2014 Lender Lists:
Options for Instant Payday Loans Online
Those that do either have sophisticated automated technology in place or the company may impose a slight delay due to underwriting, but if they are open every day then they should get round to fast approval and funding. One important point to make with each of these two scenarios is that they cover existing customers who have already joined up to a service. If you are a new to a company then a full application will have to initially be entered and there may be some initial checks that need to be ran. This really depends on the credit check that all of the most popular providers will impose at the application stage.
In regards to automated technology, Wonga is a good example to use here. When you are returning to them they throw up a single page that asks if your situation has changed in any way (contact details, wage, work etc). When bypassing this, you can apply and get a decision there and then within a few seconds. Should you accept here the cost breakdown is displayed, then the funds will be quickly sent through the Faster Payments Service within just a few hours. Wonga is also notable through their 24/7 opening times and so even first time customers can get applications checked over quickly (if this needs to be done).
MyJar is another impressive company on the technology front. Once you are signed up there, all you need to do is hit an auto-approved request button and the cash will be received as quickly as Wonga. No extra application details need to be entered and you can even make the request with an SMS message. The limitation with MyJar would be that they only offer bulky first time sums of £100 and there is a single repayment term only. They are open 7/7 days though. On the other side, lenders like MiniCredit, Peachy and Sunny are all open over the weekends, but there is likely to be some underwriting in place.
Peachy and Sunny are two of the fastest growing short term lenders on the market. This Recent Post highlighted their potential to go up against Wonga in the future. They each perform well in many areas, but if you are specifically looking for instant payday loans then MyJar and Wonga do look to be the quickest in the instant payday loans speed department. The important thing to look out for in any lender is that they are open over the weekend and that they issue FPS transfers. If they offer flexible terms then this is a an added bonus that would allow you to pay for a specific repayment period only.