Wonga Loans Alternative

From £500 Apply now
Get your Wonga loan alternative from Cashfloat

Looking for Wonga loans online? Now that Wonga is no longer offering payday loans, you may be searching for a new alternative. Cashfloat offers loans like Wonga with the same fast payout and flexible repayment terms, but with better customer service and strong, responsible lending policies to ensure your safety. Apply now for a new and improved payday loan experience!

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Who was Wonga?

Wonga was one of the biggest payday lenders in the UK until it shut down in 2018 due to an overwhelming number of customer compensation complaints. Still, their legacy lives on, as the term ‘Wonga’ has become slang for ‘money’ in the UK. Today, thousands of people still search for online loans using terms like: “Wonga”, “Wonga loans” and even “borrow wonga”. As this is no longer an option for UK consumers, Cashfloat offers safe, fast and simple payday loans like Wonga to fill that need. You came looking for Wonga loans, and we’re here to give you information about our excellent Cashfloat alternative. If you like what you see, you can apply now for short term loans online with Cashfloat, your responsible direct lender.

How do Wonga payday loans compare to Cashfloat’s alternative?

Wonga.com and Cashfloat.co.uk both FCA-authorised firms, but there were significant differences between our lending structures. Before you take a loan online, always check all your available options. It can save you a lot of money. We always encourage our customers to compare all the credit options available for them and come back to Cashfloat once they realise our offer is the best for them.

What our customers say about our Wonga loan alternative
Mr Christopher Morgan
Verified Buyer – Reviews.co.uk

Excellent service. A great replacement to Wonga which helped me out all the time. Thanks

Emily Lawrence
Verified Buyer – Trustpilot.co.uk

Great lending company. Found this company really easy and straight forward to deal with when i received my monthly wage a few days late. They funded the same day which was the best help for me. Would recommend to friends and family!

Ms Laura Fernandes
Verified Buyer – Reviews.co.uk

Since Wonga went into administration and no longer lending I was panicked! Cashfloat have saved the day. I was worried about not getting accepted as only Wonga have ever given me a loan in the past but I cannot thank Cashfloat enough!! Thank you!!

Geraldine mcgrattan
Verified Buyer – Trustpilot.co.uk

I have the greatest respect for this company. They are efficient and as long as you keep your commitment to pay back exact amount required when required they respect you. I only require intermittently but they have never failed me. Would recommend to anyone.

How our Wonga loan alternative works

  1. Apply for your Wonga loan alternative online.
  2. Get a lending decision instantly after completing your application.
  3. Once approved, get your Wonga loan into your bank account.
  4. Make repayments online at convenient times.

Original Wonga loans

Founded by Errol Damelin and Jonty Hurwitz, WDFC UK Limited, trading as Wonga, opened its doors in 2009. Wonga was the first company of its type that offered payday loans purely online. Previously, lenders could not grant a loan without receiving physical documents from the applicant via fax or email. It didn’t take long for the start-up to take off, and Wonga took its place at the head of the payday loans UK industry. The term ‘Wonga’ is a British slang word of Romani origin which means money. ‘Wonga’ and ‘payday loans’ are now practically synonymous, due to the company’s extensive advertising.

Cashfloat is a new generation lender

As a new lender, Cashfloat’s entire business model is built to be FCA compliant and promote ethical lending in the UK. All our processes and procedures aim to uphold our customers’ best interests at all times. By default, we have an advantage over more established lenders who have had to adapt their operations to fit with the FCA regulations. You are guaranteed safety when you take a payday loan through Cashfloat because we define our success by the number of people we help, not by the profits we make.

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Can I get instant payday loans with bad credit like Wonga?

Yes! Many of our satisfied customers do not have a perfect credit score, and we are still able to help them. Our credit assessment takes affordability and many other factors into account when you apply for a loan. You may be tempted to use a lender that advertises ‘no credit check’, however, don’t fall for this as no credit check loans are not safe in the UK.

Payday loans Like Wonga

Although Wonga no longer offers payday loans online, you may find it useful to compare Wonga’s old loan terms with Cashfloat’s. This can give you an idea of how you would benefit by taking a Cashfloat Wonga alternative.

Cashfloat Wonga alternative
Lender Products
  • Wonga short term loans (Wonga did not offer long term loans)
  • The Wonga payday loan
  • Wonga Flexi loan
Interest Rate
The Wonga interest rate was 1,286% (APR) Cashfloat’s interest rate is 695% (APR)
Loan Calculator
A Wonga loans calculator was built into the Wonga loan application form. When you applied, it automatically calculated your repayments.
Mobile App
There is no Wonga loans app, but you could access their loans through any device. Cashfloat’s app is available on Android and Apple app stores.
Wonga Login vs Cashfloat Login
Although they don’t offer online loans anymore, the Wonga login is accessible through the Wonga desktop site as well as the Wonga mobile site. You can login to your Cashfloat account from any device with Internet.
UK based?
Wonga is an international payday loans company with branches in South Africa, Spain and Germany. However, Wonga no longer offers loans online or Wonga loans UK. Cashfloat is based locally in the UK. If you need anything, we are here to help! You can apply for our loans at any time.

Cashfloat’s alternative vs Wonga loans

If you decide to go with a Cashfloat direct lender payday loan, you will enjoy a whole new payday loan experience. Unlike Wonga, Cashfloat is a new lender, offering faster, simpler and more flexible payday loans. If you have any problems, you can speak to our friendly customer service team who will do everything they can to help make your payday loan work for you. We believe that payday loans should be simple and clear, with no hidden fees, and all information upfront. Try out our Wonga alternative today for a fresh loan experience.


Can I get loans like Wonga if I am unemployed?

Yes! You can definitely apply for a Cashfloat Wonga alternative if you are unemployed, as long as you have a steady source of income. This money could come from benefits, pensions or another source. Please note that all applications are subject to affordability assessments to ensure your financial stability. Apply online today, and we will do our best to help you.

Will the FCA protect me when I take out online loans like Wonga?

The FCA is there to protect UK consumers from bad conduct in the financial services industry. In the UK, the Financial Conduct Authority (FCA) regulates financial institutions, and its major role is to protect the public interest. Therefore, it’s heavily involved in protecting both individuals and businesses from fraud.

Sometimes it may not be enough to check that a payday loan company is FCA authorised. There are FCA authorised companies who receive a large number of customer compensation claims – you do not want to deal with such a firm. The huge number of customer compensation claims is what ultimately put Wonga in administration.

Firms that have something to hide will never provide a clickable link. In fact, they may decide to omit an authorisation number altogether. They may also try to mask the authorisation number as a picture, preventing you from linking through to the FCA.

Companies who aren’t upfront and honest about their ties with the FCA likely have something to hide. Given the extent of fraud in the lending space, proceeding with a questionable lender just isn’t worth the risk.

Am I eligible for a Wonga loan with Cashfloat?

In order to apply for a Wonga loan alternative with us, you must meet the folloing criteria:

  • Be a resident of the UK
  • Be over 18 years old
  • Have a UK bank account

Cashfloat Loans

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 provide you the loan ourselves, we also act as a credit broker and can help you find another lender who will better suit your needs. Need money today? Apply now with Cashfloat and feel the difference!

Representative example
Amount requested: £700
Duration of loan: 6 months
Total amount payable: £1,179.05
Installment 1
Installments 2 – 6
Installment 7
Interest is at rate of 185.39% PA (fixed) – 0.793% Daily interest cap | Representative 611.74%