Cash Bob is a specialist direct payday lender in UK, lending short-term small consumer loans for sums between £100 - £800.
Payday advances are intended in the UK to be used for short-term
shortfalls in personal finance, such as medical emergencies or other
similar unexpected expenses.
Because of the high borrowing costs (high annual percentage rates (APRs) of interest) of these loans, they are NOT suitable as solutions for long-term money problems.
Due to this, you should look into cash advance alternatives in UK even in the short-term, such as taking a salary advance from your employer or a cash advance from a credit card.
For getting one of the payday loans, one of the central prerequisites is typically having a steady employment and income, and the company applies this same requirement.
If you have not loaned from the company before, first time borrowers are limited to lending a maximum of £200, while the maximum to old customers is up to £800.
This is an online operation based out of London, UK, with the available loan sums ranging from £100 - £800.
Once you've chosen a suitable loan sum, you need to fill out the online application form, which takes just minutes to complete.
After you've submitted the application, the firm will review and verify your data, in order to make a data whether or not to approve the loan application.
If the loan application is approved, before getting the funds, you need to electrically sign the loan agreement, after which the money is transferred to your bank account.
If you choose "Faster Payment Service" (which has an extra fee associated with it), and your bank supports this feature, the money is transferred within 15 minutes after approval.
According to the company's FAQs, if they get your application after 14:30, then the money will be transferred the next banking day.
After getting the loan, the firm will send you an invoice, which states the total amount owed, after which Cash Bob will collect the amount on the agreed date.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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