Refer to our privacy policy for important information on the use of cookies. By continuing to use this website, you agree to this.

Frequently Asked Questions

Get answers to our most frequently asked questions below.

Warning: Late repayment can cause you serious money problems. For help, go to
Representative Example: Amount of credit: £900 for 11 months at £154.90 per month. Total repayment of £1,703.91. Interest: £803.91. Interest rate: 150% pa (fixed). 278.2% APR Representative.

Browser Security Measures

Pounds to Pocket will soon be updating its security measures, and as a result, you will not be able to access the Pounds to Pocket website if your browser is out-of-date. Our new security measures are not compatible with older web browsers, so you must update your browser by June 2018. We strongly recommend using Google Chrome — it is the most secure and compatible web browser for our website.

If you are using Google Chrome, please click here to download the latest version.

If you are using Safari on your computer, please click here to download the latest version.

If you are using Safari on your iPhone or iPad, please update to the latest iOS. If you are unsure of how to do so, click here.

If you are not currently using Google Chrome or Safari, please click here to download the latest version of Google Chrome.

We take the privacy and security of your personal information seriously, and our recent security updates are part of our ongoing effort to adhere the most stringent of data security standards. You can rest assured that Pounds to Pocket maintains top-level security standards where your personal data is concerned.

Personal Loans - General Information

What are personal loans?

Personal loans are unsecured loans that range from £200 to £2,000† and are typically repaid over 12 months. They can be used for a variety of immediate money needs like car repairs, urgent home repairs or other emergency expenses.

Are there any fees when I apply for a personal loan?

No, we do not charge you any fees to apply for a personal loan - no application fee, no origination fee and no closing costs. Visit our Rates & Terms page to learn more about the cost of your loan.

Does Pounds to Pocket run a credit check on me during the loan approval process?

We run credit checks to verify your application information and to help determine whether your application will be approved or denied, as well as to help us determine the amount of your loan, if approved. We strive to follow responsible lending practices and use the credit check to ensure that we only lend in amounts that can be repaid without hardship.

How long does it take for me to receive funds after I finish my application?

In most cases, your application will be processed within 30 minutes from the time it has been received. If approved, funds will be sent to your current account within 10 minutes of approval. This is dependent on your bank supporting Faster Payments. If your bank does not support Faster Payments, funds will be deposited the same day if your loan is approved by 14:30. You will receive an email notifying you if you have been approved!

Am I eligible to apply? What information do I need for my application?
To be considered for approval, you must:
  • Have a valid bank account
  • Receive an income through employment or self-employment
  • Be a resident of the United Kingdom
  • Be at least 18 years of age
To apply, please have ready:
  • Employment and Income Details
  • Bank Account Details
How much will a loan cost me?

Interest accrues on your unpaid loan amount. The total interest of your loan depends on the loan amount and the term of your loan. Visit our Rates & Terms page to learn more.

Representative Example: Borrow £500 and pay £79.09 per month for 12 months at a fixed interest rate of 140% per year.1 The total charge for credit is £449.01 (all interest). The Total Repayable is £949.01. 278% APR Representative.

Can I repay my loan early or pay more than the scheduled amount?

Yes. If you repay your loan early, you will only pay the amount of interest that has accrued on your outstanding balance. For example, let's say you took out a 12-month loan and decided to repay it in only two months. You would only pay interest for the two months that you had the loan outstanding. We do not charge a fee for repaying your loan early.

If you send an extra payment or pay more than is due on a payment due date, it will reduce your principal balance accordingly and will reduce the total amount of interest you owe.

Making Payments

What are my repayment options?
You can choose from two convenient repayment options that allow you to make payments right from the comfort and privacy of your home:
  • Debit Card: Your regularly scheduled payments will be automatically withdrawn from your debit card on your due dates at no additional cost to you. You don't have to worry about remembering to send in payments each time!
  • Direct Debit Authorisation: Use this option if you don't have a debit card. Your regularly scheduled payments will be automatically withdrawn from your bank account on your due dates.
How does a Direct Debit Authorisation payment work?

