Payday Power

Company Background

Payday Power is a trading name of Reset Finance.

Payday Power provides online short term loans which can be paid in to your bank account within 1 hour.

Website overview

At the top of the Payday Power homepage there is tabs that contain further information that you may not be able to find on the homepage itself.  You will find tabs containing information such as ‘How it Works’ and ‘FAQs’.

The Payday Power homepage contains a variety of information and imagery on the service provided. You will find representative examples, information on how to apply and much more!

There is also a helpful ‘Loan Calculator’ tool that can be found on the homepage.  The Loan Calculator instantly works out your total repayment on a loan. All you need to do is select the total you would like to borrow and the total repayment is immediately displayed.



To apply for a loan with Payday Power you will need to click on any ‘Apply Now’ box or link throughout the website. This will direct you onto an application form where you will be required to provide personal and home details.

Loan Requirements

To be eligible for a loan with Payday Power you must meet the following requirements:
•    Be aged over 18 years
•    Be in full time, part time, temporary or contractual employment
•    Reside within the UK
•    Have a bank account with a valid debit card
•    Be paid into your bank account via direct debit
•    Earn a salary of at least £500 (take home) per month

Loan extension

Payday Power does offer loan extensions (loan deferrals).  After you defer your payment twice, Payday Power will ask you to start paying off some of your balance. Your loan account will still incur interest charges if you choose to defer your payments.  The interest will be charged at the fixed rate with no additional charges.

Charges and Fees

Payday Power charge £25 interest for every £100 borrowed.

Payday Power does not charge any additional costs to your loan.

Summary

•    Apply for a loan at
•    Minimum loan amount is £80
•    Maximum loan amount is £1,250
•    Fee for same day funds is £0
•    Option is available to pay back early


Contact details and company information

Mail Address
PO Box 57684, London. NW7 0GD

Registered Company Address
Payday Power, Athene House, 86 The Broadway, Mill Hill, London, NW7 3TD

Company number
05038828

Consumer Credit Licence Number
618139