Moneyboat short term loans review

Life isn't all plain sailing. If you've hit unexpected short term financial difficulty, Moneyboat could help you stay afloat with a loan of £200 to £1,500 to be repaid in up to 6 months. But is it worth a punt?

No reviews yet. Write a review

Leave a review

Your review

Read Terms and Conditions here

Part of Evergreen Finance London Ltd, Moneyboat is a provider of straightforward and transparent short term “payday” loans. It offers a discreet, personal service and will not share your details with other companies or contact your employer. Its online application process allows you to avoid time-consuming paperwork, and if approved, you can expect the money in your bank account in as little as 15 minutes.

In this guide, you’ll find some key things you need to know about borrowing from Moneyboat. Expect nautical puns aplenty.

Warning: Late repayment can cause you serious money problems. For help, go to

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.

Calculate the cost of a Moneyboat loan

Table: promoted deals, sorted by total payable
How much do you need to borrow?

How long do you need to borrow for?

1 - 1 of 1
Name Product Available Amounts Monthly repayment Total payable Link
Moneyboat Short Term Loan
£200 to £1,500
Go to site
View details
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

We compare payday/short term loans from

Drafty Line of Credit
QuidMarket Short Term Loan
The Money Platform Short Term Loan
Moneyboat Short Term Loan
Lending Stream Instalment Loan

Key features of a Moneyboat loan

Product NameMoneyboat Short Term Loan
Available Amounts£200 to £1,500
Representative APR939.5%
New customer maximum£800
Loan terms1 month to 6 months
Soft search eligibility checkcross
Employer contacted during applicationcross
Funding speedMoneyboat says that approval can take place the same day, and following approval, cash is transferred directly to your account.
Repayment period optionsMonthly,Weekly
Default repayment methodContinuous payment authority
Additional repayment methodsOnline payment
Repay early at any pointtick
Parent companyEvergreen Finance London Limited
FCA registration number674154

How does a Moneyboat loan work?

  1. Choose how much you want to borrow and the length of term you wish to pay it back in. New customers can borrow from £200 to £800 while existing customers can borrow up to £1,500.
  2. Complete the simple application form with your contact information and your monthly outgoings, employment, payday and bank details.
  3. Wait while Moneyboat conducts a credit and affordability check to decide if you are suitable for a short term loan.
  4. Review your loan documents from Moneyboat via email if approved, and you can sign using an e-signature.
  5. Receive the money in your bank account within 15 minutes.

How do I pay back my loan?

Like most short term loan providers, Moneyboat 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 where you allow a company to withdraw money from your account regularly. CPAs differ from direct debits because they give the company being paid the ability to withdraw money from your account whenever it wishes and to take payments of different amounts without consulting you. Most “payday” loan companies use CPAs to collect your repayments. However, you can cancel this at any point by either contacting your provider or bank.

Pros and cons of Moneyboat short term loans


  • Fast access to funds. Moneyboat says that approval can happen the same day with cash transferred directly to you.
  • Flexibility. Moneyboat allows you to repay your loan early at any point, which can help you reduce your overall interest.
  • Loans are unsecured. You won’t need collateral to obtain a loan.


  • High interest rates. Like any short term loans, Moneyboat’s loans have a pretty hefty interest rate. Make sure you exhaust other options before turning to a short term loan.
  • Can negatively impact credit score. Payday loans can appear on your credit score as an advance against wages, which can be viewed negatively.
  • You may not get accepted. If you have serious debt problems, such as a County Court Judgment or bankruptcy, your application might be rejected.

What are the eligibility requirements?

You should only apply for a Moneyboat loan if you are certain you can meet the repayment terms. You must also meet the following criteria:

Minimum age18
Min. income£1,000 per month
Additional eligibility notesYou must be in full or part-time employment.
You must have a UK bank account and debit card.
Applications from students will be declined.

Changing your loan: Additional borrowing options and early repayment

Moneyboat does not offer “top-ups” or multiple concurrent loans. However, if your circumstances change during the loan, Moneyboat states it is happy to discuss ways it can help. Should an alternative repayment plan be required, it works to help you achieve this.

Once you have paid off the balance on your existing loan, you may be eligible to apply for a second loan. Just bear in mind that short term loans are not suitable as a long-term solution to debt problems.

Option to change repayment datetick
Repay early at any pointtick
Repaying early can reduce overall interesttick
Interest is only applied to days where funds are outstandingtick
Multiple loans allowed at the same timecross
Option to extend loan termtick
Phone number0203 818 7470

If you’re going to use a short term loan, always check that the lender is authorised by the Financial Conduct Authority (FCA), as Moneyboat is. You can check on the FCA register if you’re not sure. This shows you which companies are involved in regulated activities.”

Rachel Wait, financial journalist

Are payday/short term loans a sensible choice?

Payday/high-cost short-term loans from companies such as Moneyboat are a quick solution to an immediate expense. Realistically, they’re a very expensive method of borrowing that should only be considered as a last resort. These loans are unlikely to solve your money problems in the long term and are not suitable for borrowing over longer periods or for people experiencing serious debt problems.

Before you apply for a short term or “payday” loan, make sure you’ve considered other options carefully. Is the expenditure you’re planning absolutely essential? Could you ask family members to help, or do you have any savings you could use instead? If you’re struggling to pay a bill, try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan.

12+ alternatives to a payday loan

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.

It 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.

Moneyboat customer reviews

Moneyboat is highly recommended on review site Trustpilot. More than 11,000 reviewers give it an overall rating of 4.9 out of 5, categorised as “excellent” by Trustpilot (updated April 2024). Customers were pleased with Moneyboat’s uncomplicated application and speedy access to funds.

Customer support

For help with your loan, contact Moneyboat through its customer care team at or call on 0203 818 7470.

Our verdict

If you get into financial trouble or need a quick solution, short term loans from companies like Moneyboat are easy to turn to and funds can be transferred fast, making them extremely tempting. However, these are high-cost loans, so it’s crucial to explore all other options first, and if you must borrow through a short term loan, borrow as little as possible and repay it as fast as you can to reduce interest.

Back to top

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

More guides on Finder

  • Sites like

    Looking for loans like MoneyBoat loans? Check out our list of sites similar to MoneyBoat and find the right loan for you.

Go to site