WageDayAdvance Login @ www.wagedayadvance.co.uk
WageDayAdvance (mostly searched for as Wage Day Advance) has been famed as one of the most highly profitable payday lenders over the years. This is a niche that they still target today, although they are now more structured as an instalment service. The history of WDA as they are commonly known takes us back to the year 2004 that highlights the valuable experience held. The founder was Dale Chapman who was tempted to sell up the venture in 2013 to America’s Curo Financial Technologies Corp who most people will know through the Speedy Cash division. Their local chain has been downsized, but on the global stage Curo has over 400 shops operating through various brand names.
To run through the service specs, they have a complete 1 to 6 month term range, but these are broken down into 2 products. The smaller one delivers 1, 2 and 3 month options whereby £80 to £500 can be picked out on initial applications. The reloan cap is then £750. We then have the Advance Plus Loan that caters 4, 5 and 6 months. The amounts here differ as £100 to £500 with reloans extending to £1000. The pricing structure is interesting here. Unlike the usual £24 they drop to £22.40. With instalments, it makes a lot of sense to go with their max term. The difference of £300 at 3 and 6 months is £211.20 against £253.99.
WDA is one of the top challenger brands. When all loan companies were compared they ranked as the 4th most visited payday lender and 8th for instalments. For simple monthly terms they may find it difficult to surpass Wonga and even SafetyNet who each continue to make waves through their instant services. QuickQuid who ranked 2nd may be within reach. The problem is that they spend considerable amounts on TV ads and they have great search rankings. For longer term targeting, they’ll be intent on catching MyJar and Satsuma. They interestingly ranked a spot ahead of Pounds to Pocket who are another big force. This suggests that the owner has been doing a good job since the takeover.
A WageDayAdvance login facility was eventually added at www.wagedayadvance.co.uk, but they were late to the party in adding a portal. Once logged in here the option is there to make payments (full if you’d prefer to settle up and save on interest). The added flexibility is a big plus point here as well as their high approval rates. Another feature of note is that they are open for business 7 days a week. Wage Day’s opening hours are Monday to Friday (8am/8pm), Saturday (9am/5pm) and Sunday (10am/4pm). For reference, their transfers are processed hourly starting 1 hour after they open. There is however a final payment made at 11.55pm every day.
Market Share Ranking 2017…
WageDayAdvance Online Loans Login Rank: #13
Niche: Payday (#4), Instalment (#8)