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The post titles here are usually written as for example "CFO Lending" and then "CFOLending", but Capital Finance One has replaced the latter since that is their past name used. CFO Lending (Capital Finance One) is a payday brand from CFO Lending Ltd who are also the team behind Payday First who have been introduced in a separate posting. CFO Lending operates via www.cfolending.com that was only setup a few months into 2012. Although now known as CFO Lending, I believe they used the full name of Capital Finance One before this time and have now rebranded using the initials + Lending. The available CFO loans range from £75 to £600, charging £49 per £100, whilst Payday First improves this rate at £39 per £100.
- Each lender will have set requirements in place. The usual expectations would be being a UK resident aged 18 or above. Full time employment with a monthly wage above £750 is a common requirement.
- Most online lenders will run a credit check on application. This search will look at your past credit activity and will be used to verify that you are who you say you are.
- Supporting documentation (by fax) may be asked for. This would usually be the case when a credit check fails or if there is a discrepancy on application.
- Reputable lenders will transfer the cash between 15 minutes and just a few hours time. This transfer will be made via the Faster Payments Service.
- Always be fully responsible to these debts to avoid expensive charges. Loan defaults will be reported on your credit profile.
Payday First (PaydayFirst) is a payday brand from CFO Lending Ltd. They alternatively lend via another site by the name of CFO Lending (Capital Finance One) that will be covered in another posting here. Payday First can be reached at www.paydayfirst.co.uk whereby payday loans between £75 and £600 will be available. The cost of Payday First loans is set at £39 for every £100 that you borrow. There is a noted £5 admin fee although I believe that this is already included in the cost since it states "Interest & Fees" on their payday loan calculator. There is no transfer fee charge and from the looks of it this should be a same day transfer via the Faster Payments Service.
Wizz Cash (or WizzCash) is a payday loan brand from Emergency Cash Limited that is accessible via www.wizzcash.com. This introduction was initially posted around the middle of September in 2012 when Wizz Cash had only just launched. I usually give new payday lenders some time to develop, but wanted to cover Wizz Cash since they offer a very competitively priced 3 month loan. £200 to £300 is available to new customers, whilst £1000 will be possible to existing customers. I worked out via their calculator that a £100 loan would cost £41.50, but remember that this is spread over 3 months and so the monthly cost would be £13.83 per £100 that is impressive.
Zebit is a unique loan product that launched in 2011 and is a brand from the Lending Stream. There is certainly much hype surrounding Zebit who may just be the new Wonga. Between £50 and £800 is offered either as cash in your bank account or as funds placed on a Zebit pre-paid MasterCard. There is a free virtual Zebit card whereby funds are instantly available to use at any site that accepts MasterCard (just enter a number). There is additionally an enhanced virtual card and a physical Zebit card that will be sent via the post (fees attached with both upgrades). For cash in the bank you can choose a free transfer or a same day transfer at £15.
Pounds Till Payday (PoundsTillPayday) is a payday loan brand from the same company behind Swift Sterling. The Swift Sterling brand from this company is notably more popular than the Pounds Till Payday brand. As with Swift Sterling, this is a trading name of Northway Broker Ltd (who are a broker) although the lender is Northway Financial Corporation Ltd who are part of the same company. Although branded as Pounds Till Payday, they can be found located under the My Pounds Till Payday domain of www.mypoundstillpayday.co.uk. I'm not sure why they have switched, but they have most commonly operated under www.poundstillpayday.co.uk over the years. This is now only used with account management (detailed below).
PoundAccess (less termed as Pound Access) is a flexible text loan brand arising from "Via SMS UK Ltd". PoundAccess appears to be one of the newer text loan lenders on the block and so carries little popularity in comparison to the likes of for example MiniCredit and TxtLoan. These loans available via www.poundaccess.co.uk carry great flexibility in regards to the available loan amounts and the term range. The loans start from just £1 and rise up to £500. The term range can be anything between 1 and 30 days. A £100 loan for 7 days would cost £12.25 that includes a £5 transfer fee with this overall charge being a little more expensive than other text loan lenders...
MCO Capital has been shut by the Office of Fair Trading (OFT) and fined £544,000. MCO Capital traded as Help Loan (HelpLoan) that was located at www.helploan.co.uk. Before reading about this company in the news, I had actually never heard about this payday lender before. Help Loan took various applications that were made by fraudsters and they then chased up these debts with people that had been the victims of this identity theft. This appears to have took place from the lender failing to check the identities of its borrowers. MCO Capital now has 28 days in which to appeal against the revocation of their consumer credit licence, although I don't expect them to get this back...
Most of the searches for this lender are made under Cash Call and so they will be referenced this way (they do brand themselves as CashCall on their site though). Cash Call loans are accessible today via www.cashcall.co.uk with there being a small demand for them at this time (there is significant demand though for a company operating under the same name in the United States). The local Cash Call in question arises from CashCall Finance Ltd that offer loans between £100 and £750 (£300 for new borrowers). These loans are available between 7 days and up to 35 days with the interest being charged at 1% per day and so for a £100 loan...
Umbrella Loans (UmbrellaLoans) is one of the newer lenders on the market today based in the north west that arrived in the year 2010. The payday loans available here at www.umbrellaloans.co.uk range between amounts of £100 and £500. The interest is charged at 25% and so you would pay £25 in charges on every £100 borrowed that I believe includes a free same day payment. Customers are provided with account management, but there has always been a problem with the application security. There is a Go Daddy security badge on application, but the data was not encrypted. It looks like they are payday loan trade association members that is good to see...
There are similar searches conducted for both Cash 365 and Cash365 and so it is Cash 365 that has been used since this is how the lender lists them. This is one of the least popular payday lenders in relation to searches conducted on Google. Cash 365 certainly deserves more exposure from what is an impressive loan service available via www.cash365.com. This payday lender based in the Isle of Man offers loans between £50 and £500 (restriction of £200 for new customers). The cost of the loans is set at 30% of the loan amount borrowed and there will be an admin fee of £6.50 that would make up the fast transfer cost. Cash 365 are of course branded around being 365 day loans...