What sort of loans are available?
Anyone applying for a loan can borrow between £300 and £1,500.
How soon does it have to be repaid?
You have the option to repay the loan within 3-6 months.
What sort of interest is added to the loan?
QuidMarket’s representative APR is 1299.6%, with a daily interest rate of 0.80%. (292% p.a)
Based on this, if you were to borrow £300 for 3 months you would repay three equal instalments of £154.38 - total repayable £454.38.
Are there any late payment fees?
QuidMarket state there are no late payment fees charged to their customers.
How soon will they transfer the money?
QuidMarket use the Faster Payments System (FPS) which means funds should be available in your bank account only minutes after being transferred the same day. They also say it can take up to 2 hours to clear, depending on the bank.
How do you apply for a QuidMarket loan?
Before providing the company with any details they ask you to ensure you are:
- Aged between 23-65 years
- Currently in part or full-time work
- Receiving a monthly salary of at least £1,300
- The owner of a UK bank account and linked debit card
- Living in the UK
Once the online application form has been completed, standard credit checks will be performed to gain a clearer understanding of your suitability for the loan. QuidMarket say that additional documentation may be required to confirm your ID and address history, as well as income and expenditure details.
Can you repay a QuidMarket loan early?
Quidmarket customers have the option to repay their loan early without having to pay additional admin or settlement fees. Simply get in touch with the customer service team to find out more (details below).
How can I contact QuidMarket’s customer service team?
Call QuidMarket’s customer service team on 0115 845 6434, Monday to Friday 8:30am to 4:30pm and Saturdays between 10am and 2pm. The QuidMarket customer service team are not open on Sundays.
Alternatively use their email address help@quidmarket.com.
Do QuidMarket provide an online account?
Yes, once your loan has been agreed you will be provided with log-in details for an online account.
Are QuidMarket on social media?
X: @QuidMarket
Facebook: Homepage
Are there any QuidMarket customer reviews online?
On Trustpilot, Quidmarket have accrued an ‘Excellent’ rating (as of November 2023) of 4.8/5 based on 4,185 reviews.
Are QuidMarket authorised and regulated by the Financial Conduct Authority (FCA)?
Quidmarket is the trading name for Stagemount Ltd, who have been authorised and regulated by the FCA since 9/2/16. See full details on the FCA register page.
QuidMarket summary
QuidMarket are a direct lender aimed at helping people in employment needing short-term financial assistance.
New and existing customers can apply for loans between £300 and £1,500. Repayment terms for first-time applicants is 3-6 months, while returning customers can repay across 3-6 months, depending on how their previous loan was managed. QuidMarket’s representative APR is 1299.6%, with a daily interest rate of 0.80%.
No late payment fees are applicable and the loan can be repaid early without any additional costs.
In order to be eligible for a QuidMarket loan you must be:
- 23-65-years-old
- Working part or full-time
- Receiving an income of £1,300 each month
- The owner of a UK bank account and connected debit card
- Currently living in the UK
Customer reviews on Trustpilot show a rating of 4.8/5 over 4,185 independent reviews.