Answer. You can borrow between £200 to £1,000 from WorkLoan.

Answer. If your application is approved, you will have three months to pay back the loan. The loan repayments will be automatically collected from your salary in three equal amounts (also called instalments). Please remember you will have less money going into your bank account while paying off your salary advance loan. View Making loan repayments FAQs.  

Answer. No, but as a responsible lender, we will perform affordability checks. This includes looking at your bank information and recent transactions to ensure you can realistically afford the loan. We use a secure connection that gives us read-only access to your bank information called Open Banking. Agreeing to Open Banking does not affect your credit score.

Answer. To be eligible or to qualify to apply for a work loan: your employer must be signed up with us; you must have passed your current work probation period; you must be living in the UK, and you must be over 18 years of age.

Answer. During a wage loan application, we will ask for: your details, contact information and some details about your work; your payroll number; your bank account details; and your consent for us to see your financial information via Open Banking

Answer. You can only apply for a WorkLoan loan if your employer has signed up with us and we use your payroll number to check that you are currently working for them. We will not be able to match your details or approve your application if you are still in your work probation period.

Answer. You can find your payroll number on your payslip or on the top right of your P60, or you will be able to obtain this from payroll. Your payroll number can also be referred to as your work ID number, reference number or employee number.

Answer. We need your bank account details to pay in your loan (if your application is approved). We also need your bank accounts details together with your permission to view your transactions securely via Open Banking. This is to understand your financial circumstance to ensure the product we offer is right for you and affordable. View Open Banking FAQs.

Answer. There is no guarantee that your salary loan application will be approved. We need to ensure that our product is right for you first and that you can realistically afford the loan before approving your application. As a responsible lender, we have to ensure that what we offer will not leave you in a worse financial state and cause the additional stress of missed payments. Regardless of your application, we'll always provide you with a free personal FinFit budget report to help you understand your expenses. View FinFit budget planner FAQs.

Answer. Quite simply, interest is the cost of borrowing. It is what a lender will charge, and it is always shown as a percentage of the loan amount. Usually, when paying back a loan, you are paying back what you borrowed plus the interest over a period of time. A lender should also show the actual amount that you will need to pay every month.

Answer. APR stands for Annual Percentage Rate. It is the cost to borrow money over a year. Costs include the interest rates, plus additional fees that you will pay over a year. It is always shown as a percentage. It can be a helpful way to compare lenders and products on a "like for like" basis. Bear in mind that not all loans are paid back in a year; some maybe three months or six months, while others could be several years. Be sure to check the monthly repayments you will need to make, as this will be the actual money you will need to have every month to pay back the debt.

Answer. Representative APR is an advertised rate to show the cost to borrow money over a year which applies to 51% of customers who have taken out a credit product. In other words, it is an APR that is representative of what just over half of the customers will get. Some customers may have to pay more. Representative APR is another way for you to compare lenders and products. Remember that the personal APR rate that you are given may or may not be the same as the Representative APR advertised.

Answer. Your loan documents and loan balance can be viewed by logging into your WorkLoan Account. You can also make early loan payments when you log in. If you are experiencing difficulties logging in, please contact us. Your FinFit budget report will also be saved in your WorkLoan Account. View Making loan repayments FAQs.

Answer. Yes. Whether your loan application is accepted or not, we'll provide you with a free personal budget report to help you understand your expenses. You can also get this free budget planner without applying for a loan. View FinFit budget planner FAQs.

Answer. The information we provide your employer will be necessary to fulfil our services to you. We do not discuss personal matter or details about your financial situation with your employer. We will, however, need to verify you are currently working for your employer; we usually do this using your payroll number. We may need to verify additional details, including your job title and confirm you have passed your work probation, we do this using your payroll number.  There will be information we will need to provide your employer that will relate to your loan, if your loan application is accepted. For example, we will need to collect repayments in the form of salary deductions. To do this, we have to provide the relevant department in your workplace with your payroll number and the amount we have to collect from your salary for that month. We may provide your workplace with general statistical information, for example, the number of loans taken out by their employers, average amounts, defaults and other statistical information. Such information will be provided in an anonymous form and will not identify you or any other individuals.

Answer. We collect your salary loan repayments directly from your salary via your employer. This is done automatically when your loan application is approved. Please remember you will have less money going into your bank account while you are paying back your loan, which may affect your bill payments and spending. You can log in to your account to make a manual payment or an early payment on your loan. Your account will show your loan status (including how much you still owe) and related documents. There is no fee charged for early loan repayments.  

