Swift Money

What you need to know:

Swift Money is not a recommended payday lender. They do not have a terms and conditions or privacy policy section on their website, their application page is not SSL secured (this means any information you send to Swift Money may be accessible by third parties) and they are very unclear and non-transparent about their exact charges.

On their homepage they list a same day transfer charge of £15 and also a transfer charge of £10, whether this is in addition to the same day transfer charge, or is merely a typo, is unclear. We have tried contacting Swift Money on this matter but are yet to receive a response. The “About Us” section on their website is currently under construction and has been for a period of at least a month.

Criteria:

The criteria set for applying through Swift Money are fairly standard with the exception that you must be over the age of 21 years old in order to qualify for a loan. Other than that you must be in full time employment with a valid UK Bank Account and Debit card and you must also be earning over £900 per month after tax. You must also be a permanent resident in the UK.

Customer Service and Complaints:

We have uncovered a number of negative reviews about Swift Money with the most notable being people being told they are declined following being approved for a loan – whether or not this amount to the respective applicants being “pre-approved” is unclear.

Overall:

There is just too little information available on Swift Money for us to even come close to considering recommending them as a payday lender. The fact that they do not even go as far as to let the consumer know how much they will be charged for a payday loan is blatantly inexcusable. They may be a viable lender but all research and user reviews currently point to the contrary opinion. There are far superior options available out there, we recommend browsing our Payday Loan Reviews section for more information.