Direct Debit Authorisation behaves the same as a cheque. Once presented to your bank for payment of the loan, the Direct Debit Authorisation will allow your bank to send the specified amount due to us in order to pay each instalment on the day it is due.

What is CPA and how does it work?

Continuous Payment Authority (CPA) is a type of automatic payment that authorises a lender to withdraw sums from a customer’s debit card, subject to specifically agreed terms, which are fully disclosed and agreed through the loan application process. Once agreed by a customer, a CPA allows a business to take a series of agreed payments using a customer's debit card details without having to seek express authorisation for every payment. CPAs can provide an efficient and convenient payment method for customers. It is important, however, that you are fully aware of the commitment you are entering into when applying for and accepting the offer of a personal loan from Pounds to Pocket. On your repayment date, Pounds to Pocket will use CPA to collect the full amount due that day from your debit card. If the debit fails, Pounds to Pocket may attempt to debit your card a second time on that same day or the following business day.

How can I cancel CPA on my account?

Customers can cancel their CPA with the bank or card provider or the company taking the payment. Customers advising the bank or card issuer that they have stopped permission for the payments should also notify us.

Customers may also cancel their CPA by contacting us directly. Payments taken prior to cancellation being received will only be considered for full, or part, refund at the discretion of Pounds to Pocket. Please call us on 0800 016 3106 (Call free from landlines. Mobile phone companies may charge up to 40p per minute.). If you cancel your authority for the repayment of your loan with us, you will still be responsible for paying any money that you owe, including any charges that may accrue. An alternative means of repayment should be agreed.

Once I pay off my personal loan, how soon can I receive another loan?

As a responsible lender, we don’t encourage you to use this service frequently. Each loan application is subject to affordability and credit checks in accordance with our responsible lending policy.

Your loan’s repayment method will determine how soon you can apply for another loan.

If you pay by debit card, your payment will clear the bank in seconds and you can apply for a new loan immediately. If approved, the new loan will be funded to your bank account the same day.§

If you pay by Direct Debit, it will normally take two working days for your payment to clear the bank. Once the payment clears, we can issue you another loan, if approved. The new loan will be funded to your bank account the working day after payment clears.

Example: Your final due date is Friday, and your full payment comes out on that date. The payment will clear on Tuesday, and you may apply for a new loan on Wednesday.

What if I need additional time to make my payment?

You should only take out a loan if you can afford to repay the loan pursuant to the terms of your agreement and do so in a sustainable manner. If your financial situation changes such that you believe you will not be able to repay the amount due on your repayment date, then you should contact us on 0800 016 3106 so that we can discuss the options available to you. Depending on your situation, we may be able to defer your upcoming repayment to a later date.

What happens if I can’t make a payment on my scheduled payment date?

At Pounds to Pocket, we understand that your financial circumstances can change in an instant. If you know that you won’t be able to repay your loan amount on your payment date, you should contact us immediately so that we can do our best to help set up payment arrangements that work for you.

If your loan payment is dishonoured, returned, unpaid or otherwise missed, you will be charged a late fee of up to £15.00. We may also charge you default interest on any outstanding principal, at the same interest rate as your contracted interest rate, beginning on the first calendar day after the payment date.

Missing payments can make it more difficult and/or expensive for you to obtain credit reference agencies, and such missed payment may adversely affect your credit report. In addition, if you default under a loan agreement, we may commence legal proceedings and you may be required to pay us the reasonable expenses and costs we incur in those legal proceedings or in attempting to enforce our rights against you under the loan agreement.

Making Changes To My Account

How do I update my customer profile, or change my password?

Log into your personal account using your email and password. Once you are logged in, click on the corresponding link under the Manage My Account section to make updates.

Why don't I receive emails from Pounds to Pocket?

We send email notices when you apply and are approved for a loan. We also send payment reminders and payment confirmations. If you are not receiving any of these emails, add our email address ( to your address book or approved senders list. We also send promotional emails with discounts. If you aren't receiving promotional emails, log into your account and update your Contact Preferences under Manage My Account.

How do I reset my password?

