{"id":322438,"date":"2020-07-09T14:47:06","date_gmt":"2020-07-09T13:47:06","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?page_id=322438"},"modified":"2025-07-15T13:07:49","modified_gmt":"2025-07-15T12:07:49","slug":"steadypay","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/personal-loans\/steadypay","title":{"rendered":"SteadyPay loans review 2026"},"content":{"rendered":"
Late repayments can cause you serious money problems. See our debt help<\/a> guides.<\/div><\/article>

What is SteadyPay?<\/h3>

SteadyPay is a subscription-based credit provider that aims to support gig economy workers or those with irregular income. It attempts to help workers when their weekly income is lower than usual, such as when they work fewer hours, take time off due to illness or are away on holiday.<\/p><\/div><\/div><\/div>

How does SteadyPay work?<\/h3>

SteadyPay securely connects its app to your bank account using open banking<\/a> technology, and when you earn less than your average weekly income, it offers a \u201ctop-up\u201d to your account to make up the difference. For example, if you normally earn \u00a3500 but only earn \u00a3400 one week, SteadyPay can pay you a \u201ctop-up\u201d advance of \u00a3100 into your account (you can accept or decline it). You then repay this amount over a series of regular instalments. You can also request top-ups yourself if an unexpected expense crops up.<\/p>

Unlike a credit card, SteadyPay does not charge interest. Instead, it uses a subscription model, with a \u00a37 weekly subscription fee. You\u2019ll need to have paid your subscription fee for 2 weeks to be eligible for a top-up.<\/p>

The minimum top-up you\u2019ll receive is \u00a325, and the maximum you can owe at any one time is \u00a31,000. You can continue to get top-ups provided your balance stays below the \u00a31,000 limit.<\/p><\/div><\/div><\/div>

How much does SteadyPay cost?<\/h3>

A SteadyPay subscription costs \u00a37 per week. There\u2019s no interest on any income top-ups you receive, but you do have to pay these back.<\/p>

If you\u2019re only after the credit-boosting \u201cStepUp\u201d<\/a> facility and don\u2019t want income top-ups, you can pay a subscription of \u00a37 per month.<\/p>

The subscription fee is collected from your debit card each Friday after 2pm.<\/p><\/div><\/div><\/div>

Key features of SteadyPay membership<\/h3>
\n \n
Product Name<\/th>SteadyPay<\/td><\/tr>
Available Amounts<\/th>\u00a325 to \u00a31,000<\/td><\/tr>
Representative APR<\/th>91.25%<\/td><\/tr>
New customer maximum<\/th>\u00a31,000<\/td><\/tr>
Funding speed<\/th>To be eligible for top-ups, you must have paid the subscription for 2 weeks.
Upon accepting a top-up offer, SteadyPay will transfer the money to your bank account by the next business day.<\/td><\/tr>
Default repayment method<\/th>Continuous payment authority<\/td><\/tr>
Additional repayment methods<\/th>Online payment<\/td><\/tr>
Repay early at any point<\/th><\/use><\/svg><\/td><\/tr>
FCA registration number<\/th>789333<\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

How long does it take to get a SteadyPay top-up?<\/h3>

You should receive your top-up advance within 2 working days of your payday. It can take up to 24 hours after your normal pay has been deposited in your bank account before the SteadyPay app updates, and then another working day for the top-up amount to be deposited in your account if you accept the top-up offer. <\/p><\/div><\/div><\/div>

How much can I borrow with SteadyPay?<\/h3>

The amount you\u2019re offered is based on your average pay (calculated on 3 monthly paychecks or 4 weekly\/fortnightly paychecks). So if your income is more than \u00a325 below the average, SteadyPay might offer to top it up to the average. You can even get multiple top-ups, but your overall credit balance is capped at a \u00a31,000 limit.<\/p><\/div><\/div><\/div>

What are the eligibility requirements?<\/h3>

While SteadyPay offers a slightly different service than a credit card or personal loan, it still has certain criteria you\u2019ll need to meet to be eligible:<\/p>

\n \n
Minimum age<\/th>18<\/td><\/tr>
Applications from self-employed considered<\/th><\/use><\/svg><\/td><\/tr>
Additional eligibility notes<\/th>You must be in employment<\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

How do I make repayments?<\/h3>

You repay your top-up advances through regular instalments, which are scheduled based on whether you get paid weekly, fortnightly or monthly. Once you\u2019ve received a top-up advance, SteadyPay automatically takes the scheduled instalments from your bank account. If you can\u2019t make a repayment, you should contact SteadyPay at least 3 days before the instalment is due to be taken from your account. <\/p>

What is SteadyPay StepUp?<\/h3>

SteadyPay StepUp is a way to boost your credit score<\/a> in return for a monthly fee. You pay \u00a37 a month, and SteadyPay treats this subscription payment as a repayment<\/em> on a credit agreement. Each payment gets reported back to the main 3 UK credit reference agencies (Experian<\/a>, Equifax<\/a> and TransUnion<\/a>), which should benefit your credit score with each of them.<\/p>

Portify<\/a> and LOQBOX<\/a> offer similar services, which you can compare in our guide to improving your credit score<\/a>. <\/p><\/div><\/div><\/div>

Is SteadyPay any good?<\/h3>

If you don\u2019t take any top-ups from SteadyPay, then you paid money for nothing (or maybe just for peace of mind \u2013 like an insurance policy you don\u2019t claim on).<\/p>

If you do, it\u2019ll almost certainly work out cheaper than, say, a payday loan might have, but it might not work out as cheap as a credit card (if you cleared the credit card balance in full every month you used it).<\/p>

Creative solutions to help people with unpredictable incomes is undoubtedly a good thing, and \u00a37 a week is unlikely to break the bank. But SteadyPay takes some getting your head around, and some might find its competitor Creditspring<\/a> a clearer prospect. Both offer short-term credit, and both require a bit of planning ahead (needing to be a member for a set period before you can draw on the credit facility).<\/p>

Similarly, the new StepUp credit-boosting feature may struggle to compete with LOQBOX<\/a>, which repays your monthly subscriptions to you at the end of an agreed term.<\/p>

SteadyPay doesn\u2019t seem set to change lives overnight, but credit where credit is due (sorry), it is<\/em> one of a new wave of fintechs reshaping the borrowing landscape for the better.<\/p><\/div><\/div><\/div><\/div>

\n \n
Repay early at any point<\/th><\/use><\/svg><\/td><\/tr>
Multiple loans allowed at the same time<\/th><\/use><\/svg><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

SteadyPay customer reviews<\/h3>

SteadyPay has an \u201cexcellent\u201d rating of 4.6 on review platform Trustpilot, based on more than 300 reviews (updated July 2023). Many customers were quick to recommend SteadyPay, praising their excellent customer service and quick responses.<\/p>

Customer support information<\/h3>

You can contact SteadyPay by using the in-app chat service.<\/p> \n