Who Offers Instant Payday Loans in Minutes?

Q: Who offers instant payday loans in minutes? ~ Lee, Bradford.

A range of online lenders promote offering instant payday loans in minutes, but there are only a small handful that can do this effectively. If you are applying for a loan for the first time then there may be some expected delays, but once you are signed up to a service then you should be able to receive funding at a much quicker rate. The main areas that helps to distinguish the quickest loan providers surrounds operational times and technology. We are aware of 2 such lenders that shine in these areas including MyJar and Wonga. If we begin with the UK’s most well known lending brand, Wonga’s customer service team operates 24/7 (update: times are now cut back to 7/7).

Their technology has been developed to automate lending decisions without the need to underwrite. If an application is pulled up then there is at least staff who can be quickly reached 7/7. They offer flexible short terms and so there is no need to pay for a full month with them. Moving on to MyJar, for many years they had a fixed repayment in place, but they have now adapted to offer a highly flexible set of repayments between 1 and 90 days. The customer advisors here are live 7 days a week, but they do close throughout the night. You can view their referenced profile for the exact times.

Once you have signed up with MyJar and borrowed from them you will be pre-approved for more funds. Simply login to your account and hit the switch or send a text and an instant loan will wing its way to you. Both of these noted lenders use the same Faster Payments Service system and so the funds once issued should arrive in your bank account within minutes up to a few hours time. For instant payday loans in minutes, these firms come highly recommended. It helps that each offers lots of variety when it comes to picking out a repayment date of choice and they each have a good industry track record.

Just going back to the Faster Payments Service (FPS), these transfers typically take between 15 minutes and a few hours (including weekends). The processing times often depends on who you are banking with. Due to the EU ruling, every online payment will have to at least be completed by the next day and so you shouldn’t be waiting around for too long. Not many firms issue CHAPS payments these days since these are very expensive, whilst FPS transfers aren’t (businesses have to pay small fees close to £5). You can of course always use high street lending companies (Speedy Cash, The Money Shop etc) for quick cash in your hand.