Q. Who can get a loan?
A. Anybody that is resident in England or Wales, over 21 years old, and is in regular paid employment - and can show that he/she has the ability to repay the loan.
Q. How much money am I able to borrow?
A. You can request anything up to £1000.
Q. Over what period of time may I take a loan for?
A. Our minimum loan duration is 2 months and our maximum is 6 Months.
Q. How much will the loan cost me?
A. We want to keep it simple and easy to understand. Irrespective of the amount borrowed, the interest rate is 0.5% per day (or part thereof). Each £100 of loan will therefore cost you 50 pence in interest for each day that it is outstanding.
Q. Are there any hidden charges involved in taking a loan with you?
A. No, there are no hidden charges. If you default on your debt, however, you will pay default interest at the same rate of 0.5% per day up to the cap described below.
You will never pay back more than 100% of your original loan amount. That means if you took out a £100 loan, you will never repay more than £200 in total.
Q. Can I pay back the loan before the day that we initially agreed?
A. Yes. No problem. Once the loan is in effect, you can choose to repay it at any time prior to the agreed date. There are no early payment penalties. You pay interest only for the days that the loan is outstanding.
Q. How long will it take for the money to get into my account?
A. We know that you need the money quickly. As soon as the necessary credit and affordability checks are completed, the money will automatically transfer to your account. You should receive it within 15 minutes of a positive decision being made. It may take longer for the payment to be processed and then received by your bank.
Q. What happens if, due to unforeseen circumstances, I am not able to make the repayment on the day agreed?
A. The first thing to do is to let us know as soon as you think that this may be the case. We have a number of ways that we are able to help. The most important thing is not to ignore it! If you are experiencing financial difficulties there are a number of organisations you can contact for advice:
- Money Advice Service: For free, unbiased and easy-to-access money tools, information and advice, visit www.moneyadviceservice.org.uk or phone 0300 500 5000 to speak to a Money Advisor.
- Advice UK: Member centres offer debt advice including specialist advice for minority communicties and people with disabilities – www.adviceuk.org.uk or phone 0300 777 0107.
- Christians against Poverty (CAP): For free debt advice in your home, check post code coverage at www.capuk.org then call 0800 328 0006.
- Citizens Advice: For advice and information on debt and other topics, visit your local Citizens Advice Bureau (address in the phone book) or go to www.adviceguide.org.uk.
- National Debtline: If you live in England, Wales or Scotland phone 0808 808 4000 or visit www.nationaldebtline.org for debt advice and information.
- StepChange Debt Charity: For debt advice throughout the UK Phone 0800 138 1111 or visit www.stepchange.org.
Q. Can I extend the loan?
A. We do not allow customers to extend or ‘roll’ their loans. If you are experiencing financial difficulties or just want to talk about your options contact us as soon as possible and let us help you find the right solution. Alternatively, you can contact the organisations listed above for free debt advice.
Q. How do I pay the loan back?
A. When you signed the agreement you agreed to set up what is called a ‘Continuous Payment Authority’. This enables us to automatically collect the payment on the due date using the debit card details that you provided us with during the application process. If our payment attempt fails then we will make one further payment attempt on the payment date using your debit card details
Q. How do I cancel the Continuous Payment Authority?
A. You can cancel it by contacting us or your bank and informing us or them that you want to cancel the continuous payment authority. Please make sure you do this in good time ahead of the due date so we can comply with your request. You can contact us using any of the methods listed here.
Q. How do I get a copy of my contract and a statement of my account?
A. We are obliged to send you a copy of your contract and a statement of your account within 12 days of receiving a written request and a fee of £1. You can send us this writing to our registered address, by email to email@example.com or via fax on 020 3432 5110. We only ask for the fee of £1 if you want the document to be sent via post. If you would prefer it in email format, simply let us know when you contact us that you would like it via email and we will send it to you as soon as possible.
Q. Is Quidie Limited authorized?
A. Quidie Limited is authorized and regulated by the Financial Conduct Authority. Our interim permission number us 674141. You can contact them at www.fca.org.uk.
Q. What happens if I have a complaint?
A. At Quidie Limited we do care and there should be no cause for complaint. However occasionally problems can arise and we take all customer complaints extremely seriously. You can view our complaints policy here.
Q. What happens if I decide I don’t need the loan and want to withdraw from the agreement?
A. You have specific rights to withdraw from the agreement by giving us notice within 14 days starting the day after the agreement is made or receiving the money, whichever is the later.
Q. How safe is my personal information with you?
Q. Do you sell on lists of customers?
A. We are not credit brokers and we do not sell your personal details onwards.
Q. Is Quidie a Direct Lender?
A. Yes we are. If your application for a loan is successful, your loan contract will be with Quidie Limited. We are not credit brokers.
Q. Where can I compare short-term and instalment loans?
A. Quidie is a direct lender who offer competitive short-term loans. If you would like to compare our loans with other lenders, or to get further information on other loans that are available, then you can use a comparison website such as: www.allthelenders.org.uk.