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Who are Peachy?

Peachy is a trading name of Cash On Go Ltd, which has its registered address in London and has been operational since 2010.

What kind of loans do they offer?

They offer loans with multiple repayments. You can select as little as 5 days or as much as 5 months. The longer you borrow for, the more you pay overall, but the lower the monthly repayments are. Any amount of time up to 1 month involves repaying the loan amount plus interest and charges in a single repayment.
There are some restrictions as to how much you can borrow for how long. You cannot borrow under £100 for over 31 days, for example, and the full 5 month repayment time only applies for amounts over £250. You can check their website for more details.

How much can you apply for?

With Peachy, you can apply to borrow up to £500, whether you’re applying for less than 1 month or up to 5 months.

How quickly can they supply the loan?

Once the loan has been approved and confirmed, they usually take about 15 minutes to transfer the money to your account, although in some cases this can take up to two hours. This does not involve any extra charges. Some banks may not accept these faster payment, and in rare cases, it may take up to three days to show up in your account – Peachy will contact you if this is the case to let you know.

What do they charge?

This varies depending on how long you borrow for. Firstly, they charge a £5 transmission fee. After this, for up to 31 days, it works out at roughly £1 interest per day.
At the maximum repayment amount of 5 months, you will likely pay more than the amount you borrowed again, but the monthly repayments will be less, so some prefer to do this to spread the repayments out.

How do their charges work?

For loans under 31 days, the amount is charged on a per-day basis. This means that if you repay in 10 days, you’ll repay less than if you borrow for 20 days. You repay the interest and transmission fee in one payment.
For loans with multiple repayments, you pay a specified amount each month. However, you can still repay early by contacting them, and this will usually mean you pay less overall.

What optional charges do they have?

None – the only extra charge is their transmission fee of £5.

Do they charge penalties?

If you are late repaying, there will be a £25 late payment administration fee, plus £12 administration fees every 7 days after that. Interest will also continue to accumulate on the account. They recommend contacting them if you are having difficulty repaying, as you may be able to arrange alternative repayment methods rather than gaining extra charges.

Do they have TV adverts?

Yes – they started advertising in 2013.

Licence details / Awards

  • They were a finalist for a Credit Today Award (Best use of in-house technology).
  • Registered Number: 7306662
  • Consumer credit licence number of the creditor: 0637962
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APR

We work with a number of lenders and their APRs vary. This example shows the average figures.

Money Gap Limited operate and own the credit brokerage site, KwikCash.co.uk. Money Gap Limited is not a lender nor does it provide credit to consumers. If you decide to apply on this site, your application will be shown to a variety of our lending partners to consider. We receive a commission from the lenders we work with after successful applicants are passed on from this website. Approval is subject to status and all applicants must have reached 18 years of age or older. The information provided on this website is for the purpose of explaining the lending process and should not be considered financial advice.

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- Is a company registered in England and Wales with company number 6617413.
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