Just text for cash with mobile payday loans

There are always going to be times when you want money quickly, especially with the recession biting deeply into people’s pockets. So it is no surprise that fast payday loans have become a regular part of our financial landscape.

The advent of smartphones means you can speed the application process up even more, by simply texting when you need cash.

Payday loans offer small amounts over a short time. It is like having a cash advance on your wages, which you return when you get paid. You wouldn’t get a payday loan to finance a new kitchen or buy a car, for example. But you might if you were faced with an unexpected bill or a family emergency.

With mobile payday loans the application process is quick and easy. Different loan companies vary in their processes, but the general rule is that you register online first.

This can be done on your smartphone too, of course. You have to be a UK citizen, possess a bank account, be over 18 and have a regular income. Once you have registered, and been accepted, the loan company sends you a personal identification number (pin).

Using this pin, you can then text the loan company with the amount you want to borrow. They will reply by text, and if you are approved you text them back to say you agree to the loan’s terms and conditions.

Make sure you have read these carefully, as once you have texted your agreement you are responsible for the repayments.

Times vary, but with Wageme.com your money will usually be in your bank account within the hour, ready for you to withdraw if you select the faster payment option.

Because we concentrate on fast approvals and bank transfers, borrowing amounts are usually less for mobile loans than for regular payday loans.

Numbers vary, but you can usually borrow between £50 and £400.

Mobile payday loans are worth considering if you have an erratic income, making it hard to budget month by month. If you need extra cash to cover you for a few days before a payment clears, or because a bill has come in early, then you text your loan company.

Some companies work 24-hours a day, meaning you don’t have to apply within office hours. If you don’t have regular access to a computer they are also helpful, as you don’t even need to be online to send a text.