Frequently Asked Questions (FAQs)


Top Questions From Our Users

Do I have to pay an upfront fee for the loan?

There are no upfront fees when applying for a payday loan on Cash Tonight. We provide a free online loan matching service that helps bridge the gap between you and a lender. If you meet the criteria and are approved by a lender then you are given the option of entering into a borrowing agreement with that specific lender. Please make sure you read the terms and conditions of the specific lender you are matched with. Please also make sure that you understand the repayment/interest fees of taking out a payday loan.

Most of the lenders that Cash Tonight works with require no upfront fees but in case you do not qualify for a regular payday loan you may be redirected to an alternative lender that will fund your loan for an up-front fee or membership fee. Again, please make sure you read the terms and conditions of the alternative lender you are redirected to.

However if you are matched with one of the lenders that require an upfront fee but do not wish to pay it you can find other payday loan alternative options on our website.



If I live on benefits can I apply for a payday loan?

Yes, if benefits are your main income you can still apply for a payday loan on our website as long as you meet the other requirements such as: being a UK resident over the age of 18 with a bank account that can receive direct debit. Please make sure that you write “Benefits” in the Company Name field.

There are different types of primary income that are accepted by the lenders, not just full-time employment. The other types of primary income that you can choose from when applying for a payday loan are: disability benefits, pension, unemployed, part time employment or self employment.



How quickly will the money be transferred to my bank account?

This is subject to approval times and the lenders’ own policies. In most cases, funds will be deposited the same working day, if approved by 14:30 pm. Once you submit your application it can take up to 30 minutes for the approval process to be finalized. Please be sure to read the terms and conditions of the lender you are matched with to understand specifically when the money will be transferred to your bank account.

If the application is not approved before 14:30 pm the money will be transferred to your bank account the next day. In case you submit for a cash advance during the weekend the money may be transferred to your bank account on Monday, depending on the lender you are matched with. Some lenders will fund loans even during weekends. Again, please be sure to read the terms and conditions of the lender you are matched with to understand specifically when the money will be transferred to your bank account.



How do I pay back the loan?

In most cases the full cost of the loan will be withdrawn from the user’s bank account on their next pay day. However this is not the only way the loan can be paid back. An installment plan can be implemented for customers that are unable to repay the entire loan on the next payday. Please be sure you read the terms and conditions carefully of the specific lender that you are matched with. It is important that you also learn about the specific lender’s repayment options.

Customers that choose to extend their loan will have to pay the finance charge for the loan on the next payday and have the loan deferred until the following payday. The deferred loan principal will then be repaid on the following payday with an additional finance charge. Again, it is very important that you understand the specific lender’s repayment options.

We recommend you repay the full amount of borrowed money on your first payday but if that is not possible, paying back as much as possible on the first payday will help you lower the total cost of the loan.

We also recommend that you repay the full amount of borrowed money on your first payday because that is a way to improve your credit record. If you take out a payday loan and pay it off on time, this will be reflected to a Credit Reference Agency. If you show a pattern of taking out a loan and always repaying the loan under the agreed timeframe, this will cause a beneficial impact on your credit record.



Can the loan be paid back in more than one payday?

Most lenders that Cash Tonight works with will offer you an extension on your loan if you are unable to repay it in full on your next payday. This however is not cost-free. If you choose to extend your loan you will be required to pay the finance charge on your next day while your loan principal will be deferred until the following pay date with an additional finance charge. Please be sure you read the terms and conditions carefully of the specific lender that you are matched with. It is important that you also learn about the specific lender’s repayment options.

To reduce to total cost of the loan we recommend you pay the full cost of the loan on your first payday. If however you are unable to repay the loan in full we suggest you pay as much as possible on your first pay day and defer the rest until the following payday. It is important that you contact the lender you are matched with to discuss different repayment options.



I have applied for a loan. Was my application approved?

Once you have an applied for a payday loan on our website it takes up to 30 minutes for your application to be processed and approved or disapproved. If approved, you will be contacted directly by the lender you are matched with by phone or email.

Please note the money deposited into your account is subject to approval times and the lenders’ own policies. In most cases, funds will be deposited the same working day, if approved by 14:30 pm. Once you submit your application it can take up to 30 minutes for the approval process to be finalized. Please be sure to read the terms and conditions of the lender you are matched with to understand specifically when the money will be transferred to your bank account.



Can I still apply for a payday loan even with a less than perfect credit history?

Yes, you can still apply for a payday loan with a less than perfect credit history. Some of the lenders we work with accept all customers regardless of credit history.

All loans are subject to credit approval. Credit checks may be performed by the lender you are matched with before your loan is funded. Traditional credit checks are used to verify the applicant’s credit with the help of various national databases.

Most of the lenders working with Cash Tonight may still accept your application even if the credit check shows you have a less-than-perfect credit history.

Please note that a payday loan is a short term loan that can be used to cover urgent expenses. Payday loans are meant to be paid in full on your next pay day. They are not meant to be and are not suitable to be used as a long term solution for financial difficulties.



General Payday Loan Questions

What is a Payday Loan?

A payday loan is a short term loan that can be used to cover urgent expenses. Payday loans are meant to be paid in full on your next pay day. They are not meant to be and are not suitable to be used as a long term solution for financial difficulties.



What are the advantages and disadvantages of using payday loans?

