No credit check loans

Can I get a payday loan with no credit check?

All lenders, from payday loan providers to mortgage lenders, are required by law to carry out credit checks. So, legally, short-term loans with no credit checks simply don’t exist. Responsible lending involves checking credit reports to ensure customers are in a comfortable position to pay back the money owed.

When you apply for one of our short-term loans at Moneyboat, we carry out thorough credit and affordable checks. We also take additional factors into consideration. Our smart approval, which can include Open Banking, allows us to make more accurate lending decisions. So, if even you have a less-than-ideal credit history, we may still be able to help.

Our payday loans are an alternative to no credit check loans. Once approved, we can help provide customers with the funds to cover unexpected costs, which can then be paid back in manageable instalments.

Is borrowing right for me?

It’s important to think carefully about taking out any type of loan. Make sure you read the terms and conditions and only borrow what you can afford. Also, remember that there are various potential options available, including:

• Borrowing from friends and family
• Asking your employer for a wage advance
• Guarantor loans

Why can’t I get a loan with no credit check from Moneyboat?

As a responsible lender, we will never offer a loan without checking your credit history and eligibility. We have a duty to all our customers to ensure that they don’t borrow money that they can’t or will struggle to pay back in a timely manner.

When you apply for a Moneyboat loan, we’ll check that you have the adequate income to repay your loan and that you don’t have a history of significant problems with debt. This is a vital part of our approval process. You can find more information in our guide on how applying for a loan can affect your credit score.

What’s the alternative to no credit check loans?

If you're looking for a loan but you have a poor credit rating, we understand that it can be challenging. As mentioned above, Moneyboat is a lender which operates legally with authorisation from the Financial Conduct Authority. Therefore, we’re required to conduct credit checks before approving any loans to ensure that vulnerable individuals are protected from taking on debt they can't afford. This can help prevent people from getting caught in a destructive cycle of borrowing.

We offer loans to new customers ranging from £200 to £800, with repayment over a minimum of two instalments, up to a maximum of six months. This means you won't have to repay the entire loan balance on your next payday.

For existing customers who have passed our application process and credit checks, you can borrow up to £1,500. We don't require full repayment within 60 days, and you can repay your loan early without incurring any penalties or fees within a maximum of six months.

How to apply for a 24-hour loan with Moneyboat

1. Click on the “Apply Now” button and fill in our free and easy, online application form.

2. We'll then carry out credit and affordability checks.

3. Sign and send back your loan agreement which will be sent to you via email subject to approval.

4. Receive your cash directly into your UK bank account.

Important: Moneyboat provides a flexible short-term loan.  Although these loans are widely recognised and often searched for by our customers as 'No Credit Check Loans,' our focus is on providing clear and accessible financial options that meet your needs.

Can I get free financial advice in the UK?

If you are struggling with your finances or not sure where to start, there are many options offering free advice. The below companies are authorised by the FCA and offer free financial advice:

• MoneyHelper: Government service offering free financial advice by chat, WhatsApp or phone
• National Debtline: Free and independent debt advice by phone or chat
• FinancialAdvice.co.uk: Free debt advice by phone
• StepChange: Free debt advice by app or phone
• Shelter: Free advice on debt, housing and healthcare by phone and chat

Other resources for help with debt:

• Citizensadvice.org.uk

We’ve also pulled together a full list of free support organisations who are on hand to help, no matter your situation.

How can I make a complaint?

Please take a look at our Complaints Procedure page or contact our friendly customer support by mail or phone.

Representative Example

Based on the last working day of each month

Interest rate 288.35% pa (fixed) Representative 1,267.9% APR

Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.

*Our guide to financial promotions: https://www.moneyboat.co.uk/financial-promotions-info/