National Money Store FAQs

1. How much does it cost?

We charge a nominal fee of £30 per £100 for each pay cycle. An additional fee of £15 will be charged if you opt for same day Express Cash transfer. You can alternatively choose BACS transfer, which is completely free and may take up to 3 working days. Apart from these, there are absolutely no other charges involved as long as you repay on time.

2. Am I eligible?

In order to be eligible for a loan with Lending Pounds you must: 1. Be at least 18 years of age. 2. Reside and be employed in the UK. 3. Have a valid bank account that can receive a direct deposit. 4. Have a take home monthly pay of at least £750.

3. How much can I get?

You can borrow up to £480 on your first loan. Once you pay your first loan in full, you can borrow up to £1000 for any future loans if the need ever arises.

4. When and how will I receive my cash?

There are two options for cash transfer and they have different speeds and different fees. The first, and fastest, is called Express Cash. An Express Cash transfer of funds into your account typically takes about a day. If you apply before 3.00 pm on a weekday, money will be transferred electronically into your account on the same day. In case you apply after 3.00 pm, the transfer of money will take place on the next working day. The fee for a Express Cash transfer is £15. The other, slower, option is called BACS. A BACS transfer is completely free and may take up to 3 working days to complete.

5. What if I am paid weekly?

Unfortunately, we are currently providing loans to customers who are paid monthly. Please do keep checking our website as we intend to revisit this condition shortly.

6. What if I fail to repay the loan on the due date?

We understand that, at times, you might find it difficult to make the required payment on time. So, it is essential that you notify us in advance about your inability to make the payment. This is to ensure that your account doesn't fall into the collections process, in which case you would incur an additional 40 GBP fee (this is to pay for the additional work that the collections process requires).