Lender in Focus 1.7: SafetyNet Credit Cash Lady Review

SafetyNet Credit Cash Lady Review

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SafetyNet Credit Cash Lady Review

To round up our in-depth look at SafetyNet Credit, we will now look at the SafetyNet Credit Cash Lady Review. This is where we provide our own thoughts and feelings on what we’ve found.

An innovative short-term credit provider

SafetyNet Credit remains one of the most innovative short-term credit providers in the UK with a sophisticated tech-focus and customer driven methodologies.

Customers can use the platform in a variety of ways and access funds quickly and electronically through the website or their App.

They also offer dedicated customer service through their call centre 6 days a week, Monday – Saturday, ideal if you need to speak with somebody for help/ advice.

Awards and accolades

SafetyNet Credit won an award in 2016 for treating customers fairly, so you should receive a high standard of customer support when you need it.

They also won ‘Alternative Lender of the Year’ in 2015. Which indicates that they have a consistent and rigorous approach to achieving high standards across the business.

A comprehensive and unique service

The automated option to deposit funds when your bank balance drops below a certain threshold means you should be able to avoid unnecessary bank charges. These are often levied at customers who go overdrawn, even by a few pennies.

Beyond the ability to negate unauthorised overdraft fees from the banks, they offer a very comprehensive and unique service which delivers a range of unique benefits

As far as the representative APR is concerned, SafetyNet Credit’s advertised rate of 68.7% is one of the most competitive rates in the industry, where most lenders are still advertising APR’s of more than 1000%.

They are still bound by the FCA price caps which means the rate of daily interest is still capped at 0.8% per day.

Making repayments

As far as paying back money borrowed, because SafetyNet Credit have a view of your bank activity and financial status, it does provide a degree of comfort knowing that they won’t take payment if you cannot afford it and you are at the limit of your bank balance/ overdraft.

It does mean of course that they can recover money once it is available, so take that into consideration when planning ahead.

Consistent high praise

One of the most impressive aspects of SafetyNet Credit is the level of consistently high praise through existing customers.

Over 3500 customers have rated the company through Trustpilot in the last 12 months with an average 9.2 rating (out of 10) which is one of the highest satisfaction rates in the industry.

In today’s marketplace, platforms such as Trustpilot or Reviews.co.uk (who Cash Lady use) give potential customers an opportunity to learn more about the way a loan provider operates and treats its customers – which is highly important for most people.

Financial Conduct Authority authorisation

As you would expect, they are fully regulated and authorised by the Financial Conduct Authority.

At CashLady we have worked with SafetyNet credit for a long time and have a great relationship with the business.

They are very much a forward thinking lender who are always looking at new ways to serve the market and their loyal, happy customer base.

As with all short term loan providers sitting on our panel, we undertake extensive due diligence on the business to ensure they have the right policies and processes in place to look treat customers fairly and place their needs at the heart of the business.

Money management insights

If you are looking for affordable short term finance which is accessible 24/7 SafetyNet Credit could be one of your best options.

Not only will their online application give you the opportunity to draw down (or deposit) funds, it will also give you some useful insights into your money management and financial position with clear graphics and charts.

A valuable service trusted by many

For some people, creating and an account where you provide bank details and view only access to your bank activity can seem unnatural and perhaps uncomfortable.

But you only have to read the many happy reviews to see just how valuable their service is for people who have trusted them over the years.

Thanks, for reading this series. How did you find it? Please share using the buttons below and keep an eye out for our next Lender in Focus series.