Loan until pay day FAQs

Loans Until Pay Day


Do you find yourself with too much month left and not enough money? Get an instant cash loan with Ramsdens Loans Until Pay Day service. Walk into any of our 66 stores nationwide and you could walk out with £600 cash in an instant!

A Loan Until Pay Day is where Ramsdens cash your personal cheques and hold them until your next pay day, you can then choose to have them banked, repay the loan or extend the loan for another month. The flexible Loan Until Pay Day service allows you to extend you loan as many times as you want- you are in control!

Don’t have a cheque guarantee card?
Don’t worry!
You can still borrow up to £600 with a debit card advance from Ramsdens.

Frequently Asked Questions

1. Can I apply online?
2. What identification do I need?
3. Can I still receive a loan until pay day if I don't have a cheque guarantee card?
4. What can a Payday Advance be used for?
5. How much can I borrow?
6. How much does it cost?
7. Can my loan until payday be rolled over/extended?
8. How long does it take to get approved for a loan?
9. Do you run credit checks prior to approving the loan?
10. I have a very poor credit history (CCJ's etc), can I still get a payday advance?
11. What if I get paid weekly?
12. I am self-employed, can I still receive a Loan Until Pay Day?
13. I am a tenant, does this matter?
14. Do you contact current or former employers?
15. What is a roll-over?
16. What if I have insufficient funds in my bank account to repay the loan?
17. Can I have two loans in the same month?

1. Can I apply online?
No, Loan Until Pay Day are only available in-store.

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2. What identification do I need?

    • Your most recent bank statement showing your salary being received.

    • A utility bill dated within the last 2 months.

    • Cheque book and cheque guarantee card.

    • One other form of identification with your signature.

Other forms of identification are acceptable. Please contact your local branch for further information.

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3. Can I still receive a loan until pay day if I don't have a cheque guarantee card?
Yes, Ramsdens offer a debit card advances.  All you need in is a cheque book and debit card.  Contact your local store for more information.

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4. What can a Payday Advance be used for?
A payday advance loan can be used for WHATEVER YOU WANT, clothes, CD's, nights out, holiday money, bills, anything at all it is entirely up to you.

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5. How much can I borrow?
You can borrow up to £600 less an interest charge.

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6. How much does it cost?

 

You borrow:

You pay back:

£84.00

£100

£168.00

£200

£252.00

£300

£336.00

£400

£420.00

£500

£504.00

£600

The interest charged is 16% of the face value of the cheque or 19.0% of the amount of credit.

For a loan over a typical period of 28 days the typical APR is 870.93%.

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7. Can my loan until payday be rolled over/extended
Yes, your loan can be extended until your next pay day.

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8. How long does it take to get approved for a Loan Until Pay Day?
Our friendly staff will give you an immediate decision and you will receive your cash instantly.

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9. Do you run credit checks prior to approving the loan?
No, we base our decision on the information that you provide us with.

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10. I have a very poor credit history (CCJ's etc), can I still get a Loan Until Pay Day?
Yes, we base our decision on the information that you provide us with.

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11. What if I get paid weekly?
No problem, the advance will be repayable on the fourth pay day after the advance. The maximum loan however will be £200.

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12. I am self-employed, can I still receive a Loan Until Pay Day?
No

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13. I am a tenant, does this matter?
Not at all, it doesn't matter what your residential status is, as long as your salary goes into your bank account.

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14. Do you contact current or former employers?
We do not contact your employer to approve your loan, we base our decision on the information that you provide us with.

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15. What is a roll-over?
A roll-over is an extension of your loan to a later pay date. You simply pay the interest only, and the loan is then repayable on your next salary date. You can roll over your loan as many times as you wish.

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16. What if I have insufficient funds in my bank account to repay the loan?
You can roll over or extend your loan by paying the interest only.

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17. Can I have two loans in the same month?
Yes, providing you do not exceed the maximum loan or your approved limit.