Swift Money review

Swift Money is a growing payday loan broker offering fast short term loans, but high interest means this service should be a last resort.

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Swift Money

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.

What is Swift Money

As a broker and not a direct lender, Swift Money will not provide financial services directly to customers, but will find lenders or providers for you instead. With over 20 UK payday loans providers linked to its service, Swift Money makes it simple for people in need of emergency cash. Swift Money gets you to fill in a simple application form, then it sends your application to various lenders to find you one willing to lend to you.

Whilst this may save you some time, as with all payday loans providers, Swift Money loans have very high interest.

Key Features of Swift Money payday loans at a glance

Product NameSwift Money Short Term Loan
Available Amounts£100 to £3,500
Representative APR815.74%
New customer maximum£3,500
Loan terms1 month to 24 months
Soft search eligibility checkcross
Funding speed10 minutes
FCA registration number738569

How much does it cost?

This will depend on how much you want to borrow, your rate, and the length of your loan term. The longer you take to repay the loan, the more you’ll pay in interest.

Swift Money loans have a representative APR of 815.74%. You’ll also not be charged any upfront or ongoing fees when you take out a loan.

Am I eligible for a Swift Money payday loan?

You should only apply for a Swift Money payday loan if you’re certain you can meet the repayment terms, and you meet the following criteria:

ResidencyUK resident
Minimum age18
Additional eligibility notesYou must have a regular income.
You must have a bank account with a valid debit card.

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.

How do I apply?

If you’ve decided that a Swift Money payday loan is right for you, simply follow these steps to view what loans are available to you and get the cash you need.

  1. Go to Swift Money’s “Apply Now” page on its website and fill in the simple 5 minute application form.
  2. Have your application forwarded to over 20 payday loans providers, and if you’re accepted you’ll receive details of the lender Swift Money has found for you, and you will automatically be sent to the lender’s website.
  3. Your lender will send you your loan agreement. It’s important you read this carefully before signing.
  4. Most of Swift Money’s lenders have a same day payout service, so you could have the funds in your account within a few hours. Make sure you look into your lender’s payout policy before signing however, as this is not always the case.

Is Swift Money safe to use?

Swift Money is authorised and regulated by the Financial Conduct Authority (FCA). If ever in doubt, you can search the FCA register to check whether a lender is authorised.

When will I receive my loan?

Applying to over 20 payday loans providers in one form does make the application pretty quick and simple, it should take only 5 minutes. After this, it should take only a couple of minutes for Swift Money to see if a loan match can be found for you.

From then however, it is up to your lender how long it takes for you to receive the money. Many of the loans Swift Money broker are paid out the same day as they try to only work with speedy lenders, but usually payouts take longer.

Swift Money pros and cons


  • Application time. It can take less than a day to get a small loan.
  • No set up or arrangement fees.
  • Poor credit doesn’t mean you’ll necessarily be declined.


  • Very high interest.
  • Will result in multiple credit checks being done.
  • There may be other cheaper options open to you.

Our verdict

Swift Money offers quick loan funding and easy application, but also has the same risks and drawbacks as other payday lenders.

While Swift Money may give you a better rate than many other short term or payday loan providers, you’re still likely to end up paying a lot in interest. A short term loan like the ones offered by Swift Money should only be considered as a last resort, and can cause serious financial issues.

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.

Frequently asked questions

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