Our commitment to responsible lending

Our service is designed to put you in control of your cash flow, for those occasional times when an unexpected expense catches you by surprise. Below we explain why Wonga is different to old school lenders, or you can watch an interview about responsible lending with our founder and CEO, or feel free to download the Wonga Code of Practice, which spells out exactly how you can expect to be treated when using our service. We’re also committed to the FLA Lending Code and the Good Practice Customer Charter and addendum for short-term lenders.

Flexible loan

Unlike most lenders, we enable you to choose exactly how much money you want to borrow - down to the last pound - and for exactly how many days. We don't force you to borrow a fixed sum you might not need, nor do you accrue interest for longer than necessary. The amount you apply for and the length of the loan naturally affect the cost of repayment too, so you can make adjustments until you're happy with all elements of your application.

Short-term cash

In contrast to a credit card or overdraft, you must commit to settling your Wonga loan quickly. You can then use our service again next time you need short-term cash. We make money when you repay us on time, not by continually extending a growing line of credit to you. Wonga doesn't endlessly roll your balance from month to month and we will only approve limited extensions when we feel it is in your best interest.

Transparent service

We calculate the total amount repayable upfront, showing you the figures clearly before you apply. We include the interest and the full cost to ensure it's crystal clear, plus we never change the rate we charge. The only way costs can increase is if you fail to honour the agreement.

Credit check

Wonga is not a typical internet lender because there's no need to fax documents or hang about on the phone. Application and payment is entirely online because we have a sophisticated credit reference system. Our technology enables us to assess applications in seconds and helps to ensure we only lend to people whom we believe are able to repay us - we simply aren't interested in lending to anyone who isn't.

Trust

We place emphasis on building a responsible and trusting relationship with you. So unlike some websites, we won't wave silly amounts of cash in your face to gain your custom. First-time visitors can initially apply for up to £400 and, after repaying your first loan, we may gradually increase your Wonga trust rating.

As you repay our trust, you may enjoy improved flexibility to apply for more in the future if need be. Your maximum credit limit at any one time is determined by lots of different factors we take into account and you'll see the cash amount slider change accordingly when you log in. Our biggest loan is £1,000, an amount only available to customers who have shown completely responsible use of the service over a significant period of time.

Guidance

Our website provides a financial service plus some clear guidance about using it responsibly. We urge you to think carefully before applying for a Wonga loan, because we expect it to be repaid when you promise to. We describe the potential consequences of failing to do so (How to Wonga or FAQs), plus offer tips for anyone already struggling with debt (including useful links to organisations like the Citizens Advice Bureau).

FLA

Wonga is a member of the Finance and Leasing Association (FLA) and we abide by its Lending Code. Should any customer make a complaint about our service, we will endeavour to resolve it within 48 hours, but if the complainant is not satisfied they can contact the FLA and request a conciliation procedure.

Cost

Wonga is not the cheapest way to borrow money, but we are the fastest, most convenient and most flexible lender in the UK. It's a bit like using a taxi to get around - it's not economical if you use one too frequently, but paying a premium for speed, convenience and flexibility in the short term makes perfect sense from time to time.

Are you committed to responsible borrowing?

Applying for any form of credit isn't a decision to be taken lightly. Please remember that if your Wonga application is approved, it becomes a two-way street and you'll need to keep a serious promise. We want our relationship to be a happy and trusting one, so we lay out the facts as clearly as possible. Only you can decide whether to apply or not, however, so please only do so if you're confident you'll have the funds to comfortably make repayment on your chosen date.