Swift Money is a UK-based credit broker, not a direct lender. We match your application with lenders from our panel who offer short-term loans (including payday style loans and instalment options) ranging from £100 to £5,000, subject to eligibility and lender criteria. Swift Money are authorised and regulated by the Financial Conduct Authority (FCA) (Firm Reference Number: 738569).
No fees are charged to you as the customer, we receive a commission from lenders if your application is successful.
A payday loan (also known as high-cost short-term credit or HCSTC) is a small, short-term borrowing option designed to cover unexpected expenses until your next payday or over a few months. Loans are paid directly into your UK bank account. Repayment is usually in one lump sum or instalments, depending on the lender. These products are regulated and intended only for short-term needs, not as a long-term financial solution.
You complete a quick, secure online application. We carry out a soft credit search (which does not affect your credit score) and pass your details to suitable lenders. If a lender approves your application, you receive a personalised quote showing the exact amount to borrow, repayment schedule, total cost, and APR. You can accept or decline the offer. If accepted, funds are typically transferred the same day (subject to bank processing times).
To apply you must be:
• At least 18 years old
• A UK resident
• In possession of a UK bank account and debit card
• Receiving a regular source of income (e.g. employment, benefits, or pension)
Lenders will assess your affordability and conduct credit checks. Meeting the basic criteria does not guarantee approval — each lender makes its own decision based on your individual financial circumstances.
Many lenders on our panel consider applications from customers with adverse or poor credit histories. However, approval is never guaranteed and depends entirely on the lender’s affordability assessment. We aim to improve your chances by matching you with multiple lenders.
The initial eligibility check with Swift Money uses a soft search and will not appear on your credit file or affect your score. Only if you proceed with a specific lender may they perform a hard search, which will be recorded and visible to other lenders for a short time.
The online form takes just a few minutes. Many customers receive an instant decision and, if approved, funds can be in their account the same day (typically within hours, depending on your bank).
Under FCA rules for high-cost short-term credit, lenders cannot charge more than 0.8% interest per day. Default fees are capped at £15. Crucially, the total amount you repay (principal + interest + fees) cannot exceed twice the amount borrowed. Costs vary by lender, loan amount, and term — always review the representative APR and total repayable amount shown in your personalised quote before accepting.
Yes. All lenders we work with are fully authorised and regulated by the Financial Conduct Authority (FCA). Swift Money is also FCA-authorised (FRN 738569). Regulation includes strict affordability checks, advertising standards, and caps on costs to protect consumers. Lenders must clearly explain the loan features, risks, and your rights before you borrow.
Yes. There is no cost to you for using our broker service. We earn a commission from the lender only if your loan is successfully arranged.
Repayment is usually collected automatically from your debit card or bank account on the date(s) agreed with your lender. Some loans are repaid in one lump sum; others in fixed monthly instalments. Full repayment details will be in your loan agreement.
Contact your lender immediately — they are required to work with you and may offer short-term forbearance options. Late or missed payments can lead to additional charges (capped at £15), increased debt, and damage to your credit score. Persistent non-payment may result in debt recovery action. Do not ignore the issue; early communication is essential.
Yes. You have the right to repay early at any time with no penalty. You will only pay interest and charges for the time you actually had the loan.
You have 14 days from the date the loan starts to cancel the agreement without charge (subject to lender terms). Details are provided in your loan documents.
Short-term loans are expensive compared with other forms of credit. If you cannot repay on time, costs can rise and you risk entering a cycle of debt. They are not suitable for long-term borrowing or ongoing financial difficulties. Only borrow what you can comfortably afford to repay from your next income.
No. They are designed for genuine short-term emergencies only. Before applying, consider whether you have other options such as using savings, speaking to family, or seeking budgeting support. Loans should never be used to cover existing debt repayments.
Consider lower-cost options first, such as:
• Credit union loans or government-backed schemes
• 0% purchase or balance-transfer credit cards (if you can qualify)
• Family or friends
• Budgeting assistance or grants
Free, independent advice is available from MoneyHelper, StepChange, or National Debtline (0800 138 1111). Many people find these services help them avoid high-cost borrowing altogether.
Contact your lender straight away. Free debt advice charities can help you create a repayment plan and stop the debt growing. Do not take out further loans to pay existing ones — this often makes the situation worse.
First raise the issue directly with the lender or with us via our support form. If you are not satisfied, you can refer the matter to the Financial Ombudsman Service (free and independent). Full details are on the FCA website.
Yes. We use secure encryption and only share your information with FCA-regulated lenders you are matched with. We never sell or share your data for marketing without your consent.
No. Multiple simultaneous applications can harm your credit score and reduce your approval chances. We recommend applying through one broker at a time.
We recommend these independent resources:
• MoneyHelper
• StepChange Debt Charity
• National Debtline