Wonga is a digital finance company based in London. We launched our
first website in 2007 and rapidly became one of the world’s most
innovative credit providers.
Wonga was recently named the number one company in the Sunday Times
Tech Track 100, which lists the UK’s fastest growing technology
companies, alongside a host of other award-wins for our fresh approach
to finance. We are shaking up the old world of high street banks and
traditional lenders with a range of simple, transparent and flexible
services which are currently available in the UK and South Africa.
We’re automated
Our mission is to solve occasional and short term cash flow needs for
individuals and businesses, with equally short term solutions. We do
this responsibly, using our fully automated and real-time risk
technology, which processes thousands of pieces of data to make instant
and objective lending decisions in seconds, 24/7. Our technology also
means we can offer unrivalled speed, convenience and control to our
customers.
We were the first company in the world to fully automate the lending
process and approved loans are usually paid into bank accounts within
minutes. Not only do we provide our small loans in a clear and flexible
manner, but we are highly selective about the people and businesses we
help.
Despite the fact we only lend to people we believe can repay quickly
(meaning we decline around two-thirds of first-time applicants), we have
now provided millions of loans via the web and smartphones, while
achieving industry-leading low arrears rates and world-class customer
satisfaction. We regularly record Apple-beating net promoter scores
(NPS) of more than +70%, while processing billions of pieces of data
every month.
We have a consumer credit licence from the Office of Fair Trading and
are members of the Finance and Leasing Association. You can also read
our code of practice, which spells out exactly how we operate and how
consumers can be expect to be treated. We’re also committed to the FLA
Lending Code and the Good Practice Customer Charter for short-term
lenders.
We’re different
We are transforming financial services for a new generation, by
providing services without the long waits, complexity and rigidity that
people and small businesses traditionally face whenever they need to
borrow some cash.
There’s no paperwork, meetings with bank managers or hanging on the
phone because all of our services are digital and real-time. We also
allow applicants to choose exactly how much cash they want to borrow and
for how many days or weeks they need it for. Our customers aren’t
forced to borrow a fixed sum they might not need, or pay interest for
any longer than necessary, with fee-free early repayment available at
any time.
We’re responsible
Wonga offers consumers short term loans of up to a month and Wonga
for Business loans are available for up to a year. We are completely
transparent about the total cost of repayment and we make money when our
customers repay us quickly, not by continually extending a growing line
of credit. Like all companies we make the odd mistake, but we are
serious about our commitment to responsible lending and try to put
customers at the heart of what we do. So please read our code of
practice for a guide to our operating principles.
How Wonga works
Applying for a Wonga loan is simple. There’s no nightmare paperwork
to tackle, documents to fax or cheesy hold music to endure, because our
unique service is online from start to finish. Use our sliders to decide
exactly how much cash you want to borrow and how many days you need it
for. We’ll show you the full cost of repayment and, once you’re happy
with everything, click apply. We’ll then ask for some personal
details and banking information for our super-fast credit check.
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On your chosen date we collect a single payment from your debit card, so you just need to ensure the required funds are available in the associated bank account |
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You can initially request any amount up to £400. Should you choose to use Wonga more than once - and providing you use the service responsibly - we may increase your Wonga trust rating, giving you more borrowing flexibility in the future |
In case you’re nonetheless sensation a little foggy, there’s even more data underneath or even take a look at our FAQ webpage intended for solutions to the majority unique issues.
Short-term credit
Most of us don’t need to preserve people with debt. Which will appear humorous coming from just about any lender, but Wonga delivers short term installment loans for a couple times or even days. We’ll simply lend people dollars for approximately 30 days therefore you tend to be generally liberal to make a beginning reimbursement and lower your expenses, without disguised . fees. As opposed to a few loan companies, many of us won’t preserve going balance forever or even encourage you to make bare minimum monthly payments. Thus you need to consider with great care prior to deciding to use, because many of us expect you to pay off you whenever you promise to be able to.
Transparency
Most of us will probably generally inform you just what the entire cost of reimbursement is going to be in advance. You will find not any grabs or even added charges to be able to be worried about, providing you remain faithful to the facet of the cope. Our services incorporates a Representative INTEREST RATES of 4214%, but bear in mind which INTEREST RATES is usually a way of measuring once-a-year fascination and takes on theoretical compounding. The Wonga personal loan should be only intended for involving at some point and also a 30 days and also the shorter (and reduce cost) our lending options become, the higher the INTEREST RATES becomes! Most of us additionally exhibit some sort of rep case in point of the price of that loan to indicate a clear malfunction of fascination and fees and exactly how that's showed just as one INTEREST RATES or even once-a-year pace. Most notable facts is our £5. 50 sign fee which aids handle the price of our super-fast money put in method. All of this facts is furnished in order to decide the price prior to deciding to use.
Malfunction to be able to remain faithful to the facet of the cope
Sizzling hot charges will probably bracket outside of our primary calculations is when you don’t keep your promise. In other words, when you consult you to vary your selected reimbursement day or even don’t make sure adequate finances are for sale for intelligent selection. In case our early morning selection test is decreased by your bank – since you haven’t ensured adequate finances are offered – many of us will perform our better to speak to people. Most of us generally look for to be aware of just about any issues and solve the problem which morning but, in case many of us nonetheless haven’t obtained whole reimbursement simply by 5pm, you might incur some sort of £20 have missed settlement fee in direction of the price of some sort of been unsuccessful selection.
