Full Pocket Loans Info (Closed)

Sometimes you see new lenders pop up and soon disappear overnight without a trace. Whilst there are many fly-by-night operations, it is a shame to see closures of services that have been crafted well, that have likely had a lot of time and investment poured into them. This was certainly the case with the Full Pocket loans brand that was active at www.fullpocket.co.uk. They launched in June 2013 and it is unclear when they bowed out. This was likely around the time that the FCA ruling went ahead. On this page we will just be running through some of the product specs that were in place during their limited time of operation.

On introduction to this company the applicant could apply for small sums between £100 and £200. Once cash had been borrowed they could return and access as much as £700. Flexible repayments could be selected that spanned between 7 and 30 days. The total cost was set just a little over 1% per day. If you chose to go with a £100 weekly loan then you would pay £7.35 whilst for a complete month you would need to pay £31.50. There was no extra fee imposed for their fast payouts. One limitation was that they only processed applications between Monday and Friday from 9am to 8pm (no weekends).

Secure user logins were attached to www.fullpocket.co.uk that was designed well. Soon after the Full Pocket loans became available they took on a member place with the popular BCCA trade association. Many firms that took the decision to cease trading recently did so on the required 0.8% daily cap. Whether this is the case here is unclear. I do think that they may have simply struggled to compete in this competitive space. I couldn’t recall seeing any advertisements for them and there was no sign of feedback on consumer review websites and so they may not have simply had the user base or the budget to compete with the majors.