Wage Day Advance AlternativeFrom £500 Apply now
Need a wage day advance loan today? We really want to help. Try our new alternative to wage day advance lending! Apply now and receive an instant decision. You can get up to £1,000 within 1 hour, if approved. We are a direct lender and bad credit is welcome!
All you need to know about your Wage Day Advance
It’s getting towards the end of the month and you are running low on cash. Don’t you wish you could get your paycheck just a few days early? Well, with a wage day advance, for a small fee you can borrow that extra bit of cash until you get your paycheck. Cashfloat provide short term loans at an affordable price designed to tide you over until your next payday. With our dynamic wage day advance loans, you can repay all or part of your loan early, saving on extra interest. Cashfloat- helping you step into the new month with ease.
A fantastic service! Refreshing, esepcially when comparing others on the market- there is no comparison. I cannot thank you enough 🙂 – Sean.
Really happy I found this company. Easy going and affordable. I’ve had no problems and it’s quick, straightforward and repayments are hardly noticeable on my bank balance ? I would highly recommend this company.
Cashfloat make the whole job simple, easy forms, good communication and more importantly they will listen to you the client, also rates are very competitive in this market and if you can pay early then the interest will come down. Overall I would only use cashfloat in this market sector currently.
I found them to be a very friendly company, easy to contact and very understanding. Couple of my friends have used them as well.
How our Wage Day Advance loans works
- Apply for a wage day advance loan online.
- Get your lending decision within 90 seconds.
- Once approved, you can receive your loan within an hour.
- Make monthly wage day advance repayments to Cashfloat.
What is a Wage Day Advance?
A wage day advance (or wda) is when your place of work pays you your salary a bit early at your request. This can also be called a salary advance. So, for example, if you’ve had an expensive month and just need a small cash injection to help you get to payday, you can ask your job for a wage advance.
What is a Wage Day Advance loan?
A wage day advance loan is where you will get your wage day advance from a short term loan company. You may find this useful if your employer will not give you your salary in advance. At Cashfloat you can receive the money today, and repay it after receiving your paycheck. Apply now for your wage day advance loan!
Can I get a Wage Day Advance loan with bad credit?
Most lenders, especially more traditional ones – like banks – will not lend to you if you have bad credit. Still, there are a few online wage advance lenders who will seriously consider your request for a wage advance loan even if you have poor credit history. At Cashfloat, bad credit wage advance loans are our specialty! And, if you repay your loan on time, you may even have a better chance of being approved in the future!
Wage Day Advance payday loans
Payday loans can help you when you need a wage day advance. Payday loans help to bring your wage day that bit closer, by giving you the money ahead of payday. Then, when you get your wages, you can pay back your payday loan with the wages that you receive.
But, be aware that payday loans are a type of short term loan UK for emergency situations only. If you can postpone your expenses a few more days until payday, you will be much better off. Try to find an alternative arrangement to taking a payday loan or a wage day advance. For example, you might be able to borrow money from a relative, or ask someone to pay for you using their credit card. Payday loans are only for a last resort, when you have no other way of making it to payday with your finances still intact.
Real life example:
Let’s say that your wage day is at the 25th of the month. For our example, today is the 5th. Unfortunately your car broke down and now you need £500 you didn’t plan to spend. Sure, you can wait until your wage day in 20 days, but how will you get to work every morning?
You start thinking about the options available to you, and search Google for Wage day advances or wage day loans. Google will probably offer you some good lenders that would be happy to give you £500 for 20 days. If we calculate the loan with the FCA maximum daily interest rate for twenty days, it would come up to around 16%. In other words, on your next wage day you will have to pay around £580 pounds back.
Get your Wage Day Advance alternative today!
Tips for using payday loans as a Wage Day Advance
Here is one tip that can save you a lot of money: Look for a direct lender that allows you to pay the loan early without any penalties. Apply for a loan over a longer period of time, rather than just over a few days. If you can, pay it early and cut the total cost of the borrowing. A two monthly instalments loan is by definition more affordable than a single payment one. If you can pay it early without any penalties, you’re a winner. Even more so, taking a loan for few days and paying it all in one instalment may even increase the risk of getting into expensive arrears.
