Important: QuickQuid went into administration in October 2019 so is no longer issuing loans. Check out our guide on alternative payday or short term loans.
Flexible short term loans from QuickQuid can get you quick access to up to £1,500, with clear terms and a straightforward online application process. QuickQuid tells you the total cost of your loan upfront, so that you know exactly what you’ll need to pay and when.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
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.
QuickQuid provides short term loans designed to help you manage unexpected expenses between paydays.
QuickQuid loans are paid back in either one, two or three payments, depending on the term of the loan. If you opt for a longer loan, where you pay the loan back in two or three payments, then your first payment(s) will purely cover the interest accrued. With the final payment you’ll pay back interest plus the original amount borrowed. This might seem like a good idea, because all but the final instalment will be smaller than if you were steadily chipping away at the capital, however the reality is that you’ll pay more interest overall with an interest only loan (compared to an interest and capital repayment loan at the same rate).
| Product Name | QuickQuid Short Term Loan |
|---|---|
| Available Amounts | £50 to £1,500 |
| Representative APR | 1,294.1% |
| New customer maximum | £1,000 |
| Loan terms | 1 month to 3 months |
| Soft search eligibility check | |
| Funding speed | QuickQuid says it aims to transfer funds within 10 minutes of approval as long as you’re approved by 2.30 PM. If your application’s approved outside this time, funds are transferred the following morning. |
| Repayment period options | Monthly |
| Default repayment method | Continuous Payment Authority or Direct Debit Authorisation |
| Repay early at any point | |
| Parent company | CashEuroNet UK |
| FCA registration number | 673738 |
If you’re looking to get a loan over more than one month, then unlike most of their competitors, QuickQuid won’t ask you to pay back the original amount borrowed until the end of the term (your first payment(s) will consist of interest only). So your first payment(s) will be smaller, while your final payment will be significantly larger. This might seem fantastic, but bear in mind that this means you’ll pay more interest overall than if you were chipping away each month at the capital borrowed.
You can apply online for a loan amount and repayment period. You can either link a debit card for your repayments or authorise direct debit from your bank account. Repayment(s) will then be collected from your preferred repayment method on the date(s) listed on your contract. Your loan won’t be funded until you have authorised a valid repayment method.
CPAs 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 CPAs to collect your repayments, although you can cancel this at any point by either consulting with your provider or your bank.
No matter which repayment period you choose, you’re able to repay part, or all of your loan early at no additional cost. This can help you save money by reducing the amount you pay in interest.
You should only apply for a QuickQuid loan if you’re certain you can meet the repayment schedule, and you also meet the following criteria:
| Residency | UK resident |
|---|---|
| Minimum age | 18 |
| Additional eligibility notes | You must have a valid UK bank account You must have a regular income |
High-cost, short-term credit providers like QuickQuid offer a super convenient but expensive method of borrowing. Because of this, it should only really 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 for sustained borrowing.
Before you apply for a payday or short term loan, make sure you’ve considered other options. Is the expenditure that you’re planning absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you’re struggling to pay a bill, then why not talk to your electricity, gas, phone or water provider to see if you can work out a payment plan? Read more about alternatives to payday loans at moneyadviceservice.org.uk.
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.
Considering a QuickQuid short term loan? Use our calculator to work out how much you’ll pay back. You can also compare QuickQuid against the competition and make sure you’re getting the best deal.
QuickQuid has become one of the biggest names in payday lending, but it isn’t the only provider of short term loans around. Here’s a list of UK lenders that offer similar products/services to QuickQuid.