Wonga Payday Loans Review

Quick Info

APR (%): 4214%
Loan Amount: £50 - £400
Typical Charges: 1% per day
Additional Charges: £5.50 transfer fee
Credit Check?: Yes
Debit / Bank Required?: Yes
Calls or Emails? None
Payment time: 15 minutes
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About Wonga

Wonga was established in 2007, bringing with them a new, fresh approach to lending. Wonga is now one of the leading online payday loan lenders, and since its emergence has already processed over 2 million payday loans in the UK! At the start of 2011, Wonga opened in South Africa, and at the end of 2011 Wonga also opened its services in Canada. They also expect to open in the US within the next few years.


Must be 18+ Have a UK bank account and debit card Have a regular income All credit histories welcome to apply

Wonga Review Summary

Wonga is a payday loan lender based in London that provides the UK "alternative lending". They provide mini loans ranging from £1 to £400 for new customers for up to 30 days. Their loan application is well-known for being incredibly simple and easy to understand, unlike other lenders. Their famous, nifty little sliders let you decide how much cash you need and how long you want it for, with the full cost of repayment clearly shown upfront. You will get an instant decision with Wonga, and once you have been approved, you will get your loan with in just 15 minutes! You can apply 24/7, even on weekends and bank holidays. If you do not have a good credit history, then you might have to email pictures of your bank statements. They charges a fee of only 1% per day, or 356% fixed rate, which is different from many lenders as each day the interest will rise, because it's a percentage not a fixed amount. An example of this is as follows: If you borrow £100 for seven days, your interest would be £1 day one, £1.10 day two, £1.20 day three etc... and would work out for the total repaid amount to be £112.78 for a £100 seven day loan. Wonga is our recommended payday lender of choice as they are really flexible and have an incredibly unique service. Wonga allows for you to apply for a "top-up" loan if you cannot reach your set amount limit, and lets you extend your loan for up to three months. AS SEEN ON TV! Customer service is available via email and telephone 24 hours a day, seven days a week. Customers can also save £5.50 by using our Wonga Promo Code.

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Contact: Wonga, 88 Crawford Street, London, W1H 2EJ