Answer. If we cannot collect your wage advance loan repayments, we will set up a recurring payment using Open Banking. A recurring payment is similar to a standing order, and it will be set to stop once the loan is paid. We will need your permission to set up a recurring payment. You can also make manual payments by logging into your WorkLoan account, where you will also be able to view your loan balance

Answer. Yes. There's no additional cost for doing this; you can do this by logging into your WorkLoan account. You can view your loan balance and documents when logged in. Your FinFit budget report will also be saved in your WorkLoan Account. View Getting a loan FAQs.

Answer. If you change jobs, there will be no changes to the loan agreement and no additional charges. The interest rates and repayment schedule that was initially agreed will remain the same. If we cannot collect a work loan repayment from your employer, we will attempt to collect via Open Banking using recurring payments. A recurring payment is similar to a standing order, and it will be set to stop once the loan is paid. We will need your consent to setup this payment service. You can also make repayments by logging in to your WorkLoan Account using the method. We always recommend that you contact us as soon as you know you will be changing employers. You should keep up with paying back your loan. Delays can affect your credit score, and there is a £15 charge for late payments (this fee is charged once only). 

Answer. Unforeseen events can catch us all by surprise. If there has been an adverse change in your financial circumstances, or you are struggling to cover essential bills while paying off your loan, or if you think you will not be able to make the loan repayments, please contact us straight away: call: 0203 7517537 (Our offices are open Monday to Friday 9am to 5pm); or email: hello@workloan.co.uk

Answer. Paying off a personal loan and other forms of debt on time helps improve your credit score; there are other factors that contribute to your score. Delayed payments or simply not paying off debt can show on your credit history for up to six years and affect your credit score. A low credit rating will likely make it more difficult for you to be accepted for credit by UK lenders. Please note there is a £15 charge for late payments (this fee is charged once only). If you have a loan with us, and you are struggling financially, or you think you will not be able to make your salary advance loan payments on time, please contact us straight away: call: 0203 7517537 (Our offices are open Monday to Friday 9am to 5pm); or email: hello@workloan.co.uk

Answer. Yes, as long as your employer is signed up with us, you are living in the UK, and you are over 18 years of age. You will also need to agree to Open Banking - so we can view your financial information and categorise your expenses. You will get a personalised budget calculator to help you save money: 1. When you apply for a WorkLoan loan (whether your loan application was successful or not) or, 2. you can apply for your FinFit budget planner separately. View Getting a loan FAQs.

Answer. To get your personal budget calculator, we will ask for your details, contact information, and details about your work. We will also ask for your payroll number to check you work for an employer who is signed up with us. And finally, we will need your bank account details and your permission to see your transactions via Open Banking. View Open Banking FAQs.

Answer. There is no cost; however, your employer must be signed up with us.

Answer. Firstly, we are legally required to ask you for permission to view your financial details via Open Banking. You can also withdraw our access when you want. Secondly, our read-only access will allow us to see and automatically categorise your transactions to form a personalised budget report to help you see where you can potentially save more money.

Answer. The FinFit budget report will total up your transactions (income and outgoings) and show these in categories; this is so you can quickly see your primary areas of spend. It will also help identify areas where you may be able to cut back. Where national statistics are available, it will show how your spending compares with others.

Answer. Understanding and controlling costs is one way to save. And having savings to hand can help with difficult situations that may arise in future. Our FinFit budget report will automatically categorise your transactions and present all your expenses graphically, so you can quickly see where you can save.

Answer. Once you have applied for your FinFit budget planner, you can view it by logging into your WorkLoan account. If you applied for a loan, you can also view your loan balance and documents in your WorkLoan account.

Answer. With Open Banking read only access we will be to see your bank account transactions, this includes your debit card associated with your bank account. If you use a card that is not directly connected to or associated with your bank account, for example, an American Express credit card or a prepaid card, we will not be able to categorise each of those card transactions. We will, however, be able to tell you how much you spend on you credit card monthly, based on your credit card payments, or how much you load onto a prepaid card.

Answer. Open Banking is a secure link that allows a third party to view your financial information, such as banking information and transactions. However, this connection can only be made with your permission. Some banks may not offer this service.

