WageDayAdvance (Wage Day Advance) have recently upgraded their site and have even been running recent TV ad campaigns on E4 and so it is does look like they have been keeping busy. The first thing worth mentioning here is that WageDayAdvance is advertised as a no credit check payday loan lender in the UK, but they do in fact use a search stating that this is for verification only. They state the following: “We do not do external credit reference searches other than to verify your identity”. They are fairly lenient with who they accept for loans, but if they are in any doubt then they will ask you for supporting documentation. WageDayAdvance loans range between £80 and £750, but new customers can receive a maximum of £400.

The recent upgrade has mainly been to do with their site design, although they still don’t provide online account management. One such recent change has been the interest charge that has unfortunately recently risen to be 29.5% of the loan amount borrowed and this was with a free BACS payment, but these payments are no longer legal and so the same day payment charge of £15 would be used that ramps up the overall charges. WageDayAdvance have great experience in the industry, operating since 2004, and as noted are now appearing on TV adverts so you can expect significant growth from this specialist lender in the future. It states on their site that they process around 725,000 applications per month! That would be around 23,400 applications every day (considering that they aren’t ranking for any of the major payday loan terms in Google this seems pretty unlikely).

Charges for a £100 Loan:
Charges: £29.50/£100 interest + £15 transfer fee = £44.50/£100

(tags: no credit loans, online cash advance uk, wage advance loan, wage day advance review, wages day)