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Who are Quick Quid?

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 option.
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 loans.
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 applied).

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 amount.
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 here.

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 up.

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.

Licence details

  • Consumer Credit Licence: #603395
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APR

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

Money Gap Group Limited operate and own the credit brokerage site, KwikCash.co.uk. Money Gap Group 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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