Weekend Payday Loans: What Are They and How to Apply

Published: 21/02/2017 and written by R Rosen

Weekend Payday Loans: What Are They and How to Apply

Although the working week is over for many people, financial emergencies can still happen. Whether you have an unexpected or forgotten bill to pay, or an emergency car repair – a payday loan could be the most convenient solution to your last minute financial needs. Lenders understand that sometimes customers simply cannot wait until Monday for the funds to arrive in their account. You may also find you can’t apply through the week due to work or other commitments. Weekend payday loans can be the ideal solution for many borrowers.

Weekend Payday Loans

What are weekend payday loans?

Weekend payday loans are a form of short term credit available to borrowers outside of the working week. People in need of a loan can submit an application on the weekend, and they will usually receive funding the same day.

Not all short term loan providers will be open on the weekends, but a growing number of lenders are making changes to satisfy a growing demand – such as opening seven days a week. Some lenders will also open on bank holidays, but always check with the lender before submitting an application to avoid disappointment.

Processing times for weekend payday loans

As with all payday loans, the speed at which the funds will be deposited ultimately depends on your bank. The lender could process the transaction immediately, but if the bank have slow weekend processing times, it could take slightly longer for the funds to arrive.

If you are in need of immediate cash to get by, it could be worth contacting your bank to find out what their processing times are – this will then help to decide whether it is worth applying immediately, or waiting until the weekend is over.

Applying for a weekend payday loan

To apply for a weekend payday loan, you will likely need to be over the age of 18 and a UK resident. You will also likely need a bank account for the funds to be deposited into, and sometimes you will be required to earn a minimum monthly wage. Applications can usually be submitted online or by telephone. Some lenders have an app which you can also apply through.

Once the application form has been submitted, the lender will contact you to let you know if you have been accepted or not. You can then expect the funds to be available shortly after. However this will usually be dependent on your bank and how quickly they can process the transaction.

Weekend payday loans

The demand for weekend payday loans is a growing one – which is why more and more direct lenders are now accepting and funding successful applications over the weekend. Payday loans can be a quick way to get cash to see you through to the end of the month – regardless of the day of the week.