In case many of us cannot acquire the cash your debt is you via 5am within the morning you have decided to settle many of us can make even more tries to get the cash your debt is you possibly in a settlement or even in several portions from the greeting card over a constant basis prior to the quantity your debt is you is reimbursed and our specialized selections workforce may also preserve attempting to speak to you to focus on the problem. In case your circumstances include improved significantly, they may complete their full capacity to provide a solution and arrive at a good arrangement which makes it possible to get back in your ft, that is generally our aim.
Most of us don’t rely on smacking people together with numerous costs, such as a lot of conventional loan companies will probably, but fascination will probably still accumulate in your harmony for approximately 62 times in case many of us can’t accomplish a good arrangement in the meantime. And if people don’t assist you and many of us can’t heal the cash over the reasonable interval, the consideration can be transferred to an outer partner.
Ongoing inability to settle that loan may also imply credit research companies (CRAs) will probably record the exceptional debt. These details can be furnished to be able to additional firms simply by CRAs and scam defense companies to do comparable assessments and also to trace the location and heal bad debts you are obligated to repay. Records remain on register for half a dozen years when they tend to be shut, no matter if satisfied simply by people or even defaulted. Ultimately, the Wonga trust rating is going to be afflicted therefore you likely won’t be able to access via you once more when you were being to be able to need to have our services sometime soon.
None of such things tend to be well worth jeopardizing when you have uncertainties more than no matter if it is possible to settle that loan perfectly. In case that’s the way it is, you need to don’t use initially. Most of us use merit earning technological innovation and every one of the community info we can easily find our mitts to create the most effective loaning options doable, but many of us additionally need you to find the considerable characteristics of the motivation previous to using.
Short-term credit
Most of us don’t need to preserve people with debt. Which will appear humorous coming from just about any lender, but Wonga delivers short term installment loans for a couple times or even days. We’ll simply lend people dollars for approximately 30 days therefore you tend to be generally liberal to make a beginning reimbursement and lower your expenses, without disguised . fees. As opposed to a few loan companies, many of us won’t preserve going balance forever or even encourage you to make bare minimum monthly payments. Thus you need to consider with great care prior to deciding to use, because many of us expect you to pay off you whenever you promise to be able to.
Transparency
Most of us will probably generally inform you just what the entire cost of reimbursement is going to be in advance. You will find not any grabs or even added charges to be able to be worried about, providing you remain faithful to the facet of the cope. Our services incorporates a Representative INTEREST RATES of 4214%, but bear in mind which INTEREST RATES is usually a way of measuring once-a-year fascination and takes on theoretical compounding. The Wonga personal loan should be only intended for involving at some point and also a 30 days and also the shorter (and reduce cost) our lending options become, the higher the INTEREST RATES becomes! Most of us additionally exhibit some sort of rep case in point of the price of that loan to indicate a clear malfunction of fascination and fees and exactly how that's showed just as one INTEREST RATES or even once-a-year pace. Most notable facts is our £5. 50 sign fee which aids handle the price of our super-fast money put in method. All of this facts is furnished in order to decide the price prior to deciding to use.
Malfunction to be able to remain faithful to the facet of the cope
Sizzling hot charges will probably bracket outside of our primary calculations is when you don’t keep your promise. In other words, when you consult you to vary your selected reimbursement day or even don’t make sure adequate finances are for sale for intelligent selection. In case our early morning selection test is decreased by your bank – since you haven’t ensured adequate finances are offered – many of us will perform our better to speak to people. Most of us generally look for to be aware of just about any issues and solve the problem which morning but, in case many of us nonetheless haven’t obtained whole reimbursement simply by 5pm, you might incur some sort of £20 have missed settlement fee in direction of the price of some sort of been unsuccessful selection.
In case many of us cannot acquire the cash your debt is you via 5am within the morning you have decided to settle many of us can make even more tries to get the cash your debt is you possibly in a settlement or even in several portions from the greeting card over a constant basis prior to the quantity your debt is you is reimbursed and our specialized selections workforce may also preserve attempting to speak to you to focus on the problem. In case your circumstances include improved significantly, they may complete their full capacity to provide a solution and arrive at a good arrangement which makes it possible to get back in your ft, that is generally our aim.
Most of us don’t rely on smacking people together with numerous costs, such as a lot of conventional loan companies will probably, but fascination will probably still accumulate in your harmony for approximately 62 times in case many of us can’t accomplish a good arrangement in the meantime. And if people don’t assist you and many of us can’t heal the cash over the reasonable interval, the consideration can be transferred to an outer partner.
Ongoing inability to settle that loan may also imply credit research companies (CRAs) will probably record the exceptional debt. These details can be furnished to be able to additional firms simply by CRAs and scam defense companies to do comparable assessments and also to trace the location and heal bad debts you are obligated to repay. Records remain on register for half a dozen years when they tend to be shut, no matter if satisfied simply by people or even defaulted. Ultimately, the Wonga trust rating is going to be afflicted therefore you likely won’t be able to access via you once more when you were being to be able to need to have our services sometime soon.
None of such things tend to be well worth jeopardizing when you have uncertainties more than no matter if it is possible to settle that loan perfectly. In case that’s the way it is, you need to don’t use initially. Most of us use merit earning technological innovation and every one of the community info we can easily find our mitts to create the most effective loaning options doable, but many of us additionally need you to find the considerable characteristics of the motivation previous to using.
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