If you are like most of the working population you have probably found yourself short of cash from time to time. Not with a spiraling debt problem, which is a very different issue.

This should be addressed by dealing with the root of the problem. Just temporarily in need of additional funds for perhaps a few weeks or days. Often this problem can occur immediately before Christmas, a major birthday celebration, or perhaps a very much needed vacation.

Whatever the reason, many people in this situation simply allow their bank account to go into the red, without informing their bank manager. Perhaps they believe their bank manager would not agree to extend their overdraft if asked.

It is one thing to ask for a loan to buy a car, or build a new kitchen, but quite another to pay for Christmas presents or a holiday. But typically, unless you are already flagged at the bank as a major risk, the bank will probably let you take that unauthorised overdraft anyway.

For a very good reason. Whilst the interest rate itself may not be excessive, the overall cost of this loan, by the time the bank has added on unauthorised overdraft charges, will be very high.

In a report by the BBC at the end of 2011 it was revealed one bank charges customers the equivalent APR of over 800,000% for exceeding their overdraft by £100 pounds for 28 days! At the end of the 28 days they are required to pay back £200 for the privilege of borrowing £100. Good profit for the bank, but bad news for the customer!

Others, who are less fortunate, cannot negotiate an overdraft with their bank, perhaps because of poor credit history. They end up in the same boat, though. They are not allowed an overdraft, but the bank lets them slip into one anyway, and then charges them the high fees outlined above. Or the bank does not allow them to overdraw. Or they do not even HAVE a bank account.

This is where provident payday loans with Wageme.com can be very useful. You should, of course, expect the interest rate to be higher than would be the case if you took out an authorised overdraft. But at least the loans are usually available, and they are probably a whole lot cheaper than allowing your account to slip into the red without prior agreement

Contact us now or just apply online: Apply Here With Wageme