Wage Day Advance

What you need to know:

Wage Day Advance is one of the bigger lenders in the UK and offer loans up to a value of £750 (new customers are generally not permitted to apply for the maximum loan amount). Wage Day Advance has a transparent charges structure – everything you are charged is laid out in front of you and easy to view via their payday loans slider. The maximum loan term for loans through Wage Day Advance is 45 days.

At a charge of 25% for every £100 borrowed, Wage Day Advance offers a relatively standard charging structure when compared to other payday lenders reviewed on Quick Payday Loans. Whether you should opt for Wage Day Advance depends on what you’re looking for from a payday loan.

If you expect to be able to repay your loan over a shorter duration then you may be more suited to Wonga.com or Safe Loans – Wonga and Safe Loans charge 1% per day and thus you are charged 7% for every 100 borrowed over the duration of one week. Similarly, Txt Loan charges 10% on every £100 borrowed over the course of one week. Wage Day Advance has an SSL encrypted application page (this is a positive sign and means any data you send to them is encrypted and cannot be read by any third party).

You can get your loan the same working day however you will be charged £15 for the privilege of doing so. Alternatively, you can apply for and receive your loan the same working day by heading down to one of their stores. Standard transfer can take up to four working days and is free of charges.

Criteria:

The criteria set down by Wage Day Advance is relatively standard when compared to that of other payday lenders – you must be a permanent resident in the UK and have a valid UK Bank Account into which your regular monthly pay cheque is paid. You must also be over the age of eighteen years old and be in full time employment. These criteria are standard across payday lenders. Wage Day Advance stipulates that they accept over 85% of all applications made through their website or offline stores.

Customer Service and Complaints:

On the whole customers appear to be relatively happy with the standard of service offered through Wage Day Advance – we have come across relatively few complaints thus far. The main bone of contention is with the £15 same day transfer charge, however this can be remedied by ensuring that you ALWAYS check the terms and conditions prior to applying for a payday loan (and that goes for any company, regardless of stature or size).

Overall:

Wage Day Advance is a reputable, UK based lender with an offline presence. With the cost of same day transfer included their charges are slightly higher than average and it make take somewhat longer to receive your loan from Wage Day Advance than from other more established lenders like Wonga. Nonetheless, Wage Day Advance offers a very viable, reputable and trustworthy service and is a recommended payday lender.