This company operates in the UK only, therefore you have to be a resident within the UK to use the services of Wonga, additionally you must be at least 18 years old and have a UK bank account with a debit card. It should also be noted, that usually you are required to receive a regular pay in order to be accepted for a payday loan.
Wonga payday loans
The max first time loan amount is quite good compared to other organisations; Wonga’s maximum is around £400 – £450. After this, the maximum is £1000 and their finance charge is 1% a day, which would help ease the situation a bit, however Wonga’s representative APR is roughly 4214%. Wonga is a company with a good reputation, they regularly feature on television advertisements and on billboards across the country, therefore they are not an elusive company, many people use them for their services simply based on their respected reputation. The company operates on an online basis, therefore it’s quite easy to secure you loan, there is no need for a credit check and they guarantee that it will take at least 15 minutes for the payment to be provided within your bank account.
Instant loans with instant payment
Wonga has an honest reputation, on their website, when applying for a loan they will tell you how much the loan is going to cost you overall, therefore you can see that there will be no hidden charges and you will be aware of how much expenditure will be required in order to pay off the loan. If you pay your loan on time, you will surely save a lot of hassle, as of course, if you don’t pay on time you could incur high penalties.
On balance, with the reputation that Wonga has along with the easy layout of their website; they offer a good service which is not complex at all for users to work through, furthermore they are totally honest up front.