Lender in Focus 15.1: PayDay Express overview and history

payday express

payday express

Payday Express offers its customers short term loans that are both simple and flexible. CashLady investigates the history of Payday Express and the services that they provide.

Before taking a loan out with any lender, it is important to do a little research about the company you are thinking of borrowing money from.

Payday Express provides short term loans that customers can opt to pay back over 1 to 12 instalments. Loans that can be paid back in 2 or more instalments are known as instalment loans.

Payday loans are traditionally known as loans that are repaid in only 1 instalment.

Payday Express offers the more traditional payday loan with 1 repayment, as well as instalment loans.

With Payday Express, your repayments will be taken on pre-agreed repayment dates via Continuous Payment Authority (CPA).

If you choose to take out a loan with Payday Express, you can apply to borrow between £100 and £2,000.

Not all loan amounts come with the choice of paying them back in 1 to 12 instalments.

If you opt to borrow £100, for example, you will only have the option of paying this back in 1 to 6 instalments.

Lender in Focus 15.1: PayDay Express  overview and history

The loan amount and term you will be able to get will depend on credit and affordability checks.

You can see how much you can apply to borrow over different loan terms by going to the Payday Express website and using its loan calculator.

Customers can apply for a loan online, by selecting the amount they wish to borrow and the number of repayments they would like to make.

When choosing how many instalments you would like to pay your loan back in, it is important to select the option that is most affordable for you.

You will then need to fill out an application form. Before Payday Express decides whether or not to approve your loan application, credit and affordability checks will be carried out.

If you are approved for a loan with Payday Express, you will be presented with your available offers, based on these checks. You can then decide which loan duration is most suited to your financial needs.

Payday Express say that it will tell you if you have been approved for a loan as quickly as possible.

If approved, you could have the money in your account on the same day as your application. Whether this is possible or not depends on whether your bank accepts Faster Payments. Some banks take up to 3 working days to clear funds.

Lender in Focus 15.1: PayDay Express  overview and history

Also, Payday Express may need to request additional documentation from you to support your loan application. This could delay your application.

How much interest you will be charged on your loan depends on your loan term. Rates range from 0.36% to 0.8% per day. This means that you will pay between 36p and 80p per day, per £100 borrowed.

As a result, the longer the term of your loan, the more expensive it could be.

You can also opt to repay your loan early. If you do repay your loan early, you could pay less money in interest. This is because interest is charged by the day and you are only charged interest for the amount of days that you have had your loan for.

If you are approved for a loan with Payday express, you will be sent pre-contractual documents which contain important information about your loan. You should make sure you read these carefully.

Before taking out any loan, you must be sure that you can comfortably afford to make the repayments.

Eligibility Criteria to apply for a Payday Express loan

To apply for a loan with Payday Express, you need to:

  • Be over 18 years old
  • Be in permanent employment
  • Receive more than £417 net per month
  • Have a bank account with a valid debit card
  • Meet Payday Express’ credit criteria and affordability assessment.

Company information

Payday Express is a trading name of Instant Cash Loans Limited.

Instant Cash Loans Limited is a subsidiary of Dollar Financial UK.

Instant Cash Loans Limited also trades as other loan providers, such as The Money Shop and Payday UK.

Payday Express has been operating since 1999.

Their registered address is: 6 Bevis Marks, London, EC3A 7BA

Payday Express’ correspondence address is Payday Express, PO Box 255, Bicester, Oxfordshire OX26 4ZY.

Telephone number: 0800 652 4661

Fax number: 0800 652 4662

Email: info@paydayexpress.co.uk

Website address: www.paydayexpress.co.uk

Lender in Focus 15.1: PayDay Express  overview and history

Payday Express’ customer services are open from 8 am to 7 pm, Monday to Friday, 9 am to 4 pm on Saturdays and 10 am to 4 pm on bank holidays.

They are closed on Sundays, Christmas Day, Boxing Day and New Year’s Day.

Financial Conduct Authority registration

Payday Express is a trading name of Instant Cash Loans Limited who is authorised and regulated by the Financial Conduct Authority, for credit related activities under registration number 681750.

Authorisation can be checked on the Financial Service Register at http://www.fca.org.uk/register.

Membership of other professional bodies

Payday Express is also a member of the Consumer Finance Association and cifas.

Data Protection

Payday Express says that it has put in place a number of measures to ensure that your personal data is processed and maintained in accordance with the Data Protection Act 1998.

More information regarding the Payday Express privacy policy can be found on its website.

Right to cancel your loan agreement

Lender in Focus 15.1: PayDay Express  overview and history

Under the Consumer Credit Act, borrowers have the legal right to withdraw from their loan agreement within 14 days of signing a loan contract.

If you would like to withdraw from your loan agreement with Payday Express, you must return any money that you have received, together with any accrued interest. If you decide that you would like to withdraw from your loan agreement, you should contact Payday Express as soon as possible.

Credit checks

As a responsible lender, Payday Express carries out credit checks and affordability assessments on all of its customers.

Payday Express says that it will look at each application based on the applicant’s recent circumstances.

If you are worried about your credit report, you can review your credit file with credit reference agencies such as Experian or Callcredit.

Promotional activities

Does Payday Express have a television advert?

CashLady could not find any Payday Express TV adverts.

Do they advertise on Google?

No, Payday Express does not have a Google ad.

Does Payday Express charge fees?

Payday Express does not charge fees and has no hidden costs.

How much your loan will cost you depends on the amount that you borrow and the period of time that you would like to repay your loan over.

Payday Express charges interest at a daily rate.

Has Payday Express ever been fined?

Back in 2015, Dollar Financial UK, trading as Payday Express, The Money Shop, Payday UK and Ladder Loans, entered into an agreement with the Financial Conduct Authority (FCA), to provide £15.4 million redresses to 147,000 customers. This was because some customers suffered detriment due to Dollar Financial UK’s affordability checks, debt collection practices and system errors.

This meant that some Payday Express customers received cash refunds and balance write-downs.

Dollar Financial UK discovered these issues when it was undertaking a review of its procedures for issuing loan agreements, following the introduction of new rules, that had just come into force governing consumer credit. Some customers were lent more money than they could afford. This was rectified by the ‘unaffordable’ portion of their loan being made interest free.

As part of this review, Dollar Financial UK identified a problem with its administration system, which meant that some customers between 1st January 2013 and 1st April 2015, may have been charged additional default fees and interest on those fees in error.

Dollar Financial UK found a problem and then worked towards rectifying it.

Instant Cash Loans Limited (trading as Payday Express) is authorised and regulated by the FCA. Any customers who have problems with Payday Express in the future are able to take their complaint to the Financial Ombudsman Service if their complaint is not resolved by Payday Express within 8 weeks.

Social Media


When CashLady checked in April 2017, Payday Express had 4,533 followers on Facebook and 4,839 likes.

Payday Express does not seem to be particularly active on Facebook, with its last post dated 20 September 2013.


Payday Express joined Twitter in February 2012. Since then, it has tweeted 3,392 times and has 2,985 followers.

Although Payday Express seems more active on Twitter than it is on Facebook, the most recent Tweets are answering customer queries. These are dated August 2016.

Prior to this, their last Tweet was July 2013.


Cashlady could not find an Instagram account for Payday Express.

Do they have an App?

CashLady could not locate a mobile App for Payday Express.

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