Since August 2018, Wonga has stopped providing payday loans. There was an administration collapse in Wonga in the month of August 2018, and after that collapse, the company is no longer providing loans. If you are looking for loans like Wonga here, you are at the right place because I am going to overview some of the alternative platforms to get loans like Wonga.
Here we will talk about Moneyboat Loans and Dot Dot loans as the best alternative choices for Wonga. But first, we will focus on what Wonga loans are and why they have shut down their business. Let’s start with the details here.
Loans Like Wonga Reviews
This Loans like Wonga guide tells you about two of the major reliable alternative platforms that provide loans like Wonga. It tells you everything about them and also covers the details of eligibility criteria and application procedures of these two alternatives that make them the best choice for those looking for alternative options of loans like Wonga.
What Are Wonga Loans?
Wonga was previously the United Kingdom’s biggest and most reliable short-term loan provider. It was working not only in the UK but also in Poland, Spain, and South Africa. They were convenient and quick in their service and were known to be one of the reliable platforms to offer loan cash.
But then there were some complications in the administration of the Wonga Loans that ended up worsening the Wonga Loans platform. Due to this, the company collapsed and now is no longer working anymore. Since then, until now, the company is not been offering new loans.
Following are the 2 best alternatives for providing you with loans like Wonga. These are,
- Dot Dot Loans
Dot Dot Loans
If you are searching for the best options for getting a loan like Wonga, here is one of the best reliable alternatives to Wonga Loan: The Dot Dot Loans. The loans offered by Dot Dot loans are simple, straightforward loans.
These are easy and convenient to get loans with repayment time according to what suits you the most. The Dot Dot Loans are short-term loans like Wonga that also gives you a choice to pay back the payment in installments if you want so. In order to be eligible for getting the Dot Dot Loan, make sure you are fulfilling the following requirements.
- Ensure you are over 18 years of age.
- You should be a UK resident and should be an employee in any firm.
- Before initiating the application procedure, you also have to make sure that you have a verified email address and mobile number with you.
- Make sure the contact numbers and address you provide in your application are right and personal.
Example of Interest On Dot Dot Loans
From this Dot Dot Loan service, you can get £250 for over 3 months with monthly charges of £133.65 total. The interest rate at Dot Dot Loans is fixed and is 284.76%.
Moneyboat is another alternative to Wonga loans that provides direct, straightforward, easy, and hassle-free payday loans for the short term. It is one of the safest options for you, which ensures it does not share your details with other companies or people. Moreover, since it is an online service, you don’t have to worry about consuming time in the paperwork and doing hectic form fillings.
Within no more than 15 minutes, you can get the loan if you have applied for the loan and you are approved. Let us now look at the details of the Moneyboat Loan service so you know what the service will provide you and whether you should choose it as an alternative for Wonga or not. Let’s start with the guide below.
Eligibility Criteria For Getting Moneyboat Loans
Following is the list of details that will let you know about the eligibility requirements if you really want to get a loan from Moneyboat Loan service.
- In order to get the loan from the Moneyboat Loan service, you have to make sure that your minimum age is 18 years and not less than that.
- You should be an employed person and should earn a minimum of £1000 per month.
- Make sure you are either doing a full-time job or a part-time job.
- You should have your own personal UK bank account and debit card with you. This is important because you will receive the money in your bank account.
Keep in mind that the services are not for students.
What Do You Have To Do To Apply For Moneyboat Loans?
The application procedure is simple and easy. You just have to fill out the application form with the necessary information they have asked for. Make sure to enter the correct information. It will ask you about your monthly outgoing, what you do, what your job is, your bank details, and your payday.
Then the company will conduct an eligibility check on its own to see whether you are eligible for getting the loan or not. If your application is approved, you will receive all the loan documents in a soft copy via email. Sign them and wait until you receive your loan money in your bank account within no more than 15 minutes.
Are you eligible for a Dot Dot loan?
You are only eligible for a Dot Dot loan if you are over 18 years of age and are a UK resident. You also have to make sure that you are an employee and are working in some company or firm. Make sure you have your valid email address, mobile phone number, home address, personal bank account details, and debit card information with you.
In what countries were Wonga loans available other than the UK?
Wonga loans were available in Spain, Canada, South Africa, and Poland. In Spain, you can get the loan for up to 68 days; in Canada, it is available for 45 days; in Poland, you can get a short-term loan for 60 days and in South Africa, you will get the loan for 36 days.
Is a moneyboat safe to use?
Yes, a moneyboat is one of the safest choices for you to borrow money. It is an authorized and regulated company by the Financial Conduct Authority FCA. Since it is FCA-regulated, there is no doubt about its safety or security.
Wonga was previously one of the most reliable money lending platforms that offered loans. But since August 2018, when the administration collapsed, it has now stopped providing loans to customers. So if you are looking for the right option to provide you with loans like Wonga, the above are the two most reliable choices that you can make.
You can opt for Dot Dot loans service and can also opt for Moneyboat service for getting a loan. Both of these are described above so you know everything about both of these services and select the most suitable according to your need. Make sure to understand each and everything with all of your attention so you do not skip anything important if you really want to get a loan.