to the next month. For each month that you want to extend the loan, you have to pay the interest and we will carry the balance over to the following month.

The interest does not increase – it remains £30 for every £100 borrowed. So if £200 is borrowed, £60 interest will be paid for the month that the loan is extended for. When the loan is to be cleared, the full £260 will need to be paid.

However, we do not recommend that you continue extending your loan for more than a couple of months. If you need a loan for an extended period of time, we recommend that you clear the Payday Loan and take out another type of loan designed to be paid off over a longer period of time.