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Wizzcash short-term loans review

Wizzcash provides 3 month payday loans from £200 to £1000. Applications are online and if you are accepted, money will be transferred straight to your bank account.

Wizzcash acts as both a direct lender and a broker. As direct lender they communicate directly with you, there’s no middle man to deal with and no additional commission fees. If they are not able to help you, they will act as a broker to try to find someone else that can offer a similar or alternative product. Wizzcash states that it aims to be completely transparent, outlining what you will pay each month, what your interest amounts to and what your repayment total will be.

Making sure a loan is right for you is important. Wizzcash will conduct affordability checks and credit checks before approving a loan (Interest is fixed at rate of 292% per year, 0.8% interest per day, representative 1265% APR). Wizzcash are authorised and regulated by the Financial Conduct Authority (FCA) and members of the Consumer Credit Trade Association (CCTA).

warning icon Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

warning icon Please note: High cost short term credit is unsuitable to support sustained borrowing over long periods and would be expensive as a means of longer term borrowing.

Before you apply for a payday or short-term loan, it is important to make sure you’ve considered all options available to you. Is the expenditure that you’re planning absolutely essential? 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?

Key features of a Wizzcash loan

  • Loans of £200-£1000. The amount you’re able to borrow will be subject to Wizzcash’s affordability and credit checks.
  • 3-month instalment loans. Make 3 equal monthly repayments over 3 months to pay back your loan.
  • Total transparency. You’ll be shown all the costs up front before you apply.
  • Quick quote. Use the slider tool on the Wizzcash homepage to choose the amount you want to borrow and the repayment amounts.
  • Simple application. Applications can be completed online and can take less than 5 minutes.
  • Repay early at anytime. There is no early repayment fee.
  • Late repayment fee of £15. As well as incurring a fee, your credit history may be adversely affected.
  • Eligibility criteria. You must be over 18, employed with a take home salary of at least £750 per month, a UK resident with a UK account and debit card.

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

You can use the table below to estimate the cost of the loan that you have in mind and compare Wizzcash to a wide range of popular short-term lenders.

How much money do you need to borrow?


How long do you need to borrow over?


Name Product Available Amounts Monthly repayment Total payable
£50 to £800
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1333% APR and total payable £386.61 in 6 monthly payments of £64.44.
£150 to £5,000
Representative Example: Borrow £350 for 6 months at a rate of 220% p.a. (fixed). Representative 651.4% APR and total payable £605.55 in 6 monthly payments of £100.93.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 259.33% p.a. (fixed). Representative APR 947% and total payable: £750.78 in 6 monthly payments of £125.13.
£100 to £1,000
Representative example: Borrow £250 for 30 days at a rate of 292% p.a. (fixed). Representative APR 1270% and total payable: £310, in 1 payment of £310.
£50 to £1,000
Representative example: Borrow £250 for 74 days at a rate of 292% p.a. (fixed). Representative APR 1300.5% and total payable: £398.00, in 1 payment of £74.00 and 1 payment of £324.00.
£300 to £1,000
Representative example: Borrow £500 for 5 months at a rate of 292% p.a. (fixed). Representative APR 1,297% and total payable: £867.05 in 5 instalments of £173.41.
£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.
£50 to £200
Representative example: Borrow £80 for 29 days at a rate of 292% p.a. (fixed). Representative APR 1281.8% and total payable: £98.56, in 1 payment of £98.56.

Compare up to 4 providers

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

Lending Stream Instalment Loan
On Stride Personal Loan
Peachy Loan
PiggyBank Short Term Loan
QuickQuid Short Term Loan
QuidMarket Short Term Loan
Satsuma Short Term Loan
247Moneybox Payday Loan

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

Payday loans, and high-cost, short-term credit are a very expensive method of borrowing and should only 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.

How does a short term loan from Wizzcash work?

Depending on how much you would like to borrow, Wizzcash’s online calculator will give you an instant quote for the three payments. Payment is due every 30 days. The calculator also specifies how much interest you will pay and your total repayment amount.

The application is completed online. Once you have filled in your details, Wizzcash carries out a series of affordability and credit checks, after which you will receive notice of whether you have been successful of not.

Once approved, Wizzcash will aim to transfer your funds and complete the entire process within one working day.

Like most other payday lenders, Wizzcash uses Continuous Payment Authority (CPA) to take your payment automatically on the repayment date you choose during your application.

What is Continuous Payment Authority (CPA)?

With CPA you give a company permission to withdraw money from your account. Wizzcash uses CPA to collect payments due from the debit card provided on the agreed payment date. If the first payment attempt fails, a second attempt will be made on the same day to collect the total outstanding balance. When Wizzcash have made two consecutive failed attempts to collect payment by CPA, no further collections will be attempted using CPA unless you have given your express consent to do so.

What are the eligibility requirements?

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

  • UK resident
  • 18 or over
  • In current employment, earning minimum of £750 a month
  • Hold a UK bank account with a valid debit card
  • Have a UK phone number

How do I take out a loan with Wizzcash?

  1. Use Wizzcash’s slider tool to determine how much you want to borrow.
  2. Complete the online application form.
  3. If you are approved you will need to accept the agreement.
  4. Your loan should arrive within one hour.

Topping-up/extending your loan

Wizzcash do not typically offer top-ups or extensions. Dependant on circumstances, however, Wizzcash may agree to offer you a repayment plan. While you will not be charged a fee, extending the loan might mean that you will end up paying more than originally agreed.

Is Wizzcash safe to use?

Wizzcash are authorised and regulated by the Financial Conduct Authority (FCA) and are members of the Consumer Credit Trade Association (CCTA). If ever in doubt, you can search the FCA register to ensure a lender is authorised.

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

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*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms "Best", "Top", "Cheap" including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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