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Angie

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Review of the Cashfloat, Payday Loans:

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Jump through hoops to get a loan!

I had to jump through more hoops than ever to get this loan. First they ask you to provide access to your HMRC login so they can access proof of your pay and benefits, then they ask for bank statements as well as wage slips and proof of benefits. I repaid the loan back in 7 days and it still cost me £30 interest! If I'm desperate enough, I may consider loaning again, but the interest for a loan, admittedly on a poor credit score, is likely to get you more in debt than before. Reviewed on: 13th July 2023

Reply from Cashfloat Hi Angie, Thank you for taking the time to share your feedback. We appreciate your honesty about your experience. We understand the application process can feel like a lot of steps. The information we ask for is to help us carry out a thorough affordability assessment, which is something we take seriously to ensure any bad credit loan is manageable for the borrower. We appreciate your patience in completing the process. Regarding the cost, all interest and fees are clearly displayed before you accept the loan agreement, so you always have the opportunity to review the total amount repayable and decide whether it works for you. It's worth noting that payday loans and short term loans are designed for emergency or short term use, and we always encourage borrowers to consider whether this type of borrowing is right for their situation. We're pleased you were able to repay within 7 days, and with Cashfloat there are no penalties or extra charges for early repayment. We do value your feedback and will use it to keep improving the experience for our customers. All the best, The Cashfloat Team. Response date: 2nd June 2026

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