Cash when you need it

Borrow up to £500 Secure Online Application Borrow from £200 to £500 Installment PaymentsFunds Received in 24 Hours

100
1
+
£500
+
3 months

Representative Example: Borrowing £500 over 3 months, repaying £277.29 per month, total repayable £831.87. Interest rate 365%. Representative 1058% APR (variable)

  • Secure Online Application
  • Borrow from £200 to £500
  • Installment Payments
  • Funds Received in 24 Hours


Welcome To Payday Ace - The No 1 Payday Loan Company

Payday Ace is the ultimate lending Payday loan company providing short term cash to customers. Majority of customers will qualify for a loan with us today, provided you can satisfy us that you can afford to repay your loan on your next payday. We use a sophisticated validation system which provides cash to customers provided they can adequately satisfy us they have the ability to repay their loan on time.

Cash When You Need It

Payday Ace is here to help with any occasional short term cash flow problems. Just request the amount you want to borrow £100 – £1000, and we aim to have your cash as soon as possible. We provide flexibility in helping you cover those short term needs.

Collection Practices

We lend to our customers in good faith and we expect the full repayment to make on the agreed repayment date. If you are unable to make the full payment on time it is imperative that the customer informs us in advance. We will promise to be fair to you in such circumstances and will offer you a payment alternative to help keep your credit score unaffected. We will not charge you unreasonable fees for defaulting or harass you if your account is in arrears. Our collections policy is fair and we will give you adequate time to remedy your default.

Non-Payment And Financial Implications

We would like to outline you always need to be sure you can afford to repay a short term loan on the due date before you take out a loan, this will save you a lot of hassle and extra costs. In the event of a default we may refer your loan to our Debt Collections Partner. Please note that we might charge you with other reasonable costs that have incurred as a result of you missing payments and pursuing you for payments due under the loan agreement including our reasonable legal costs. Please not we might try to collect your loan automatically on a daily basis. We might try and collect your loan automatically in parts until your debt has been recovered.

Renewal / Extension Policy

You are allowed to extend your loan up to three times. You may apply for a loan extension by emailing the accounts team prior to the repayment date at info@madisonfinance.co.uk. Please note to extend your loan you need to pay the outstanding interest and fees of your current loan. All loan extensions are at our discretion and subject to us meeting our responsible lending obligations.

About Us

Payday Ace is the online solution for short-term cash and is part of Madison Finance. You can be assured we are here to help you find the right loan for those unexpected expenses that may arise. We are fast becoming the UK’s market leader as a payday loan lender offering a unique and user friendly environment to apply for a loan today.

How It Works

Charges

Payday Ace can help you find one of the most cheapest and competitive Payday loans companies in the market. We don’t add any hidden admin charges or fees. The calculator box on the home page displays the amount borrowed and the amount to repay on the requested repayment date. We are very transparent at Payday Ace and will show any additional costs which a lender might charge upfront before you commit to any agreement.

APR Explained

Our Representative APR rate is 2339%. The APR is the Annual percentage rate for a loan that would be borrowed for a full year. This interest figure at first glance seems rather high but you have only got to remember you will only be borrowing for a maximum of 31 days not over a full year. The APR equation was not designed for short term loans in mind.

Competitive Rates

Payday Ace is the leading Payday loan direct Lender in the industry and our competitive rates display we are market leaders.

Administration Fee

Please be advised we will charge every customer a £2.95 upfront administration fee that is non-refundable. The fee covers the cost of assessing your application and carrying out an identity check to ascertain your personal details.

FAQ’s


HOW MUCH DO YOU WANT TO BORROW?

We help you find loans from £100 to £1500. Just select the requested amounts on your application form. If your requested amount is declined by the lender we will advise each customer what your credit limit has been set to.

DO YOU RUN CREDIT CHECKS?

Yes we do run credit checks with (CRA’s) Credit reference agencies along with identity checks in accordance with anti-money laundering regulations. PaydayAce uses this information to ascertain a customers credit worthiness along with providing enough information to conduct an affordability assessment on each applicant.

HOW LONG DOES THE APPLICATION PROCESS TAKE?

Once we receive your application it can take up to 24 hours for the underwriters to assess the application. You will receive a text message with our decision.

WHAT IS YOUR ELIGIBILITY CRITERIA?

Each customer must be over the age of 18 years old, in full time employment and earning over £500 per month. You will need a bank account that accepts direct debits.

IF I HAVE BAD CREDIT CAN I STILL APPLY?

If you have slightly adverse credit you can still apply but we do run credit checks, this information is used to assess your credit worthiness and conduct an affordability assessment. You just need to satisfy us that you can afford to repay your loan on your next payday and pass the relevant affordability tests conducted.

IF I HAVE CCJ’S CAN I STILL APPLY?

Yes you can still apply but this may affect your application. We will look at each indicudual case and conduct a full affordability assessment before we can approve your loan and you need to satisfy us that you can afford to repay your loan on your next payday.

HOW LONG DOES IT TAKE TO RECEIVE THE MONEY?

We aim to get your application approved within 24 hours with the direct lender and the funds transferred to your bank account usually the same day. If you do not receive funds the same day you will receive them first thing the following day.

DO I HAVE TO REPAY THE LOAN IN FULL?

No you can choose to repay the interest payment and extend the loan for another month. You will need to contact customer services 7 days prior to your payment being taken to arrange this facility.

IF I FAIL TO REPAY MY LOAN ON PAYDAY

Please be advised if you fail to repay your loan on the requested day you are in breach of your contract you have with Payday Ace. You will incur additional late fees and interest amounts that will be added to your account and your account will be passed onto an external collections agency to recover the outstanding loan amount. You need to ensure all payments are made on time to avoid any legal collections procedures



Contact Us

Payday Ace is part of Madison Finance and would like to advise all customers it can take up to 24 hours to approve your loan. Once you have been provisionally accepted the underwriter’s will validate your application before it is fully approved. You will receive a text message to advise your loan has been approved or declined. For the fastest response to any enquiry please email support@paydayace.net and quote your reference number.

COMPANY REGISTRATION DETAILS

   Registered Company No:07902795
   Registered Office:Kemp House, 152 – 160 City Road, London, EC1V 2NX
   Data Protection Licence:Z3241119
   CCL No:654334
   Email:info@paydayace.net