What are payday loans?

Payday loans are small cash loans designed to give users access to cash when you need it quickly. Our payday loans are repayable on your next payday – up to 31 days away. It is an easy way to borrow money for those who don't want a formal and lengthy loan agreement with a bank and haven't got time to wait around for high street lenders to go through their protracted application procedures.

What are instant payday loans?

Instant payday loans are loans from lenders who give an immediate decision. At Top Hat Money we give you a decision in seconds, and once approved we aim to get money to you as quickly as possible, usually within half an hour. Our instant payday loans, as with normal payday loans, are repayable on your next payday – up to 31 days away.

Amount you Borrow — £
Amount you pay* — £
Representative APR 2120% (Variable)

£100

£1000

* Repaid on your next payday

Applying for a loans

With Top Hat Money applying for a loan couldn't be simpler. It's all done online so you don't need to give your details to anyone or make any long phone calls, and there's no mountain of supporting paperwork to fill in and post back.

Simply fill in the online application form, get an immediate response and, when successful, check your bank account for your money.

How to apply for instant payday loans

To apply for a loan right now simply complete our payday loans application form, we'll do our best to approve your application right away, then simply receive your money.

What's needed to get a loan?

To get one of our loans all you need is to be 18 and over and have a regular income into an active bank account with a debit card. It's as simple as that.

How long will my loan application take?

Completing the payday loans application form should not take more than about 2 minutes.

You should receive an immediate response.

Once approved your money can be directly cleared into your bank account within minutes.

Do I have to send in any documents?

In most cases we should be able to approve your application without needing to see any additional paperwork. Very rarely we may require some supporting documents from you to fully process your loan application.

How much can I borrow?

New customers can request up to £1000. Once you are an existing customer we'll be able to increase the size of loan you can request to give you that extra flexibility to meet your short term cash needs.

Do I need to fill in an application form every time I need a payday loan?

No, once you are an existing customer, and you have shown you understand how to use the system responsibly, you won't have to fill in an application every time you need an advance. However from time to time we may ask you for supporting documentation.

I have a CCJ - can I still qualify for a payday loan?

Absolutely. To qualify you only need to satisfy us that you will have enough money on your next payday to repay your loan.

How is a decision made if you don't use credit testing?

Top Hat Money is committed to lending responsibly, we don't want to put people into debt by lending them money that they can't afford to repay. Payday loans are short term cash loans that are there to help you manage your cashflow and cover unexpected expenses. There are strict criteria in place which we must meet to ensure we only lend to people we can be sure can afford both their existing commitments and the additional commitment of a payday loan based on the information applicants provide.

Why do I need to supply bank details before a decision is even made?

We request your bank details while we are collecting your other information primarily for identification purposes. For your safety and ours we never deal with anyone if there is any question about their identity.

Why do I need to provide so many details before a decision is even made?

For your safety and ours we never deal with anyone if there is any question about their identity. Top Hat Money is registered with the Data Protection Registrar and holds a Consumer Credit Licence (645219). In the UK a consumer credit licence, issued by the Office of Fair Trading (OFT), is required by any company before it can offer payday loans. You should check that any company you apply to for any type of loans has a Consumer Credit Licence and their registration number is clearly displayed on their website. You can check the details of a CCL at the Consumer Credit Register.

Any website operating without displaying a Consumer Credit Licence or displaying someone elses Consumer Credit Licence on which they are not named are basically just loan sharks, they can change their charges and therefore what you owe without warning, they can sell your data, they have your address and can use whatever means they wish to make you pay up any time they like. They may have had a CCL and had it taken away, they may have applied for a CCL and been refused or they may just have not bothered applying for one even though it's against the law to provide loans or act as a broker for loans without one.

We use the information you provide to be absolutely sure we are dealing with the correctly identified person.

Successful Payday Loan Applications

What can payday loans be used for?

Anything.

How do I receive my money?

Your money is transmitted electronically using the Fast Track service and will be cleared into your bank account within minutes.

Unsuccessful Payday Loan Applications

Responsible Lending

Top Hat Money is committed to lending responsibly, we don't want to put people into debt by lending them money that they can't afford to repay and we don't want to take advantage of people in need. For our safety and yours we never deal with anyone if there is any question about their identity. Top Hat Money is registered with the Data Protection Registrar and holds a Consumer Credit Licence (645219). In the UK a consumer credit licence, issued by the Office of Fair Trading (OFT), is required by a payday loans company before it can offer payday loans. You should check that any company you apply to for any type of loan has a Consumer Credit Licence and their registration number is clearly displayed on their website. If they are not named on the CCL they are operating illegally.

Can you give me more information about why my application was unsuccessful?

Unfortunately not. We are not permitted to give details of the selection criteria or of why applications may or may not have been successful. This is seen as 'coaching', i.e. applicants may re-apply changing some details based on the info we have given them, therefore obtaining payday loans they may not be able to afford.

Can you reconsider your decision?

Absolutely, if your circumstances change you may re-apply at any time and we may be able to provide you with a payday loan.

Repaying Your Payday Loans

Do I have to repay my loan in one go?

You should always try your best to repay your loan in full on the agreed repayment date. In some circumstances you may be permitted to refinance your loan by paying the interest and deferring repayment of the capital sum. However, this is only allowed at our discretion and is subject to an assessment of your creditworthiness in accordance with the Irresponsible Lending Guidance issued by the OFT. It is important to understand that when you defer payment of your loan in this way you are not paying anything off the loan amount, simply rolling over your full repayment until the next month and this will mean you will end up paying more.

Can I pay my loan off in instalments?

Payday loans are designed to be paid off in full on the repayment date. However, if you think you are going to have difficulty paying off the loan in full, please contact us before you repayment date and we may be able to arrange an alternative payment plan.

What if I fail to repay my loan?

It is important that you inform us as soon as you think you will not be able to repay any payday loans on time in order to initiate rolling the loan over to the following month.