How are Wage Day Advance loans regulated?
Before the FCA regulations were introduced in 2014, various popular lenders took advantage of people looking for a wage day advance. They charged a ridiculously high compound interest rate for loan borrowed for just a few days. The shorter the loan was for, the higher the APR was. With the introduction of the FCA regulations, these lenders could no longer take advantage of vulnerable clients, and were forced to cap their daily interest to a maximum rate of 0.75% per day.
Despite the FCA’s many efforts to educate the market, many consumers are still searching for old-school, expensive borrowing options. In this article, we tried to explain fresh alternatives available for consumers in the UK to obtain affordable loans online. As a responsible lender, we encourage our customers always to look for a better alternative for their current financial situation. Remember, instalment loans from a direct lender like Cashfloat can be paid early, and therefore may be a better choice for people searching for wage day advances.
How long does it take to get a Wage Day Advance?
If you need a wage day advance, you will need to approach your employer. Depending on Your company’s HR rules, different companies will deal with wage advances differently. Getting a salary advance from your employer could save you money in interest you would pay to a traditional lender. However, it’s not always easy to admit your hardship to your boss and ask for a wage advance. In addition, some places of work will not consent to pay you your wage early. In these situations, taking a wage advance loan may be your only option.
Where will I find Wage Day Advance loans in the UK?
Wage day advance loans can be found online, from websites like Cashfloat.co.uk. As with any online product, make sure to check that the website and lender you are using are safe. Once you’ve found a wage day loan lender, all you have to do is fill out a simple application form and sign a digital contract. Then, if the request is approved, you can receive the money by the same day. Normally, wage day loans are repaid on your wage day in one lump sum. However, with Cashfloat, you have the option to repay in instalments, making repayment easier and more manageable.
What will a Wage Day Advance loan cost me?
Every loan company is different. At Cashfloat, we charge no more than 0.74% interest per day. The full cost is laid out when you fill out the form. Is it an amount you can afford? Think about it – will you be able to pay all your other expenses, or will you need to take out another loan? If your answer is not a definitive YES I CAN PAY, you may want to consider an affordable alternative. As well, try to avoid companies advertising wage day loans no credit checks
A wage day advance loan is a handy financial instrument but at the same time, might not be the cheapest option available for you in the market. Here at Cashfloat, we encourage all our customers to check for alternatives before applying for this sort of credit. Yes, we are a direct lender and yes, we are fully FCA-authorised. We will treat you fairly, keep your data safe and do anything in our power to help. But, we may not be the cheapest option available for you. We want to ensure that when you apply for payday loan with us, you understand the terms and are happy with our product.
What is the process of getting a Wage Day loan?
To apply, all you have to do is fill out the online application form. You will then get a 90 second decision. If approved, new payday loan lenders like Cashfloat offer same day funding without any extra charge.
As well, the best lenders in the UK offer early repayment as part of their “treating customers fairly” policy. So, you can take a £500 loan for two months. This means that in twenty days you would have to pay only £300 instead of the whole amount. If, in twenty days, you can afford to repay the amount in full, go ahead and pay it all to close the loan. If not, it’s as if nothing happened, you can close it at your next wage day without extra charges other than the normal daily interest.
Who is the Wage Day Advance company?
The Wage Day Advance Company was a short term loan company that went into administration on 25 February 2019. Since then, they no longer accept applications for wage day advance loans. However, feel free to apply with Cashfloat for a wage day advance loan.
Cashfloat offers payday loans between £500 and £1000 with repayments made over 3-6 months (7 with easy start). With our simple and straightfoward application process, your loan can be funded within 1 hour of approval. Our customer support team are available to help you with any queries you may encounter during the loan process. You can reach us via live chat, email or telephone. If we can’t fund you the loan ourselves, we also act as a credit broker and can help you find another suitable lender who will better meet your needs. Need money today? Apply now and experience the Cashfloat difference!