Wonga only arrived on the scene in late 2007 and yet they have quickly emerged as a major payday loan lender alongside PaydayUK and QuickQuid. This London-based cash advance company boasts a truly unique loan product that is shaped around great flexibility. You pick the exact loan amount to the £1 and also select the exact day that you will pay the loan back on. Most payday lenders have a minimum loan requirement of £80 or £100, but with Wonga you could borrow for example £33 that may be all that you need and could manage to afford. Picking the loan term is another impressive quality, since shorter loan terms will reduce the interest rates that will have to be paid and many of us of course have weekly pay that many payday loans aren’t really designed for. Wonga loans are available up to a £400 for new customers, whilst returning customers can apply for £1000.

Wonga use the Faster Payments Service and so can transfer the desired funds to your bank account within 15 minutes (there is a guarantee for this I believe). These are no fax cash advances, everything is simply carried out online and there will be a credit check made. They do accept customers with a bad credit rating and to support this you should really apply for smaller cash amounts and build up your trust with them (and your credit rating). Wonga are now running regular TV ad campaigns and of course are the kit sponsors of Blackpool FC. They also have an excellent search engine presence to match their offline ad campaigns. There are various Wonga-related postings coming over the future months, since they are a highly recommended payday lender here. The attached Wonga promo took away £5.88 from the loan amount, which was more than the £5.50 transfer fee that the promo was for.

Charges for a £100 Loan (7 day term example):
Charges: £7.28/£100 interest + £5.50 transfer fee = £12.78/£100
Charges: £6.90/£100 interest + £0 transfer fee = £6.90/£100 (vll462 promo)

(tags: quick easy payday loan, unique short term loans, urgent loans uk, wonga review, wonger loans)