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 is 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 are 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. To make this easy for you, we have listed some of our loan features in this “dare to compare “ table below.

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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.

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

Short term loans like Wonga

Payday loans like Wonga

–Dynamic Loan

Interest Rate
The Wonga interest rate was 1,286% (APR) Cashfloat’s interest rate is 997% (APR)
Loan Calculator
A Wonga loans calculator was built into the Wonga loan application form. When you applied, it automatically calculated your repayments. Cashfloat also has a loans calculator integrated into the application form. In addition, you can use our affordability calculator to check your eligibility before you apply.
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.

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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.

Can I Get Loans Like Wonga 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. Submit your application today, and we will do our best to help you.

Can I Get Instant Payday Loans like Wonga with Bad Credit?

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.

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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.

Cashfloat Online Payday 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.

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Payday Loans Lenders In the UK

Direct lender Loan types Comment
New direct lender Payday loans, short term loans, Cash advances Customers choice as a new and secure alternative to payday lending in the UK.
Traditional direct lender Short term loans Quickquid was launched in 2007, the first branch in the UK of the American company, CashNetUSA.
Traditional direct lender Short term loans up to £400 for new customers Wonga infamously faced nationwide criticism before the FCA era. The company has now collapsed after a surge of compensation complaints from customers.
Piggy bank
Traditional direct lender Short Term Loans and Instalment Loans DJS UK Limited is the company behind Piggybank.
Wageday Advance
Traditional direct lender Short term flexible loans Wageday advance is a Yorkshire based company.

* We try to promote fair competition and allow customers to compare Cashfloat loans with other leading lenders in the UK. We intentionally left the Dare to Compare comparison table empty so you can make your own comparison. Cashfloat strives to make excellent financial products, but we want you to compare and make your own decision.

Getting a Wonga Loan Alternative – Conclusion

Getting a Wonga loan alternative with Cashfloat is easy! As always, it’s important to make sure that a Wonga loan alternative is truly your best option. Cashfloat is an FCA-regulated and trusted payday loan company offering loans to people even with bad credit. We offer Wonga loan alternatives up to £1500. It just takes a few minutes to apply for any of our wonga alternatives. Simply fill out our online application form, and you will get an instant lending decision. If approved, money can be sent to your bank account within an hour.