Answer. Open Banking will allow us to see your transactions, categorise them and show you where your money is going, and if you are applying for a loan it allows us to see it if you can afford it. We partner with Yapily, who provide Open Banking services. To use Open Banking, your permission is required; this is a legal requirement. You can withdraw our Open Banking access at any time.

Answer. We use Open Banking if you apply for a FinFit budget report or a salary advance loan and for the following reasons: 1. We are a responsible lender. Open Banking will help us understand your financial circumstances better. We have to make sure we help in the right way and in your best interest. Sometimes that means our loan may not be the right product for your current situation. 2. To affordability checks before approving a loan. Open Banking helps make sure loan repayments are realistic and affordable. 3. We don't want to keep you waiting. Open Banking will help us make a faster decision on your behalf by cutting out paperwork and manual checks. 4. We are committed to fraud prevention. Open Banking confirms that you are a real person (not a fake or fraudulent application) and enhances our identity checks. We will also run an Anti-Money laundering check prior to approving a customer. 5. We want to provide you with accurate and up-to-date information. Open Banking does this. For our FinFit budget reports to work, we need Open Banking to categorise all your current income and expenses. Once this is done, you can quickly assess where your money is being spent and where you can cut back.

Answer.  No. Open Banking gives us read-only access. Using this information, we can categorise your spending and create your budget report. If you decide to get a loan with us, we will use Open Banking to perform affordability checks.  We can set up recurring payments using Open Banking; however, we must have your permission first, and we would only request this where we cannot collect a loan repayment from your employer. Payments automatically stop as soon as the loan is paid. The same system is used when you want to make early repayments

Answer. We will not be able to see your online banking login details or password; during the application, you'll be redirected to a secure Open Banking page belonging to your bank, where you'll enter these details, and your bank will verify it is you. You can remove our read access at any time.

Answer. Agreeing to or giving your consent to Open Banking will not affect your credit score.

Answer. Open Banking is a regulated service, which means we must comply with Open Banking rules and meet security requirements. We use technology with 256-bit encryption; this is the same protection used by UK banks for internet banking. This secure connection and you can stop our access at any time. We will not get access to your password or login details; neither will we ask for this. We cannot take money from your account without your knowledge. We can set up recurring payments using Open Banking; however, we must have your permission first. Additionally, we would only request this where we cannot collect a loan repayment via salary deductions. The same system is used when you want to make early repayments

Answer. If you don't bank online or use mobile banking, we cannot use Open Banking to connect to your account. To give us consent to Open Banking, you will need to first set up online banking with your bank account provider.

Answer. Our offices are open Monday to Friday, 9 am to 5 pm, you can call us on 0203 7517537 (standard UK landline rates apply). Or you can write to us by email: hello@workloan.co.uk, or by mail 14th Floor, 33 Cavendish Square, London, W1G 0PW, United Kingdom. You can also contact us via our secure online contact form.

Answer. If your employer is not signed with us, you can request that we contact your employer to see if they would like to sign up for our services. To find out if your employer has signed up for our services, check the first field of our application form. Please note that we won't be able to offer you our FinFit budget report or our salary advance services if your employer has not signed up with us.

Answer. A responsible lender looks after your best interests first. A responsible lender will only approve a loan application if it knows the loan repayments are realistic or affordable and will not put the borrower in a worse financial state. A responsible lender will always be transparent and honest with its customers. 

Answer. Yes, we are a responsible lender. This means before agreeing to provide a salary backed loan, we will perform affordability checks to ensure the product is suitable for you. We want to make sure it will not harm you financially, that the repayments are realistic and the product is right for you current situation.

Answer. Yes. If your loan application is successful, we will lend directly to you; there is no middleman or broker to deal with.

Answer. Yes, we are authorised and regulated by the Financial Conduct Authority (FCA) under registration number 673428. You should only borrow money from a lender who is authorised and regulated by the FCA.

Answer. If you have become unhappy with our services or wish to log a complaint, please contact us, and we will do our best to put things right. You can tell us about your complaint by: Writing to: 14th Floor, 33 Cavendish Square, London, W1G 0PW, United Kingdom; Calling: 0203 7517537 (standard UK landline rates apply); Emailing: complaints@workloan.co.uk. Please provide us with your full name, address, telephone number, email address and the reason for your complaint. Kindly note: we are open 9 am to 5 pm Monday to Friday (we are closed on weekends and bank holidays). You can also view our complaints procedure on our complaints page for more information.