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RedWallet (Red Wallet) is a direct lender based in Malton (North Yorkshire) that operates from www.redwallet.com. This domain was initially devised in 2008, but it was updated in 2012 and from checking their Facebook page they do note that the launch came in late 2012. The RedWallet payday loans range from £100 to £400 that are taken over a full monthly period. A same day transfer by the Faster Payments Service comes at no additional cost. There is a 29% charge in place that equates to £29 per £100 that you borrow from them. This is a good overall rate, but it gets much better through their recent cashback incentive of £10 when you repay on time. This creates an excellent monthly rate of just £19 per £100 (this is for new customers).

RedWallet Ltd is a member of the CCTA trade association. The www.redwallet.com site carries a vibrant design and the application made will be fully secure, with an account login feature being granted to existing customers. When you do apply here to access the cashback just enter (RWL10) when you are asked. If you wish to reach their support team then you can do this on the email contact of customerservice@redwallet.com with their phone number being listed as 08455 44 28 99. RedWallet of course sends the cash across quickly, but there are a few limitations in place that could slow down the payout time. The main one is that they state that in most cases they will require an employer to be contacted before they can approve the application. They also only process applications between their operational hours between Monday and Friday.

Category:
Payday Lenders (30 days)

Comparison:
Top 10 Cheapest Payday Loans: RedWallet

Costs:
£29 per £100 (29%) = 0.967% daily (#9 for payday loans)

Costs with £10 Cashback:
£19 per £100 (19%) = 0.633% daily (#3 for payday loans).