QuickQuid short term loans review

QuickQuid went into administration in October 2019, so it's no longer issuing loans. If you're an existing customer with a loan outstanding, you should continue repayments as usual. We've left this page live for historical purposes.

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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.

How do QuickQuid’s loans hold up against the competition?

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

How long do you need to borrow for?

1 - 5 of 5
Name Product Available Amounts Monthly repayment Total payable Link
QuidMarket Short Term Loan
£300 to £1,500
Go to site
View details
Representative example: Borrow £300 for 3 months at a rate of 292% p.a. (fixed). Representative APR 1297.5% and total payable £454.38 in 3 instalments of £151.46.
The Money Platform Short Term Loan
£250 to £1,000
Check eligibility
View details
Fund Ourselves (Welendus) Short Term Loan
£100 to £1,500
Go to site
View details
Representative example: Borrow £200 for 122 days at a rate of 208% p.a. (fixed). Representative 504.7% APR and total payable £286.62 in 4 monthly payments of £71.71.
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.
Lending Stream Instalment Loan
£50 to £1,500
Go to site
View details
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
Important information:
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
Fund Ourselves (Welendus) Short Term Loan
Moneyboat Short Term Loan
Lending Stream Instalment Loan

Key features of a QuickQuid loan

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 NameQuickQuid Short Term Loan
Available Amounts£50 to £1,500
Representative APR1,294.1%
New customer maximum£1,000
Loan terms1 month to 3 months
Soft search eligibility check
Funding speedQuickQuid 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 optionsMonthly
Default repayment methodContinuous Payment Authority or Direct Debit Authorisation
Repay early at any point
Parent companyCashEuroNet UK
FCA registration number673738

How does a short term loan from QuickQuid work?

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.

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.

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.

What are the different repayment periods?

  • 1 period. Your loan amount and accrued interest are due on your repayment date
  • 2 periods. Your accrued interest is due on your first repayment date. On your second repayment date, you’ll pay your loan amount plus additional accrued interest.
  • 3 periods. Your accrued interest is due on your first two repayment dates. On your third repayment date, you’ll pay your loan amount plus additional accrued interest.

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.

What are the eligibility requirements?

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:

ResidencyUK resident
Minimum age18
Additional eligibility notesYou must have a valid UK bank account
You must have a regular income

Is high-cost, short-term borrowing a good idea?

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.

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.

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.

More guides on Finder

  • QuickQuid loan calculator

    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.

  • Loans like QuickQuid

    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.

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