Trusted Quid short-term loans

Trusted Quid provides short-term loans of £100 to £1,500. First-time customers are limited at £500, and are usually offered up to £250. Review Trusted Quid's services and find out if it's got the right loan for you.

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Trusted Quid

Based in Edinburgh, Trusted Quid has been offering short-term loans since 2011.

Trusted Quid is rated highly for its customer service. However in March 2018, Trusted Quid the lender admitted it had suffered a serious data breach and loan application details of 66,000 of its customers had been stolen. In a statement on its website, Trusted Quid says: “There has been a theft of data from unauthorised access to the Trusted Quid website. The incident relates to data directly entered by people applying for a loan only on the Trusted Quid website between 1 July 2016 and 17 February 2018.”

If you have been affected by the breach, Trusted Quid will have sent you an email on 28 February or 1 March 2018, informing you that your data had been accessed. It includes advice on the support available to you. The lender is working with a team of experts from anti-fraud specialists Cyber Scout and has put measures in place to ensure that a similar breach does not happen again. If you are considering taking out a loan with Trusted Quid, ensure you read the information relating to this incident on its website carefully before you go ahead.

Trusted Quid is authorised and regulated by the Financial Conduct Authority.

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.

Key features of a Trusted Quid loan

  • Borrow £100 to £1,500. The amount you are offered will be based on your eligibility, income, credit history and ability to repay. First-time customers are limited to £500, but are usually offered up to £250.
  • Repay over 6 months. Match the days your loan payments are due to when you get paid. You will be sent a loan statement 10 days before your repayments are due. With only one set repayment term, Trusted Quid does not offer the same flexibility as some of its competitors. However, you can pay the loan off early at any time at no extra cost.
  • Fast payment. If your loan is signed off before 10pm weekdays or 6pm Saturdays, you will usually have the money in your account on the same day.
  • Fixed, high interest rates. With high interest rates added to your loan amount daily, this is realistically an expensive way to borrow money.
  • Reloans. If you have paid off your existing loan, on time or early, you are eligible to apply for a further loan immediately which you could receive within 2 hours of applying. But bear in mind that short-term loans are not suitable for long-term borrowing.
  • No late fees. Trusted Quid will not charge you if you are late with a repayment. However, late or missed payments can harm your credit rating and make it difficult for you to obtain credit in the future. Increasing the time the loan is outstanding will also cost you more in interest.

How do Trusted Quid loans compare?

Table: promoted deals, sorted by total payable
If you’ve used Trusted Quid loan calculator to get a quote and want to see if you’re getting a good deal, find out how much a comparable loan is likely to cost you from some popular short-term lenders:

How much do you need to borrow?

How long do you need to borrow for?

Name Product Available Amounts Monthly repayment Total payable
Lending Stream Instalment Loan
£50 to £1,500
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.
Moneyboat Short Term Loan
£200 to £1,500
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.
Satsuma Short Term Loan
£100 to £1,000
Representative example: Borrow £480 for 9 months at a rate of 133.1% p.a. (fixed). Representative 535% APR and total payable £959.04 in 9 monthly payments of £106.56. Personal Loan
£300 to £3,000
Representative example: Borrow £1,000 for 12 months at a rate of 152.33% p.a. (fixed). Representative 352.7% APR and total payable £1,999.92 in 12 monthly payments of £166.66.
Sunny Loan
£100 to £2,500
Representative example: Borrow £100 for 8 months at a rate of 204% p.a. (fixed). Representative APR 567% and total payable £199.33 in 8 monthly payments of £19.93. You can repay this loan early.

Compare up to 4 providers

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

Lending Stream Instalment Loan
Moneyboat Short Term Loan
Satsuma Short Term Loan Personal Loan
Sunny Loan

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

Short-term or “payday” loans offer a quick fix when you get into unexpected trouble with your finances, but they are a very expensive method of borrowing. Therefore, you should only consider this option as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not suitable for borrowing over longer periods, or if you have serious debt problems.

Before you apply for a short-term loan, make sure you have considered all other options carefully. Is the expenditure that you’re planning a necessity? If you can put off a purchase even for a few months then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking 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

How does a Trusted Quid loan work?

  1. Fill out the simple application form on the website with your personal, employment and financial information. This should take about 10 minutes.
  2. In most cases, Trusted Quid will provide you with a decision in principle in just a few minutes.
  3. A Trusted Quid advisor will call you to talk through your application. They may ask for additional information, including verification of your employment and/or recent bank statements.
  4. For a returning customer, the application process is usually shorter. However, an advisor will still need to speak to you to ensure your circumstances haven’t changed since your previous loan.
  5. If you’re approved, you should have the money in your account on the same day (excluding Sundays and bank holidays).

How do I pay back my loan?

Like most short-term loan providers, Trusted Quid 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.

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 will use CPAs to collect your repayments, however you can cancel this at any point by either contacting your provider or your bank.

What are the eligibility requirements?

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

  • Be a UK resident
  • Be at least 18 years old
  • Be employed full time and make at least £1000 per month
  • Have a UK bank account with a debit card

Trusted Quid does will not consider your application if you are bankrupt.

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 also 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.

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