A great alternative to 24 hour payday loans
Looking for a 24 hour payday loan in the UK? Check out our smart alternative to payday lending – cash available in 15 minutes if approved.
for up to 40 days (292% per annum, variable)
24 hour payday loans
The world of consumer lending can be a confusing place, with seemingly endless choices on offer. To help give a little guidance to people who may be new to the world of lending and searching around for the right loan for them, we have created some guidance on 24 hour payday loans. This is to help you make an informed decision with some background information on the topic, as well as a chance to read about how SafetyNet Credit’s own services could be suitable for you.
So what exactly is a 24 hour payday loan? The phrase is quite general and could refer to one of two related things. On the one hand, it could mean a payday loan service which you can apply for at any time of the day. On the other hand it could refer to a loan where you receive your loan money within 24 hours of being approved. It’s hard to know without doing a bit of research exactly which of these a lender might mean when they advertise 24 hour loans, or whether they might mean both. This is why it is always important to look into precisely what is on offer when you are deciding to take out a loan. The main thing to remember is that when talking about a 24 hour loan, most lenders will be talking about how convenient and accessible their services are.
A payday loan meanwhile is a common type of small, short term loan. They are expected to be paid off a short time after being borrowed, most often when you receive your next wages. As such their intended use is for sudden emergency expenses which your normal budget cannot immediately cover.
Why might I need a 24 hour loan?
There are any number of situations in which someone may find themselves in need of a 24 hour payday loan. The key thing to remember is that short term loans of this kind should be reserved for assisting with essential and unexpected costs. Maybe the car you need for getting to work or for the school run has broken down. A vital part may need replacing before it can get back on the road, but it could cost a few hundred pounds which you just don’t have to spare at the moment. Or instead of vehicle repairs, it could be a problem with something in your house. Perhaps an appliance like an oven or washing machine has finally given out and has to be replaced, or maybe a window has broken or part of your fence has fallen in after a storm and needs fixing.
As mentioned previously, one of the main attractions of a 24 hour payday loan is the convenience. When you find yourself in one of the above situations, you may not want to have to go through the effort of finding a brick and mortar loan shop nearby, taking the time to go in for a meeting and so on. In today’s world with advancing technology there is the expectation that things should be quick and easy, and everything is also increasingly expected to be open and available 24 hours a day, 7 days a week. It’s no surprise then that the same is now expected of financial products.
24 hour loans UK
As with anything to do with money, however, it is important not to rush into things when it comes to loans. No matter how urgent a problem in your budget seems there will always be more time than you realise to research the different options available to you. Just because something seems convenient and easily available does not mean it should be your first choice. There are many other cheaper solutions than 24 hour payday loans which you should always explore first, if they are available to you. These might include borrowing from friends or family, or possibly borrowing with a credit card and paying back during an interest free period.
Another thing to consider is whether the expense in question is really as urgent as you think. Does it really warrant taking out a payday loan within 24 hours, or could it wait until your next payslip comes through? In the UK there can be serious consequences for failing to keep up with agreed loan repayments. Your credit rating could be significantly harmed for instance. You should therefore only borrow money if you have a plan for repaying not just the initial amount borrowed, but also the overall cost of the loan when things like interest and charges are taken into account.
24 hour loan alternative with SafetyNet Credit
At SafetyNet Credit we offer an alternative to the usual 24 hour payday loan lenders. We do not offer payday loans, but instead provide something known as a revolving credit facility. As a new customer, if your application is approved, you will be granted access to a credit limit between £100 and £500 (£1,000 for sustainable customers), based on what you can afford. If you switch on our auto-deposits feature this credit limit can work much like an overdraft. It acts as a safety net to protect you from some unplanned borrowing fees from your bank, by activating an automatic transfer of credit when we see you are close to ending up in the red. You can also make manual transfers when you really need an extra bit of money, perhaps for one of the scenarios mentioned above.
Our credit services are available 24 hours a day, 7 days a week. You can apply online at any time, and once approved it should take no more than 24 hours for your account to be set up and ready to go. Credit transfers should be completed within 15 minutes, though occasionally there may be problems with systems at certain banks which can delay a transfer, so it’s best to wait up to 2 hours for a transfer to complete.
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What our customers are saying
Don’t just take our word for it
Just started using this company a week ago..no issues..a good help when you need a payday loan
Brilliant service fast and reliable and very quick
Really good fast an reliable I recommend this to anyone.
Very good service
Rapid application and transfer