How your Wonga loan works

Key Facts and Information


Is a loan right for me?

We’re here to ease your short term, urgent cash flow needs. So, if you’re short of cash due to an unexpected bill, emergency or opportunity you can’t miss, we could help. We know life doesn’t always go to plan, so we’ve made our service as flexible as possible:

Choose how much,
for how long

Apply online
anytime 24/7


See the full
cost upfront

Only pay interest for
the days you borrow


You should always think carefully before committing to any form of credit.


If you don’t repay on time:

You’ll be charged a £30 missed payment fee. We may report this to credit reference agencies. This may affect your credit rating and your ability to get credit from us or other lenders in the future. It may also make getting credit more expensive in the future.


There are a number of things to consider before taking a loan with us

Our loans are intended for occasional use only

You shouldn’t use our service to manage existing debt or if you’re already feeling the strain financially

Our loans must be repaid within weeks

Our service isn’t designed for long term borrowing and isn’t always the cheapest option


As a responsible lender, we:

Assess every application on an individual basis


Assess all applications carefully and only offer loans to people we think can afford to pay them back and never guarantee approval

Consider up to 8,000 pieces of data and perform credit checks to make fast, accurate decisions


Make sure our customer care team can’t see reasons behind our decisions, for your security.


We don’t lend to everyone. You must be:

A UK resident

Over 18

A bank account holder (with debit card)

A mobile phone owner


When it comes to repaying, you don’t have to lift a finger. Just make sure you have enough money in your account by 5am on your due date. We’ll automatically try to collect repayments from your primary debit card or, if you’ve registered other cards with us, the most recently registered. Find out more about how we collect payments.

If your application is approved, 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. So if you’re not sure you can afford a loan, or comfortably repay on your chosen date, please get advice before making a decision.


What does it cost?

  Costs Description
Interest Rate 1% per day
(simple interest)
Calculated at the end of every day, calculated on your interest bearing balance that day
Transmission Fee £5.50 Added to loan amount requested so will accrue interest. This fee also applies to new loan top ups
Extension Fee £10.00 Charged if we accept your application to change your promise date and will accrue interest
Late Payment Fee £30 Charged at 5pm on your promise date if you miss your payment and added to your outstanding balance

Representative example:

Amount of credit: £150 for 18 days.
Interest: £27.99.
Interest rate: 365%pa (fixed).
Transmission fee: £5.50.
One total repayment of: £183.49.
Representative 5853% APR.


Adding additional credit

If your original loan was £200 for 20 days and you applied for an extra £50 week before your promise date, your total to repay will change from £246.60 to £305.99. This includes the extra £50 you borrowed, a £5.50 transmission fee and £3.89 interest.

Changing your repayment date

If you took out a £200 loan for 20 days but after 15 days decided to extend it for a week, you’d have to make a partial payment of £36.33 to clear all the interest and fees accrued so far. You’d then have to pay £235.20 on your new repayment date rather than the original £246.60 on your original promise date.


How do I apply?

Applying for a loan is straight forward

With our loans, you’re in control. Use our online sliders to decide exactly how much you want to borrow (up to £400 for first time customers) and for exactly how long (up to 30 days). We’ll show you the full cost upfront too, with no catches or hidden fees.


Wonga anywhere anytime

You can access our website on PC and mobile anytime, 24/7, as well as our Apple and Android app.


We want to know more about your current circumstances so we need some up to date personal information. This includes your address, employment status and new account details. We consider up to 8,000 pieces of data for each application and the information you enter helps us make an objective, accurate decision later on.


We need you to make sure a loan is right for you.
Before you decide whether you’re happy to go ahead, we’ll give you 3 documents:

  • A loan explanation showing how our service works and things you need to know
  • A key information table which highlights all the key facts
  • Our standard terms and conditions

You should read this carefully and only continue if you’re happy the loan suits your needs.


If approved, we’ll send the cash within 5 minutes. To do this, we need your financial details. We also make repaying as easy for you as possible, as we automatically collect repayment from the debit card you register with us. Please make sure you read the How We Collect Repayments document. It explains how we collect repayment from your card on your promise date and, if necessary, after your promise date if there’s still an outstanding balance. It also explains your rights to cancel card payments.


Our pioneering decision–making system is 100% online so we’ll give you an onscreen decision.
Depending on the information you gave us, you’ll get 1 of 3 decisions:




You’ve been approved for a loan. If you’re happy to continue. Click ‘I accept’ We’ll get the cash sent within 5 minutes.



We couldn’t give you a loan this time. This doesn’t mean we won’t in the future though, so you’re welcome to come back and apply again at a later date. We’ll show you the reasons for this decision onscreen so you can see what might have affected your application.


Sorry for the delay.

We need to check a few more details before making the right decision. We’ll let you know when we’ll be back in touch, which is normally within 24 hours.


If you’ve been approved for a loan, we’ll give you the loan agreement to read and sign by clicking ‘I accept’. If you’re still not sure a loan is right for you, you shouldn’t click ‘I accept’ as you’ll enter in to a formal agreement with us.


How do I get the cash?

When you’ve read and accepted the loan agreement.

We’ll send the cash within 5 minutes, 24/7, guaranteed.

We’ll email you to let you know when the cash is on its way.

It then usually takes up to 15 minutes to appear in your account. It can take longer if some banks can’t process fast cash transfers or are slow to show a payment on your account. It can also be delayed in the unlikely event we have a system issue or if our banking partners are completing maintenance. When possible, we’ll highlight this on our homepage before you apply.


Will I be able to borrow again?

Our loans aren’t intended for frequently repeated use but if you do need to use us again, it will be easier next time as we already have most of your information. To apply again, login to the ‘my account’ area of our site and fill out a short application form.

If you use our service responsibly, we may increase your trust rating. This gives you more borrowing flexibility in the future and you may be able to borrow up to £1,000.

We take a genuine interest in our customers’ financial health and consider every application on an individual basis. Our system is constantly evolving and we sometimes make adjustments to make sure we continue to lend responsibly. You won’t be guaranteed approval because you’ve used our service before.


Warning: Late repayment can cause you serious money problems. For help, go to