The payday lender said it offered a ‘no credit check loan instant decision’, with short-term loans of £50 to £1,000 within 15 minutes.
It added that its loans were ‘100% secure and safe’ and explained payday loans were ‘short-term loans utilised by hard-working folk who have fast cash needs’.
The FCA strongly advised to only take out loans from consumer credit firms that had received authorisation, signposting consumers to the Financial Services Register and Consumer Credit Interim Permission register to check if firms were regulated.
If a firm is not authorised by the FCA and a consumer is caught out by wrongdoing, they will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme.
The FCA has cracked down heavily on payday lenders in the last year and the findings of its thematic review in March revealed that lenders were continuing to fail vulnerable customers.
Its findings, which covered 60% of the payday loan market from April 2014 to March 2015, accused lenders of continuing to exacerbate stressful situations for vulnerable customers who have fallen behind in repayments.
