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 in place to ensure your safety. Apply now for a new and improved payday loan experience!

Click to apply for a safe wonga alternative

Who is Wonga?

Wonga was one of the biggest payday loan lenders in the UK until it shut down in 2018 after an excessive amount of compensation complaints from customers. Still, their legacy lives on, as the term ‘wonga’ has become a slang term for ‘money’ in the UK. Even today, thousands of people in still search for online loans using terms like: “wonga”, “wonga loans” and even “borrow wonga”. At Cashfloat, it is imperative to us that our customers feel safe and secure when applying for a payday loan with us. If you arrived at this page with the intention to get an instant loan from a secure direct lender, you are at the right place.

How Do Wonga Payday Loans Compare to Cashfloat’s Alternative?

Wonga.com and Cashfloat.co.uk both FCA-authorised firms acting in the UK. But that doesn’t mean that they are always the same. 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 home to Cashfloat once they realize 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.

What Wonga’s Origins?

WDFC UK Limited, trading as Wonga, opened its doors in October 2009. It was founded by Errol Damelin, who was joined by Jonty Hurwitz, a software engineer, three months later. Wonga was the first of its type; previously, no loan could be granted without physical documents being faxed or emailed to the lender. It didn’t take long for the start-up to take off, and Wonga took its place at the head of the payday loans industry in the UK. The term ‘Wonga’ is a British slang word meaning ‘money,’ of Romani origin. ‘Wonga’ and ‘payday loans’ are practically synonymous, due to extensive advertising by Wonga.

Wonga Cashfloat Wonga alternative
Lender Products
  • Wonga short term loans (There is no such thing as Wonga long term loans)
  • The Wonga payday loan
  • Wonga Flexi loan
Interest Rate

The Wonga interest rate is calculated at 1,286% (APR)

Cashfloat’s interest rate is 997% (APR)

Loan calculator

A Wonga loans calculator is built into the Wonga application form. When you apply, it will automatically calculate repayments for you.

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 available as of now. Still, Wonga loans are fully accessible through any device.

Cashfloat’s app is available on Android and Apple app stores.

Login Facilities

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. Wonga no longer offers loans online

Cashfloat is based locally in the UK. If you need anything, we are here to help! You can apply for our loans at www.cashfloat.co.uk

Will the FCA Protect Me?

The FCA is there to protect UK consumers from any harm caused by bad conduct in the financial services industry. In the UK, the Financial Conduct Authority (FCA) regulates financial institutions. 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 have been companies who are receiving a large number of customer compensation claims – you do not want to deal with such a firm. The short term loan company Wonga has recently received a huge number of customer compensation claims which may cause them to fall into 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 that aren’t upfront and honest about their ties with the FCA most probably have something to hide. Given the extent of fraud in the lending space, proceeding to take out a loan just isn’t worth the risk.

Cashfloat is a New Generation Lender

Born after the new FCA regulations, Cashfloat has built their entire business model on ethical lending. All our operations and processes are based on providing a moral and ethical lending process in the UK. Just by default, we have an advantage over more established lenders who had to adapt their method of operation to fit within the FCA regulations. You are guaranteed to be safe when taking 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 a Wonga Loan Alternative With Bad Credit?

Yes! Many of our satisfied customers do not have a perfect credit score and we were 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.

Cashfloat Online Payday Loans

If you decide to go with a Cashfloat direct lender payday loan, you will experience a new payday loan experience. Unlike Wonga, Cashfloat is a new lender, offering fast, 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 you payday loan work for you. We believe that payday loans should be simple and clear, no hidden fees and all information should be upfront. Try our Wonga alternative today for a fresh and quick short term loan experience.

Payday Loans Lenders In the UK

Company Direct lender Loan types Comment
Cashfloat New direct lender Payday loans, short term loans, Cash advances Customers choice as a new and secure alternative to payday lending in the UK.
Quickquid Traditional direct lender Short term loans Quickquid was launched in 2007, the first branch in the UK of the American company, CashNetUSA.
Wonga 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 do your own comparison. Cashfloat try to be the best for you 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! If you are thinking of going for a Wonga loan, be sure to confirm you are getting the best deal availble for you. If not, a Wonga loan alternative may be the other option. Cashfloat is a FCA-regulated and trusted payday loan company offering loans to people even with bad credit. We offer Wonga loan alternatives up to £1100. To apply for any of our wonga loan alternatives just takes a few minutes of your time. Just 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.