Lender in Focus 15.6: PayDay Express complaints and refunds

payday express complaints

payday express complaints

All businesses, no matter what sector they operate within, will always have to deal with customer complaints. For short term loan providers it is no different. There will always be Payday Express complaints.

Although the majority of Payday Express’ customers are happy with the service that they receive when taking out a loan with Payday Express, some feel that their experience with the lender has not been so positive. Because of this, they may feel that they need to make a complaint.

As with any business, there are some Payday Express complaints where the lender may be to blame for the negative customer experience. Payday Express deals with a large number of customers on a regular basis. Unfortunately, mistakes are sometimes made.

On other occasions, complaints can reflect the financial difficulties that some of Payday Express’ customers are facing.

As a responsible lender, Payday Express should address all of its customer complaints.

Payday Express complaints: How do you make one?

Payday Express says that it wants its customers to be completely satisfied with its products and services. It has a commitment to take on feedback and resolves complaints wherever possible.

A full copy of Payday Express’ complaints procedure is available on its website.

If you would like to make a complaint about your experience with Payday Express, you should first contact them directly.

The Payday Express Customer Service Team is available from 8 am to 7 pm on Monday to Friday, 9 am to 4 pm on Saturdays and 10 am to 4 pm on bank holidays (excluding Christmas Day, Boxing Day and New Year’s Day).

Their helpline number is: 0800 652 4661

If the Customer Service Team cannot resolve your issue, they can pass your concerns on to Payday Express’ Customer Relations Department for a full investigation.

You can also write to Payday Express to let them know about your complaint at The Customer Relations Department, Payday Express, PO Box 255, Bicester, Oxon OX26 4ZY

You are also able to email them at customer.relations@paydaycontact.co.uk

For security reasons, you should not include any additional personal information in your email messages. Payday Express will respond to your email via telephone or letter.

If you wish to make a complaint to Payday Express, you will need to provide them with your:

  • Full name
  • Address
  • Date of birth
  • Daytime telephone number
  • Loan agreement details

You should also include full details of your issue.

If Payday Express is unable to resolve your complaint within 5 working days, it will provide you with information regarding who is dealing with your complaint and when they will next contact you.

If your complaint has not been resolved within 8 weeks, Payday Express will send you a ‘Final Response’ letter, with a leaflet explaining your right to refer your complaint to the Financial Ombudsman Service.

You can also let the Consumer Finance Association know about your complaint regarding Payday Express.

If you are not satisfied with Payday Express’ response to your complaint, you can contact the Financial Ombudsman Service after 8 weeks.

Types of complaints about Payday Express

Negative loan reviews can give you a good idea of any issues Payday Express customers have faced in the past.

Payday Express has a rating of ‘Excellent’ on Trust Pilot and has a score of 9.3 out of 10, as of April 2017.

This shows that overall, the vast majority of customers are happy with their experience of Payday Express.

Some of the more negative reviews include complaints that:

  • Customers applied for a second loan but were denied it, despite having repaid their first loan
  • There was a delay after ID was requested.

Payday Express takes the time to reply to its customers on Trust Pilot, in order to apologise and explain why they may have had issues.

As a responsible lender, Payday Express conducts credit and affordability checks before approving anyone for a loan, even if they have taken out a loan with them before. Payday Express must carry out these checks in order to ensure that a customer is able to afford to repay their loan.

It may not be possible to approve someone for another loan. Usually, this is due to a change in circumstances.

Sometimes, you may need to send in additional documentation to support your loan application. This then needs to be checked by Payday Express. If there are a high level of documents received at any one time, this could mean that some customers could experience a delay.

These are some genuine 1-star reviews written by Payday Express customers:

“Had a loan with them paid early and when applied for a second one been denied. They don’t value the customers who pays the loan on time”

“Not used this company for about a year but find myself in need. I called after work when there was no responce on the loan to be told that they required ID.

I sent this over and called to make sure they had recieved it – to be told that it could take days to process the loan as there is a backlog and they are only just looking at the IDs from the 5th.

Nothing on the website to say this. No email to say this was the case and not apology for the delay and possible issues it may cause.

Very Poor”

“Not happy on this occasion. Normally excellent.”

Payday Express complaints data

Payday Express is a trading name of Instant Cash Loans Limited. Instant Cash Loans Limited also trades under other names, including The Money Shop, Payday UK and Robert Biggar.

Instant Cash Loans Limited published its complaints data from 1st July 2016 to 31st December 2016.

During this time frame, 9,361 complaints were opened and 11,530 were closed. 29% of complaints were upheld.

Payday Express refunds and compensation

If Payday Express considers your complaint to be valid, you may be offered a full or partial refund.

Customers who are not satisfied with Payday Express’ response, can take their complaint to the Financial Ombudsman Service.

If you choose to take your complaint to the Financial Ombudsman Service and it rules in your favour, you could be entitled to a full or partial refund.

The Financial Conduct Authority (FCA) can fine lenders who it finds have treated customers unfairly. In 2015, Dollar Financial UK (of which Payday Express is a subsidiary) entered into an agreement with the FCA to provide £15.4 million redresses to 147,000 customers for unfair practices.

If the Financial Ombudsman received a lot of Payday Express complaints, the FCA could withdraw Payday Express’ authorisation.

The vast majority of Payday Express’ reviews are extremely positive. With a score of 9.3 out of 10 on Trust Pilot as of April 2017, Payday Express is rated as ‘Excellent’. Many customers are happy with their short term loans and their experience of Payday Express.

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