CASH4UNOW offers flexible loans of £150 to £500 to be repaid over 3 to 6 months in line with your paydays. Its loans are designed as an alternative to traditional "payday" loans which require you to repay the money in one lump sum.
Launched in 2011, CASH4UNOW offers a flexible approach to short-term lending, with loans of £150 to £500 (or up to £1,000 for returning customers) to be repaid over 3 to 6 months.
When you apply for an instalment loan, CASH4UNOW will build a repayment schedule around your paydays. Spreading your payments over several months may make paying back your loan more manageable, but bear in mind that you will pay more in interest overall.
Please note: high-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Compare CASH4UNOW loans against services from a range of lenders
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As well as comparing short-term loans with other types of credit, before you apply for a loan, it’s a good idea to shop around and compare a range of lenders. You can use the table below to get an idea of how much the loan that you have in mind might cost.
How much do you need to borrow?
How long do you need to borrow for?
Important information: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
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Key features of a CASH4UNOW short-term loan:
Borrow up to £1,000. First time applicants are restricted to a loan of up to £500. If you repay the money in full and on time you could be eligible for a further loan of £1,000. Please remember that short-term loans are not suitable for sustained borrowing.
Repay over 3-6 months. CASH4UNOW offers an alternative to traditional “payday” loans which require you to pay back your loan in one lump sum. You can choose to repay your loan over 3-6 equal monthly or four-weekly instalments to match up with when you get paid.
Fixed, high interest rates. With interest charged at the maximum allowed by the Financial Conduct Authority for every day that you have your loan, this is realistically an expensive way to borrow money.
Missed repayment charges. If you miss a payment, CASH4UNOW will charge you a fee of £5. This will be added to your account the day after your payment date. CASH4UNOW can apply up to 3 late repayment charges. You will also be charged interest for the time that you are in arrears, for a maximum of 30 days (or 100% of the amount borrowed) after your missed payment. If you do not pay your loan for an extended period of time and do not contact CASH4UNOW to let them know you are in financial difficulties, you may be referred to an external debt collector.
Early repayment. CASH4UNOW will not charge you for repaying your loan early. This is recommended if you can afford to do so as you will pay less in interest overall.
Is high-cost, short-term borrowing a good idea?
Payday loans, and high-cost, short-term credit generally are a very expensive way to borrow, and should only be considered as a last resort. They may not solve your money problems, and are not a good idea for borrowing over longer periods, or sustained borrowing. Before you apply for a payday or short-term loan, make sure you’ve considered other options, and ask yourself if the expenditure that you’re planning is absolutely essential? Read more about alternatives to payday loans at moneyadviceservice.org.uk.
How does it work?
If you’ve decided that a CASH4UNOW loan is right for you, here’s how you get one:
Complete the simple online application form which will ask for your personal and employment details. If you need help filling out your form, you can call a CASH4UNOW advisor who will talk you through it.
You will receive an online “in principle” decision. CASH4UNOW will then carry out an employment verification check and affordability assessment.
If approved, the money will be paid into your bank account via faster payments. Your money will usually be paid into your account by 6pm on the same day.
How do I pay back my loan?
Like most short-term loan providers, CASH4UNOW uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account on your chosen dates.
What is a Continuous Payment Authority (CPA)?
A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis.
CPA’s differ from direct debits because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday loan companies will use CPA’s to collect your repayments, however you can cancel this at any point by either consulting with your provider or your bank.
What are the eligibility requirements?
You should only apply for a CASH4UNOW loan if you are certain you can meet the repayment terms. You must also:
Be aged between 18 and 65
Live in the UK
Have a UK bank account with associated debit card
Receive your salary into your bank account on a regular basis
Have a take home pay of at least £600 per month
Have a valid contact number and active email address
Be able to afford your repayments on the agreed dates
Did you know?
In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.
They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.
A CASH4UNOW advisor may call your employer to verify that you work there. They will not disclose anything about your loan application or say they are calling from a lending company. If it is not possible to validate your employment this way, you may be asked to provide a bank statement or current wage slip. If you do not give CASH4UNOW permission to contact your employer, your application will be refused.
If you have a poor or variable credit history you may not be accepted for a loan. Each application is assessed individually and CASH4UNOW will consider your personal circumstances. You can help to improve your chances of being accepted for a loan by ensuring the information you provide on your application is truthful and accurate.
Yes, you will be kept updated throughout the application process by email. An advisor may call you to talk through the online agreement.
CASH4UNOW aims to assess your application quickly and thoroughly without the need for you to send in additional documentation. However, it may occasionally need to verify some of the information you provide. If this is the case, an advisor will contact you on the number you provided.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
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