To reset your password, click on the Forgot Password link under the customer login section. On the next page, enter your email address and click the Send Me My Password button. A new password will be delivered to your email address. Once you log in with your new password, you will be required to update that password to something familiar to you. You must update your password to continue.

Is my information secure?

Your privacy and security is extremely important to us. We maintain physical, electronic and procedural safeguards to guard your personal information. View our complete Privacy Policy.

Free Debt Advice

Where can I find help to get out of debt?
We understand that breaking free of your debt can be a challenge. If you’re experiencing financial adversity, we recommend contacting one of these services offering free debt advice:

The National Debtline

A national telephone helpline for people with debt problems in England, Wales and Scotland. Their service is free, confidential and independent.
Phone Number: 0808 808 4000
Monday – Friday from 9 a.m. – 9 p.m.
Saturday from 9:30 a.m. – 1 p.m.

Money Advice Service

Independent service set up by the government to help people make the most of their money. Offers free, unbiased money advice.
Money Advice Hotline
For English, call: 0300 500 5000
For Welsh, call: 0300 500 5555
Monday – Friday from 8 a.m. – 8 p.m.
Saturday from 9 a.m. – 1 p.m.


How much will my Top-Up cost?

The exact cost for a Top-Up depends on the borrowed amount and when the customer pays off the balance. Typically, the total cost of your ‘Topped-up’ loan will be more because of the increased borrowed amount and lengthened repayment term. However, there are no early settlement or processing fees involved for closing your previous loan and rolling it into the new loan.

What is a Top-Up?

If you are still feeling the pinch and are eligible, a Top-Up allows you to borrow more money on top of your current loan. You can apply for a Top-Up before paying back your current loan. If approved, your current loan will be rolled into a new loan with an increased loan amount and longer repayment term. The exact cost for a Top-Up depends on the borrowed amount and when you off the balance. Typically, the total cost of your ‘Topped-up’ loan will be more because of the increased borrowed amount and lengthened repayment term. However, there are no early settlement or processing fees involved for closing your previous loan and rolling it into the new loan.

What will my monthly payment be?

Your new monthly payment will depend on your loan duration and loan amount of the Top-Up.

How much can I Top-Up?

Depending on your financial situation, you can Top-Up your loan up to £2000 (includes your current unpaid principal + Top-Up amount). Your actual Top-Up amount is subject to approval.

How quickly can I receive my Topped-Up loan?

If approved, cash will be sent to your bank account within 10 minutes after approval!§

How long do I have to repay a Topped-Up loan?

The duration of your Topped-Up loan will equal the original duration of your current loan. For example, if the duration of your original loan was for six months then the duration of the Top-Up will also be for six months. It should be noted that the countdown for the duration of the Top-Up begins on the date of approval of the Top-Up and not the date of the original loan.

How do I apply for a Top-Up?

If eligible, you can apply for a Top-Up right from your online account.

Can You Show Me a Top-Up Example?

If your Top-Up is approved, Pounds to Pocket will send the approved Top-Up amount to your bank account and consolidate your current loan balance into a new loan. Your new loan will be based on the outstanding loan balance and any unpaid interest. Your payment schedule will be revised accordingly so you may repay gradually over 12 months.

So, for our example, let’s say these were the terms of your original loan:

Annual Interest Rate
Monthly Payment1
Total Interest
Total Amount Repayable

Final Payment Due Date: 12 months from original funding date

Now, let’s say you have repaid £99.56 of the original loan’s principal prior to receiving a Top-Up. This means your outstanding loan balance prior to the Top-Up would be £600.44.

Loan Amount At Time of Top-Up2
Approved Top-Up Amount
Loan Amount After Top-Up
Annual Interest Rate
Monthly Payment1
Total Interest
Total Amount Repayable

Final Payment Due Date: 12 months from Top-Up funding date

This chart is for illustrative purposes only. Your actual loan, if approved, may be larger or smaller.

1Example assumes each month is 30 days

2At least one instalment payment must be made prior to Top-Up

3Approved Top-Up amount may vary by customer

4£900.44 includes £300 Top-Up and original loan's unpaid principal

5Top-Up example does not include any unpaid interest accrued within the month the Top-Up was taken