Advantages:

  • Applying online is quick and convenient (you can apply from the privacy of your own home).
  • The money could be in your account in less than 24 hours (Subject to approval times and lender's own policies. In most cases, funds will be deposited the same working day, if approved by 14:30. Approval may take up to 30 minutes in most cases. Please be sure to read the specific lender’s terms and conditions).

Disadvantages:

  • Cannot help you with long term financial obligations
  • Not the right solution for those with long term credit difficulties


What is the service offered by Cash Tonight

Cash Tonight is an independent marketing website which helps people looking for a lender and lenders looking for customers to come together. Our panel of lenders offers short term financing. We have partnerships with several of the leading payday lenders in the UK today.

Cash Tonight is not a payday loan lender but an online loan matching service. We are the bridge between consumers wanting payday loans and the payday lenders themselves. Our simple online application process is designed to match you with the best lender to suit your short-term money needs, right when you need it most.

Please note that Cash Tonight cannot and does not guarantee that your application will be accepted by any of our independent payday lenders. If a lender agrees to consider your application, you will be redirected from our website to that lender's website and your application will be subject to further consideration by that lender. The lender may decline to accept your application at that point. If your application is accepted, you will enter into a credit agreement with that lender.



Is Cash Tonight a payday lender?

No. Cash Tonight is not a lending or banking institution. We are an online loan matching service.

We provide a free online loan matching service that helps bridge the gap between you and a lender. If you meet the criteria and are approved by a lender then you are given the option of entering into a borrowing agreement with that specific lender. Please make sure you read the terms and conditions of the specific lender you are matched with. Please also make sure that you understand the repayment/interest fees of taking out a payday loan.



What is required in order to be matched with a payday lender?

All of the lenders Cash Tonight works with require that you satisfy the minimum requirements in order to be eligible a payday loan. They often have lower lending thresholds than traditional lenders and banks.

You must:

  • Have a bank account that accepts direct debit
  • Have a debit card
  • Be at least 18 years old
  • Be employed and receive a regular pay cheque or salary
  • Live in the UK

You will be asked for this information on our application form. If we manage to match you with a lender on our panel, we will transfer this information over to the lender you are matched with. Please note whether a lender ultimately accepts your application once we have passed them to you is at the discretion of the specific lender we match you with.



How long does the application process take?

Our application should take no more than a few minutes. We request only the information relevant to what the payday lenders require to approve your loan. Simply complete our application form now, and you will receive confirmation from one of our payday lenders within 30 minutes (typically) *.



Would a less than perfect credit history affect my chances of being approved by a lender?

A less than perfect credit history** will not necessarily prevent your application from being successful. However this is at the discretion of each lender. All loans are subject to credit approval. As a condition of extending credit, the lender you may be matched with may run a credit check with major credit reference agencies.

** The lenders we work with may perform traditional credit checks, while still accepting those with less-than-perfect credit. The lenders we work with verify applicant information via various national databases.



What form of payment is used to repay the payday loan?

Usually, the payday loan provider will take your payment directly from your bank account. Depending on the lender, this is generally done by direct debit. Please review the terms and conditions from the specific lender you are matched with.



What are the Implications of late payment?

Payday advances should be used for short-term financial needs only, not as a long-term financial solution. We always highly recommend that you try to pay all your outstanding loans/bills/debts on time as this will reflect a good payment record. The lenders that we work with have their own separate terms and conditions of late payment. We highly advise you to get into contact with the lender you are matched with if you anticipate that you will be late with your payment to set up other payment arrangements. Late payment charges may apply (depending on the lender). If you a planning on extending the loan, in most cases, the finance charge for the original loan must be paid on the original due date. Your loan principal will then be deferred until your following pay date along with an additional finance charge. However, we suggest you pay as much as possible on your original due date to reduce further charges. You must contact the lender immediately to set up payment arrangements. If your loan payment is rejected for any reason by your bank, the lender may initiate collection procedures and you will be prevented from receiving future loans from the lender until all of your payment obligations are met in full. Again, please make sure you carefully read the late payment options/penalty from the specific lender you are matched with.



What are the Implications of non-payment?

Payday advances should be used for short-term financial needs only, not as a long-term financial solution. We always highly recommend that you try to pay all your outstanding loans/bills/debts on time as this will reflect a good payment record. The implications of non-payment are at the discretion of each lender's terms and conditions. You must contact the lender immediately if you foresee an issue with paying your loan. If your loan payment is rejected for any reason by your bank, the lender may initiate collection procedures and you will be prevented from receiving future loans from the lender until all of your payment obligations are met in full. Again, please make sure you carefully read the late payment and non-payment options/penalty from the specific lender you are matched with.



What is the Code of practice/policy on responsible lending?

Our panel of lenders are all committed to responsible lending. Our lenders are committed to:

  • Offer short term loans focused to the borrowing needs of customers
  • Assess that customers can afford loans, and are able to repay them
  • Provide clear, transparent customer contracts and communications
  • Treat customers in a helpful, courteous manner and deliver high standards of service
  • Maintain high levels of customer satisfaction



What is the renewal policy?

Cash Tonight works with a variety of lenders who have their own separate and distinct renewal policies. Please make sure you read the terms and conditions of the specific lender you are matched with to fully understand their renewal policy. If you have any questions please contact the lender directly.



Who can I contact if I have questions or concerns?

Once you complete the Cash Tonight application and if you are matched with a lender, they will provide you with their contact details as well as further information regarding their loan terms. If you have questions about the application process, please visit our contact us page or chat with one of our live agents through our chat functionality on this site.

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