April 2019 Update
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Pounds to Pocket Loans | www.poundstopocket.co.uk Reviews
Pounds to Pocket was launched in 2010 to supplement the successful QuickQuid brand under the CashEuroNet UK Llc subsidiary. The initial approach was to deliver 12 month loans, but over time they’d add more flexibility from 6 months onwards. This service was innovative to what was around at launch. Back then they operated 24/7 and there was no other way that you could receive a sizeable same day loan with bad credit although there was of course a heavy price to pay. This brand progressed quickly, boosted along the way by TV ads. Competition did however mount over time and there was a notable change of control when Cash America and Enova spun off from each other.
Brand: Pounds to Pocket (aka: P2P, PoundstoPocket).
Company: CashEuroNet UK Llc (subsidiary of Enova International Inc).
Founder: Jack Daugherty.
Offers: Instalment, personal.
Opening Hours: Monday to Friday (8am-9pm), Saturday to Sunday (10am-6.30pm).
Other Projects: On Stride Financial, QuickQuid.
Address: PO Box 74347, London, EC1P 1YZ.
Phone: 0800 016 3106.
Alexa Rank (Local): #27,589.
Facebook Page: 63,000+.
£203.85 /£300 (6m with promo).
£208.08 /£300 (6m).
£899.45 /£1000 (12m with promo).
£907.40 /£1000 (12m).
Amounts: £200 to £2000 (new applicants).
Amounts: As above (when reloaning).
Amount Selections: £50 increments.
Late Payment Fee: £15.
Terms: 6 to 12 months.
*For the Pounds to Pocket discount enter 5SOC. This generates a 5% saving on your first scheduled repayment. New customers only can take advantage of this offer.
There aren’t many lenders that can offer as much as £2000 7 days a week with a bad credit rating. Any month can be selected between 6 and 12 that provides plenty of choice. 24/7 support was dropped, but they do at least operate across extensive times 7/7. As at QuickQuid, there is a Top-Ups option in place within the account for existing customers. Assuming that the request is approved then you’ll be able to access more funding whenever it is needed. P2P’s web performance is impressive, but such is the level of competition in the instalment sector that they only manage to just crack the top 10 based on Alexa traffic stats.
Pricing even with the promo applied is expensive here. The 6 month example compares well, but over a year you are paying either £899.45 or £907.40 for £1000 borrowed. They may well be considering those turned away elsewhere, but even still Likely Loans considers the same target audience and they charge just £278. A little more flexibility in the amounts would be ideal (they shift in £50s) and the late payments could be lower also. Some of the recent reviews are pretty disappointing on Trustpilot as well. Enova’s alternative solution to counter the higher costs would be the supporting brand (On Stride), but they are a little stricter on lending decisions there.
Similar Lenders Like Pounds to Pocket…
The most likened companies that are also seen as major competitors are MyJar, Satsuma Loans and Sunny. Satsuma would be the best pick on the flexibility side of things, although they are more expensive. You can choose any single month there between 3 and 12. H&T takes this to the next level across 3 to 24 months and they are also a cheaper option. If a full year is required on sizeable amounts then Likely would be a good pick who we mentioned above at £278. There is a new lender that recently launched called Juo Loans that is from the WageDayAdvance family. They’d charge £435.90 per £1000 and are also available 7/7.
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