Pounds to Pocket are a provider of short to medium term cash loans. You may find that you need a short or medium-term unsecured loan of up to £2000, in which case Pounds to Pocket may be able to help.
At CashLady, we want to help you understand all aspects of financial lending, not just small loans. Today we’re continuing our series on Pounds to Pocket, so we can help you understand everything you may need to know if you’re considering taking out a loan with them. In this blog post, we’ll be looking at the advantages of taking out a loan with Pounds to Pocket.
Know how much a loan will cost upfront
Pounds to Pocket pride themselves on being an upfront lender. When you take out a loan with them, you’ll know exactly how much you will need to repay.
If you’re not sure yet how much you need to borrow, or how long you want to repay it for, Pounds to Pocket have a LoanBuilder. By using the LoanBuilder, you can see exactly what the cost will be if you take out a loan with Pounds to Pocket.
With Pounds to Pocket, you take out a loan of between £200 and £2000 pounds, over a period of between 6 and 12 months. The monthly interest rate changes depending on how long the repayment term is, with the interest rate being higher the shorter the repayment period.
If you use the LoanBuilder to plan out your loan before taking one out with Pounds to Pocket, you’ll know exactly how much the loan will cost in total – before any late fees that may accumulate. This gives you a good idea of how to manage your money over time.
Pounds to Pocket advantages: A regulated lender
Pounds to Pocket is a lender that is regulated by the Financial Conduct Authority (FCA). As such, they follow all the UK lending rules and regulations, so you can be sure that you are borrowing from an authorised lender and not a shady company that will levy you with unnecessary costs or hidden fees.
As a regulated and registered lender, Pounds to Pocket run credit checks on all applicants. This is in order to make sure that anyone that Pounds to Pocket lend to is able to repay they loan, and that Pounds to Pocket are not trapping anyone in a cycle of debt. You should only be able to take out a loan if you can truly afford to repay it so that you’re not left in a worse off financial position.
Pounds to Pocket advantages: No hidden fees
As a responsible lender, Pounds to Pocket ensure that there are no hidden fees when you take out a loan with them. Pounds to Pocket do charge late fees, but they are very upfront about this and you will know upfront whether or not they have charged you.
The only thing to be aware of is that your bank may charge you a fee if Pounds to Pocket are unable to take out your payment. This can result in a bounced payment charge, but this is levied by the bank, rather than Pounds to Pocket.
Pounds to Pocket advantages: Get your money quickly
If you take out a loan with Pounds to Pocket, you can receive your money very quickly after successfully filling out your application form.
You can apply for a loan with Pounds to Pocket anywhere, from any device. Their mobile-friendly site is very easy to navigate, even on a smaller phone.
Once you’ve successfully completed your application, it usually takes Pounds to Pocket up to 30 minutes to make a decision about your loan application. However, once this is done, the money can be in your bank account within 10 minutes – as long as your bank accepts Faster Payments.
If your bank does not support Faster Payments, the money can still be in your bank account on the same day as long as you are approved before 14:30 that day.
Top Up your loan
Pounds to Pocket offer a unique service for their loans, called Top-Up. This allows you to borrow more money on top of the loan that you have already taken out. This is used in a situation where you already have a loan with Pounds to Pocket, but you have an emergency that requires you to borrow more money.
In normal circumstances, you wouldn’t be able to take out another new loan with Pounds to Pocket. You can, however, use their Top-Up feature to give yourself a bit more cash in order to cover the emergency. The amount that you can Top-Up depends on the amount you have borrowed and the repayment term.
Pounds to Pocket have run a customer satisfaction survey, where they asked their customers what they think of using Pounds to Pocket. This survey was done in 2013, and Pounds to Pocket surveyed 159 Pounds to Pocket customers. This was only a small snapshot of the thousands of customers that Pounds to Pocket have had.
As a result of the survey, Pounds to Pocket found that 9 in 10 of their customers would be likely to recommend Pounds to Pocket to a friend, relative or colleague. 93 percent of those surveyed were also satisfied with the service that they received.
All of these people can’t be wrong. By taking out a loan with Pounds to Pocket, you know that you’re going to be in good hands and have good customer service, should you need it.
If you’re looking for a short to medium term loan, Pounds to Pocket has many advantages. However, as with all financial situations, it’s important to make sure that you have selected the right lender before you enter into a financial agreement.
If you’re unsure whether to take out a loan with Pounds to Pocket, let us know what you’re unsure about in a comment below, or drop us a line on Facebook or Twitter. Remember that if you’re stuck in a financial emergency, you can always apply to get a loan with Cash Lady – we’re here to help you.