QuickQuid as the name suggest, is a firm which is involved in providing Payday Loans to the public. The criteria for getting the loan is pretty standard and does not harm your credit score in any way. Moreover, they do offer personalised eligibility score.
Their platform clearly highlights the fact that, it is a short term loan service and is definitely not suitable for long term borrowings. This firm is regulated by FCA and has a client base of over 1.4 million customers. To have a clear idea of what you are dealing with and have an idea about all the features offered by them, continue reading our full review.
QuickQuid Payday Loans
Whenever a firm provides financial services to the general public, they are obligated to hold certain licenses. From a consumer’s perspective, dealing with regulated companies ensures peace of mind, as transparency will always be present.
QuickQuid is the trading name of CashEuroNet UK, LLC. This company is authorized and regulated by the Financial Conduct Authority. Their support team is excellent and has resolved thousands of requests till date. Below is a run down about the information regarding their contact details and registration.
Head Office: Fergusson House, 124 – 128 City Road, London, EC1V 2NJ. Mailing Address: QuickQuid PO Box 74347, London, EC1P 1YZ United Kingdom.
How to Get a Loan From QuickQuid?
The way this service works is very typical. Candidates have to fill the application and provide them with the necessary documents. Submitting a request will not affect your credit score. However, if you miss the payments, it will definitely reflect on your scores.
Once the application is submitted, it will take anywhere from 10 minutes to 30 minutes for the firm to analyze. After making a decision, they will update you on the results. Depending upon your current scores, you will get up to £1,000, if you are a new client.
For the returning customers the maximum loan is extended all the way up to £1,500. You can repay the loan within 3 terms. The APR is at 1294.1%, this kind of interest rate makes it ideal for short term borrowings.
If you require long term loans, then these kind of conditions are certainly not favorable. Here is an example of the APR calculation to give you a better understanding.
Example – Amount of credit: £300 for 65 days with one repayment of £78.00 and one repayment of £378.00. Interest: £156.00. Interest rate: 292% PA (fixed).
When applying for a loan, you will need to have a salary slip or employment details. You must hold an active bank account in the UK, and should be a resident of the same country.
Lastly, you will need to have a valid debit card. If you happen to have all these documents, then without any hassles you will get your loan approved.
Regardless of what kind of firm you are dealing with, occasionally the problems will arise. If you have any complaints about this firm, then try to contact them by sending an email to [email protected] or by giving a call to 0800 016 3114.
Just in case, if you are unhappy with the response, then you can reach the Financial Ombudsman service. Here are the necessary information for contacting them.
Address: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR United Kingdom. Telephone: 0300 123 9 123
Email: [email protected]
QuickQuid Review Conclusion
QuickQuid has got a lot of harsh comments on TrustPilot, but it also has positive testimonials on various other forums. So, it kind of creates a confusion. Regardless of the opinions out there, know that this firm is legitimate and can provide you with funds whenever you need them.
There is no fees on early payment, but if you are behind on payments, you will have to pay £15 fees. If you have tried them out personally, then leave a comment below and share your opinion.