QuickQuid are one of the better known short-term lenders in the UK. They’re a trading
name of CashEuroNet UK LLC, who are based in Delaware in the United States (although
they have a correspondence address in Haringey in London). They’re the same company
who trade as Pounds to Pocket.
What kind of loans do they offer?
They offer both short-term payday loans up to 3 months and ‘Flexcredit’ loans of
up to 10 months.
With a payday loan, you repay over a small number of payments. You can repay in
a single instalment to prevent interest from building up, or you can repay over
2 or 3 months to spread out the cost a little more. While these options are more
expensive overall, the monthly repayment amounts are smaller than with the 1 month
With flexcredit loans, the same applies, but you can repay over up to 10 months.
Because of this, the overall amount can be a lot more the longer the time you repay
over, but the monthly amounts are a lot smaller.
How much can you apply for?
If you’re a new customer, you can apply for up to £1000 with QuickQuid. You can
apply for that whether you’re applying for a short-term loan or their flexcredit
If you’ve used them before, you can apply for more – up to £1500. Again, that’s
the same amount whether it’s a short-term loan or one of their flexcredit loans.
How quickly can they supply the loan?
It can be as little as 10 minutes from your application being approved. Approval
can take up to 30 minutes. If your bank does not support fast transfers, they transfer
it by 2.30pm either the same day or the following day (depending on what time you
What do they charge?
This varies depending on a few things. If you borrow for a single month, you can
repay either £20, £25 or £29.50 per £100 per 30 days, depending on what tier you
are in. Tiers are determined using your credit history, employment history and repayment
history, along with other factors. The higher your tier, the lower the repayment
The overall repayment amount increases the longer you take the loan out for, however
the monthly repayment amounts are smaller as a result. If you receive an offer from
them, you can check out their repayment options before making any choices by going
How do their charges work?
For short-term loans, you will be charged a specific amount per month. So if you
repay within 10 days, you’ll repay the same as you would repay within 30 days. For
longer term loans, you can repay earlier to save more interest by contacting them
to arrange repayment.
Repayments are set up and made using continuous payment authority, which allows
them to withdraw the money using your debit card details. This can be cancelled
by contacting QuickQuid or the lender, but other methods of repayment must be set
What optional charges do they have?
There are no extra or optional charges.
Do they charge penalties?
QuickQuid charge a £12 late fee per missed payment and interest will continue to
gather on the account. If you default, you may be expected to pay costs incurred
in legal claims.
Do they have TV adverts?
Yes, they do. Their current TV campaign is based around their ‘innovation labs’
as scientists attempt to come up with complex ways of improving their service.
- Consumer Credit Licence: #603395