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Pounds To Pocket

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Representative APR 399%

Loan Amount £300 - £2,000

Repayment Method Deducted from your debit card

Direct Debit

Payout Method Transferred into your bank account

Speed Approved between 3am and 10pm - 1 hour (providing your bank has Faster Payments)

Next working day if you are approved after 10:00pm

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Good Stuff

You can get up to £2,000 in your account within 1 hour

Bad Stuff

High interest rate compared to other personal loans

Verdict

Very high APR but the convenience of the speed of the money being paid out may outweigh this if you really need the loan - don't need to send documents in so it is a really easy process

Summary[edit]

Pounds To Pocket offer unsecured, personal loans between £300 and £2,000. They do carry out credit checks. You cannot have any CCJ's, charge-off's, be on Debt Management, on an IVA or bankrupt. Their APR is very high compared to other unsecured, personal lenders so have a look around and see if there is a better option for you before you apply.

You can apply online with their four-step application form. Once you have completed the first two steps of the application form, they will tell you if you have been accepted or declined. If you're declined, they may recommend another company for you to apply with - you don't have to continue with this company as you may end up being credit checked twice. If you are accepted, they will contact you and you will need to sign an online loan agreement. You will then need to give them your bank account details where you want the money to be deposited. They money will then be transferred into your account within one hour - providing your bank has Faster Payments and you applied before 10:00pm. If not, the money will go into your account on the next working day.

[edit]Lending Criteria

Criteria:

  • Employment:
    Full Time Work, Part Time Work, Temporary/Contract, Self Employed, Retired, Benefits, Education, Carer, Homemaker, Benefits - JSA, Unemployed
  • Residential Status:
    Homeowner, Tenant, Tenant - Private, Tenant - Housing Assoc., Tenant - Council, Living with Family, Military Accommodation, Work Accommodation
  • Defaults:
    No more than Three
  • Time In UK:
    At Least 3 Years
  • CCJs:
    No, or not in the last 6 years
  • Loan Purpose:
    Debt Consolidation, Home Improvements, Car Purchase, Car (Other), Holiday, Wedding, Boat, Business, Student Loan, Christmas, Other, Home Furnishings

 

Checklist:

  • You must receive an income through employment or self-employment
  • You must be 18 years of age or older to apply
  • You will need to provide: employment and income details and your bank account details
  • You must be a UK resident
  • You must hold a valid bank account with debit card and direct debits
  • Your minimum income must be at least £700
  • You do not need to have a good credit history

[edit]Charges

Sorry, there is no charge information for Pounds To Pocket.

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