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WageMe Reviews, Fees, Alternatives & More (2022)

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Loan amounts: £50 to £5,000+
Loan terms: 1-18+ months
Representative APR: 49.9% APR
Application fee: None
Funding speed: 24-48 hours
Customer support: Phone, fax, website

Price: £50

Updated: November, 7, 2022


  • Flexible repayment dates
  • Early repayment available
  • No application fees
  • Same-day transfer
  • Quick initial decision
  • Bad credit loans
  • Cons

  • Strict acceptance rate
  • Applicants must have regular income
  • WageMe is an online UK lender that mainly offers instant loans to get you through the next paycheck. According to WageMe reviews, it’s one of the best short-term loan providers in the UK. 

    But, what exactly does WageMe offer, and is it the right choice for you?

    What Is WageMe?

    WageMe is an online-only finance company and a direct lender based in London. It has been around since 2012.

    This loan provider offers a flexible service, allowing borrowers to pick the amount and pay date, and is completely transparent about interest rates, conditional charges, and the overall repayable costs, among other things.

    What type of loans does WageMe offer?

    How Does WageMe Loans Work?

    WageMe’s application process is entirely online. It doesn’t require borrowers to deal with paperwork or attend meetings. This loan provider only lends to those that can afford to pay back the loan quickly and as such, has a stricter acceptance rate. 

    Worth noting: Most WageMe loans are designed to help borrowers until their next paycheck. If you’re looking for a provider that offers fast loans with longer terms, you might want to consider Everyday Loans or Koyo Loans.

    How To Apply

    To apply for a loan from WageMe:

    1. Go to WageMe’s website.
    2. Choose a loan amount, term, and purpose.
    3. Enter your details, financial information (income and expenses), and bank details.

    WageMe will perform a credit and affordability check and give you a decision within 30-90 seconds about your loan request. If approved, you will receive the money in your account usually on the same day.

    Read more about WageMe alternatives:

    WageMe Qualifications

    To be eligible for a WageMe loan, you need to:

    • Be a UK resident.
    • Have a valid UK bank account.
    • Be at least 18 years old.
    • Have a regular income of at least £600.
    • Have a valid email address.

    Credit score is checked, although you don’t need a perfect credit rating to apply. 

    WageMe Withdrawal: How Does Repayment Work?

    WageMe collects payments directly from borrowers’ bank accounts on the date they specified on the agreement. Borrowers can also repay the money in advance and possibly save on interest, depending on how much they have repaid at that point.

    Main Features 

    Here’s what WageMe has to offer.

    Flexible/Early repayment

    Borrowers can choose between loan terms of 1 to over 18 months. The minimum repayment period for any loan is 90 days and the maximum is 3 years. 

    WageMe also lets them decide the date on which they want to pay.

    If you want to repay your loan early, you could potentially save on interest. Like CASH4UNOW and Dot Dot Loans, WageMe doesn’t charge an early repayment fee.

    Bad Credit Loans

    WageMe doesn’t reject applicants based on bad credit scores or poor credit history only. 

    The lender takes into account factors like financial and budget circumstances, residential status, and other information.

    Worth noting: If you have bad credit, taking out a credit building loan with a direct UK lender can help. 

    Short-Term (Instalment and Payday) Loans

    WageMe’s short-term loans range between £50 and £5,000. Borrowers can take out short-term loans over periods of 6-35 days, instalment loans are 1-12 months, and payday loans are 1-31 days.

    Bridging loans

    Bridging loans from WageMe are available from £30,000 to £2,000,000 over 3-4 weeks to up to 3-4 years. The amount and loan term are determined on a case-by-case basis. Bridging loans can come in handy when you are trying to cover the cost of buying a new property before selling the old one. 

    Quick initial decision

    WageMe’s application process is quick and simple and the lender gives applicants an initial decision within minutes after they complete the application form. 

    WageMe Pricing

    The amount you’ll need to pay in interest and the total repayable amount depends on your financial circumstances, your budget, credit history, and other factors.

    For example, if you take out a loan of £1,200 for 18 months at £90.46 per month, you’ll pay at an interest rate of  49.9% pa (for a total of £428.28) and a total amount repayable of £1,628.28. 

    APR rates vary from 45.3% to 1721% APR.

    The representative APR is 49.9%, one of the lowest on the market right now. 

    WageMe Fees

    If you can’t pay WageMe on the chosen date, an advisor from the company will reach out to you to resolve the issue. If you miss several payments, you can incur a penalty of up to £15.

    The missed payments will be reported and they will affect your credit score

    Customer Support 

    You can contact WageMe’s customer support team by:

    • Phone: 0207 993 0742
    • Fax: 0207 681 1681
    • Enquiry form via the website.

    WageMe Loan Reviews

    WageMe has a 4.7-star rating on Trustpilot. Customers say that its website is easy to use and praise its fast application process.

    ‘Fast application, great service, would recommend and use again!’ – Miss Byers.

    ‘Very pleased with fast and efficient service. I would certainly recommend them to anyone.’ – Mr Wakefield.

    ‘Quick and efficient didn’t even need to speak to anyone.’ – Mr Sandrone.

    ‘Easy to use I had an issue with one thing so I emailed customer service and they replied very fast and solved the issue quickly very happy with service highly recommended.’ – Mr Tattum.

    ‘Wageme have been brilliant from my very first loan agreement to getting a reloan. Very helpful customer service staff, who replied to my email queries almost immediately! Would highly recommend it! Great service and great rates!’ – Mrs Rudden.

    ‘Have you had one of those days where everything goes wrong. Car needs to go to the garage to get fixed. Well it all went right at Wageme.com. Filled out the simple form and within 30 minutes the money was in my account. Would definitely use this Service again. Thank You Wageme.’ – Allan.

    Is WageMe Legit?

    WageMe is a trading name of Wageme.com Ltd., which is regulated and fully authorised by the Financial Conduct Authority. The lender boasts a wide variety of loans, allows for early repayment, and is an excellent option for individuals looking for short-term loans.


    Is WageMe a direct lender?

    Wageme is a direct lender. Potential borrowers can apply for loans on their website and if approved, the lender will transfer money directly to their bank accounts.

    How quickly will I receive the cash?

    Most customers get the cash deposited into their bank account on the same day when their application is approved. It may take 24-48 hours for some banks to clear the funds.

    If my credit history is poor can I still be approved?

    WageMe approves or rejects applicants based on a variety of factors, but would not reject an applicant solely due to poor credit history. According to some WageMe reviews, the lender has accepted applications from people with a bad credit score.

    My name is Marija, and I'm a financial writer at DontDisappointMe. Although finance might not be everyone's cup of tea, my 10+ years of working in one of the biggest banks in my country, and my interest in extensive research on everything finance/investment-related, have made me somewhat of an expert in the field (if I do say so myself). No longer having the passion to work in a corporate setting, I decided that I couldn't let all of this knowledge go to waste so I started writing. And, here I am! Today I try to share my knowledge with my audience in the hopes of making this topic as simple and interesting as possible. In my leisure time, I like spending time with my family and travelling to new locations.