PaydayUK: MEM Capital

Company Name: MEM Consumer Finance Ltd
Site Description: Fast Payday Loans: No Paperwork, No Credit Checks, Instant Approval, Easy Application! Repay on your payday! (as on the lender website).
Website: monthendmoney.co.uk, paydayuk.co.uk, paydayloansnow.co.uk

PaydayUK Features

Maximum loan amount: £750
First loan amount: Do not mention
Typical APR: 1845%
Finance charges: 25% per loan term

PaydayUK Eligibility

Be over 18 years old
Be employed full time
Take home more than £750 per month
Have a bank account with a valid debit card

Our Review

They are one of the most prominent among UK payday lenders. No matter where you apply, you always seem to land on their website. They have the standard payday loan deal with 25% interest to be paid per term. They may in some cases need you to send faxes. There website mostly adheres to legal guidelines.

To know more about this lender do a quick search in the consumer forums of UK and hear what people have to say about it.

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9 comments

I had a loan with these and had no issues with acceptance. However, I missed the payment date but paid by Faster Payment into their bank account. As they provided the wrong details on their own literature, it went to an account that they said they couldn't check for 3 days. During this time they restricted my account access so I couldn't log in and hounded me in all ways possible! I then changed bank accounts to a Halifax Easycash account and they said they "didn't accept customers with my sort code as they found that they have nothing but trouble with them" (according to Halifax all easycash customers have the same sort code, 11-00-01). So be warned if you are in this boat!

I just want to warn others that when Payday UK refuse you a loan they put you onto a website called the LoanCentre. This website looks as if it is a normal broker for loans but do not fill in your details. If you complete the forms online, they charge an upfront fee of £45 which they will take from your account either on the day you fill in the form or when they have done their first search of loans. You have to look hard to find the small print which tells you all this. In addition, they charge you a recurring monthly fee irrespective of whether their advice is suitable or appropriate. The Loan Centre operates at less than a fair level but Payday UK operate what can only be described as sharp practice. I discovered the missing £45 and had to ring my bank to query it. .

had money within 4 hours of application and service was very easy to use.

They are actually MEM Consumer Finance LTD, not MEMCAP or MEM finance.

Yes they do operate under different branding, but are transparent about the holding comopany in all the instances I've seen.

No, they don't appear to be brokers for payday express, I suspect the application form you used guest #4 WAS a broker who then directed you to payday express.

No I don't work for them, but have used their service.

My experience with them was pretty smooth, they did what they said, charged what they said (which seems to be in line with the market as a whole). Allow rollover - just paying the interest, although as James stated, they do actually SUGGEST and give good reason for you to try to reduce the capital too. My only real niggle, would be that they don't seem to offer transfers via the faster payment system, so your BACS transfer will take 3 days.

I'd use them again if I needy some short term cash, and my bank continues to be anal about an overdraft (or, not an overdraft!)

Have used these many times. Company is a bit naughty in that the advertise under many different names (eg monthendmoney / paydayuk) but they're fine. Competent staff and money transferred when they say. Also, when you roll over they give you the option to pay off a bit each month, so they actual promote you paying off the balance. You don't have to (can just pay interest) but it's good to see a least some effort made.

I have used this company over and over again and can say they are possibly the best out of all Ive tried......no hassles and money in my account the next day, no need to send bank statements either!! They are recognised as paydayuk but the company behind it is called MEMCAP. Would definately recommend!! :D

No they are MEM finance.

Don't trust the, they are brokers for payday express

yes I have found this too - had a loan some time ago with them and were fine but have recently tried to get one off them again and I just keep getting redirected to payday express website instead - do not seem to be a direct lender anymore.