| QuickQuid | Within the hour - £1000 |  | Simply the best ...QuickQuid Review |  |
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| Payday Kong | Within the hour - £1000 | | No credit check ...Payday Kong Review | |
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| Payday Bank | Same day - £750** | | A broker...Payday Bank Review | |
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| Speed-e-loans | Within the hour - £250 | | Improve credit score ....Speed-e-loans Review | |
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| PaydayUK | Same day - £750 | | Responsible lending ....PaydayUK Review | |
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| Payday Express | Within the hour - £400 |  | Quick application ...Payday Express Review | |
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| Loan Advances | Within 48 hours - £1000 |  | Keeps it simple ...Loan Advances Review | |
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| Lending Stream | Same day (£15 fee) - £600 | | Transfer fee scam ...Lending Stream Review | |
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| Wonga | Within the hour - £400 |  | Rip off ....Wonga Review | |
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| Pounds Till Payday | Within 48 hours - £1000 |  | Slow payout ....Pounds Till Payday Review | |
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| Pounds2Day | Same day***(£15 fee) - £400 | | Transfer fee scam ...Pounds2Day Review | |
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| Cash Genie | Same day****(£20 fee) - £500 | | £20 fee scam ..Cash Genie Review | |
Important Notes
- The interest column shows how much you will have to pay per month for each £100 you borrow
- *The QuickQuid 30% discount rate shown is only available through this link using code PAYDAYPROMO30
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- **Payday Bank allow you to apply for £750 but applying for only a £300 loan will ensure first time applicants are accepted
- ***Pound2Day can transfer your money to you on the same day but will charge you £15 for the service, hence the 1 star
- ****Cash Genie will transfer your money the same day but they charge you £20 for the privilege so they get 1 star
- *****Lending Stream loans are over 4, 5 or 6 months which is why the APR appears to be high
A word about Speed-e-loans
Speed-e-loans report all settled debts to the credit bureaus which means your credit score will improve each time you pay the loan back as long as the debt is settled on time. They are also happy to accept clients with a poor credit history. These two factors were taken into account and earned them 5 stars despite the £30 per £100 fee. You can read how to use Speed-e-loans to improve your credit rating by clicking here.
Increase your chances of a successful payday loan application
While most payday lenders do run a credit check you will only be turned down if you try to borrow too much and they believe you are over stretching yourself. Most lenders set a limit of around 30% of your take home salary for a first time customer.
By applying for a loan below that limit you will almost certainly be accepted and then when you need to borrow again you will be able to increase the amount because you have proved yourself as a reliable customer. Most payday lenders will increase the amount you can borrow if you are a returning customer.
How We Compare Payday Loans
When we are comparing payday lenders the two most important factors we look at are how much will it cost the consumer to borrow the money and how long will it take the lender to get the money to the customer. After that we look at the application process, is it straight forward or do you have to phone them, what’s the customer service like, what is the success rate of applicants etc.
As an example you can see Payday Bank received 5 stars despite the fact payout isn’t as fast as QuickQuid and it costs slightly more. This is because they have a very high acceptance rate for loans of £300 or less which pumbed them up from a 4 to a 5.
Wonga on the other hand will pay out within 15 minutes but one of the highest interest rates in the UK means they only get a rating of 2.
How we have rated these lenders may differ to how your personal circumstances require you to compare payday loans and it may help you to write down what your own requirements are before shopping around for a suitable loan.