QuickQuid is a direct online payday lender UK, owned since 2007 by one of the largest cash advance companies in the United States, Cash America.
Cash America operates over 1,000 payday loan stores throughout U.S. and Mexico, and their internet loan stores are available, in addition to the United Kingdom, also in Australia and Canada.
In the UK, payday advances are small amount, short-term debt products, with the borrower typically paying the loan back in full in one payment on the next salary pay day, often within a few weeks.
Because of the high financing costs (high costs of borrowing, as measured by APR (Annual Percentage Rate) of interest), these products are not suitable as financial solutions in the long run.
That is why you should always not only compare lenders' best offers to each other, to get the best deal, but also see what alternatives there are to payday advances in UK.
Some of the most often used alternatives include a small consumer loan from your local credit union, wage advances from your employer, and taking a cash advance from a credit card.
However, because payday advance borrowing is often done to fund emergency expenses, they have the benefit of being a very fast form of loan to obtain, often within the same day (express service typically carries a fee, though).
If you have decided to apply for a payday loan from the service, you need to fulfill a few basic requirements to qualify.
At the service, these include (at the time of writing this):
The amount of money you can apply to depends on the information in your loan application.
customers can get up to £1,000, while the loan amount can go up to
£1,500 for returning customers, depending on the customers history in
dealing with the service.
When you have filled in the online form and submitted the application to the service, in most cases, you can get a loan decision within 30 minutes.
As part of the verification and processing of your application, the service will run full consumer credit history checks, plus they use a proprietary credit scoring model, all with the aim of accurately assessing your ability to repay the debt.
Once approved, the loan funds will be sent by the service to your bank account within 10 minutes or less. This service, "10-Minute Money", is available 24 hours a day, seven days a week, even on bank holidays. Your bank needs to support "Faster Payments" scheme for this service to be available.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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