Payday Loans

The One Stop Money Shop offers payday loans alternatives allowing you to borrow up to £1,000 repaid over 6,9 or 12 months. Our flexible repayment plan allows you to spread repayment over several months, allowing you to pay off any bills and emergency expenses and improve your financial position.

Founded in 2002, we are one of original lenders in the payday industry and have continued to offer a personal and effective solution to customers looking to borrow money online.

Our online application takes just a few minutes to complete and there are no fees for applying. Upon completion, you will receive an instant decision and subject to further checks, successful applicants will receive funds to their bank account within 1 hour or less.


How is The One Stop Money Shop different?

Whilst many payday loans are designed to last for 14 to 28 days, this can put pressure on an individual’s finances to pay the full sum and interest at the end of the month. At The One Stop Money Shop, we offer an instalment loan product repaid over 6,9 or 12 months and this gives the customer a lot more breathing space to repay their loan.

Happy customers appreciate the added flexibility of having longer to repay their loan and only paying smaller instalments at the end of the month. Plus, if you find that you are in a better financial position and would like to repay your loan early, you have the choice to do so, at any time. It will also be cheaper to repay your loan off earlier than expected as you will save money on the interest that accrues.

When borrowing over 6, 9 or 12 month loans, you are in control, allowing you to borrow the amount you need and repaying on the scheduled pay date and loan duration of your choice.


Why use a payday loans alternative?

Payday loans have been a popular way to borrow money over the last decade, but many people continue to find themselves caught up in this form of high cost loan and if not managed properly, it can often lead to a spiral of debt.

The role of payday loan alternatives has emerged significantly in the last few years with companies such as The One Stop Money Shop providing a more innovative range of products include instalment loans repaid over 6, 9 or 12 months. This gives borrowers a lot more control to stagger repayments and pay them off over a longer period of time, avoiding the potential payday trap.

Customers are able to choose a pay date that suits them, which is typically the day that they get paid from work, which for many is the last working day or the last Friday of the month. For others, it is on a four-weekly cycle or the 25th of the month. Choosing the exact date gives you control over when repayments are made and collections are made from your bank account – all you have to do is make sure that you can cover your monthly payment and you are on track.


Do you accept payday loans for bad credit?

Yes, The One Stop Money Shop is willing to take a view on all credit histories and this includes being able to offer bad credit payday loans. Many applicants are concerned about their credit history and how having the odd default or missed payment on their credit file will affect their chances of approval.

Fortunately, we understand that not everyone can have a perfect credit score in this day and age and therefore we are willing to consider customers looking for payday loans with bad credit. To maximise your chances of approval, we need to confirm that you are in employment, earning a monthly income and are able to afford monthly payments. We may require proof of income through a payslip or bank statement – and our aim is to be able to process your application as soon as possible.

What is the criteria for payday loans?

The criteria for payday loans includes:

  • Full-time UK resident
  • Over 18 years of age
  • Employed and earning a regular income
  • Valid UK bank account
  • Valid UK mobile phone number and email address

Upon completing our loan application, if approved, you will be presented with an online loan agreement highlighting the terms of your loan including borrowing amount, loan term and interest rate. This will need to be electronically signed using a link sent to your email address and a PIN code sent to your mobile phone – and this allows us to process your application faster and also confirm your contact details.

As a firm that is FCA authorised, we must run a series of credit checks using Equifax. This is to monitor any recent credit searches and transactions you have made and avoid giving you too much finance that you cannot manage.

This is coupled with our affordability checks to match the amount that you have requested to borrow and what you can afford to repay. Our checks are automated and carried out online so that you do not have to post any information to us and fill in more details, as we want to push your application forward as soon as we can.

How can I apply for a payday loan?

Our loan application is 100% online and can be started by clicking on the apply now button below. Borrowers can apply 24 hours a day, 7 days a week, including weekends. You can apply using a desktop, mobile or tablet, just as long as you have access to the Internet.

You will be asked some basic information including your name, address, age, income, employment, monthly expenses and bank details – so we know where to send the funds if successful.

There are no upfront fees for applying and your information is held safely and securely through our website. Provided that you meet our criteria, The One Stop Money Shop is delighted to transfer the funds to your account within 1 hour.