Our loans are intended to help with your urgent, short term financial needs and are designed with the expectation you will repay all sums due – that's the amount you have borrowed and the interest due – on your next payday. They are not intended for long term borrowing and are expensive if you use them that way. If you need to borrow over the longer term, there are other products from other lenders which are more suitable and you should consider.

You need to be certain that our loans are right for you before you apply and bear in mind that excessive borrowing can lead to severe financial problems. The loans we offer are not appropriate if you are in financial difficulties. If you are in financial difficulties, see the "where to go for help" section of our Missing your payments page.

We have explained below some of the key things you should think about when deciding whether our loans meet your needs.

Are you eligible?

To be considered for a loan with Cash Genie, you must:

1. be 18 or over;
2. be in permanent employment;
3. earn at least £500 per month;
4. be a UK resident; and
5. have a current account with a debit card.

How long can you borrow for?

Cash Genie offers short term, emergency loans from a minimum of 5 days to a maximum of 35 days. Our loans are therefore intended to meet your short term needs only. They are an expensive form of credit if you use them to borrow over longer periods.

If you take out a loan with Cash Genie and you do not wish to repay on your repayment date, click here to see your options.

How much can you borrow?

Whether this is your first loan from Cash Genie or not, you can apply for a loan from £75 to £500. However, you may not be offered the maximum amount available. Loan amounts are based on your individual circumstances including your credit history and ability to repay. We have to be satisfied that you are able to repay the amount you ask to borrow and we will carry out an affordability assessment before approving your application to help us make this decision.

Can you afford it?

You need to be comfortable that you can afford to pay back the loan in full according to the terms of the agreement. If you have any doubts, you should not apply. To find out more about our affordability requirements, click here.

What are the risks?

If you do not pay on time, it may result in a number of adverse consequences:

• You will incur late payment charge(s) - for details of our charges, click here.
• When you apply for a loan with us, you provide us with a continuous payment authority. We will use the continuous payment authority to attempt to collect the balance outstanding from your account. If there are insufficient funds in your account provided to us for payment and our attempts to recover the outstanding amounts using the continuous payment authority take you into an unauthorised overdraft, you may incur charges imposed by your bank. For details of our use of continuous payment authorities click here.
• You may find that it is more difficult to obtain credit in the future. We report non and late payment to credit reference agencies and missed payments may adversely affect your credit rating.

To find out more about the consequences of missing payments, click here.

Further considerations

Before you enter into an agreement with us you will be given a 'Pre-Contract Credit Information' document along with a written explanation of the proposed agreement called the Adequate Explanation. You should take the time to consider those documents carefully before you decide whether you want to go ahead with the loan. Those documents are intended to provide further details about the proposed loan so that you can make a decision about whether it is suitable for you.

We are committed to lending responsibly and assess each application on an individual basis to ensure that the applicant is able to pay back the loan on the agreed date.

We use all of the information you give to us in your application to assess how affordable the loan is for you. It is, therefore, very important that you provide full and accurate information to help us to make the right decision on your application.

It is vital that you think carefully about whether you can comfortably afford to repay the loan plus interest and any charges on the date you agree with us. If you have any doubts at all, you should not apply for the loan. To find out more about the charges that may apply to your loan, click here.

Our loans are intended to help with your urgent, short term financial needs and are designed with the expectation you will repay all sums due – that's the amount you have borrowed and the interest due – on your next payday. They are not intended for long term borrowing and are expensive if you use them that way. If you need to borrow over the longer term, there are other products from other lenders which are more suitable and you should consider.

Excessive borrowing can lead to severe financial problems. The loans we offer are not appropriate if you are in financial difficulties. Failing to repay your loan on the repayment date may result in a range of negative consequences. For example, this could affect your credit history which may have a big impact on your ability to get credit and the cost of borrowing money in the future. If you are in financial difficulties or want to find out more about the consequences of missing payments, click here.

We offer loans between 5 and 35 days. If you do not wish to pay back on the agreed payment date, you may be able to extend the borrowing period under your existing agreement with us for a further month i.e. until your next payday. This is known as a "rollover". We will only agree to rollover a loan a maximum of three times. We do not allow you to rollover unless you have paid off the interest on the loan which has accrued up to the date on which you want to rollover. Under the Terms of the agreement, we will attempt to take the interest and capital on the due date in two repayments. If we manage to take the interest only, you agree under the terms that we shall add another month of interest when we rollover your account. This will be repayable on the next pay date together with the capital. We shall repeat the process three times only. To let us know you do not want us to rollover or extend the borrowing period, you should immediately call us on 0845 4956 9848.

We will only allow you to rollover if we are satisfied that you can afford to do so. We will carry out a fresh affordability assessment each time you ask us to rollover your loan to ensure make sure that we are satisfied you are able to repay the full amount outstanding on your next payday. To find out more about how we assess your affordability, click here.

If your circumstances have changed and you no longer meet our eligibility criteria, this may also mean that we will not allow you to rollover your loan. To remind yourself of our eligibility criteria, click here.

You will be required to pay a further charge each time you rollover your loan. That charge is the cost of another month's interest calculated as £30 for every £100 that is rolled over.

Your borrowing period will also be extended and your loan rolled over for an additional month if you haven't told us you want to do so but, when we seek to take payment of the capital outstanding using your continuous payment authority, we are unable to collect it. This may occur 3 times only.

If we are still unable to recover the interest and the capital at that time, your account will be considered as in default. To find out more about the consequences of missing payments, click here.

If, after 3 rollovers, you have not repaid the loan in full, you will be required to pay 12.5% of the capital outstanding each month (plus the interest due at the contractual rate) until all sums have been repaid.

We charge £30 for every £100 borrowed over one month or part of a month. This is equivalent to an interest rate of 360% per annum (fixed). This charge applies irrespective of the duration of the loan, meaning you will pay the same amount in charges if you borrow the loan amount over 5 days or 35 days.The exact amount you will have to pay in charges depends on the amount you borrow from us. If you choose to get your funds using the faster transfer service, you will be charged a £20 fee.

If you cannot repay your loan on the agreed date per the terms of the agreement, we may be able to extend you loan ("rollover"). For each time that you extend the duration of your loan, you will be charged another £30 per £100 rolled over. This applies until all sums have been repaid (unless we waive any charges because, for example, you are in financial difficulties). We will not allow you to extend/rollover your loan more than 3 times. Click here to find out more about rollovers.

If you do not repay the full amount of your loan on the repayment date, you have not or are unable to extend your borrowing period, or you have not contacted us or responded to our emails/txt/letters to discuss an alternative payment arrangement, you may have to pay the following charges:

• A late payment charge of £15 will be applied to your account if the amount due under your agreement is still outstanding 1 day after your repayment date.
• If you have still failed to pay the full amount due 7 days after your repayment date, we will send you a letter requiring payment which carries a charge of £12. We will charge a further £12 for each letter we send to you. We will send a further letter 23 days, 32 days and 62 days after your repayment date until you repay in full but will not send you more than four letters in total.
• Interest will continue to be charged at the rate above and as set out in your agreement from the first day that your loan is outstanding until the loan is repaid in full.

In addition, you may also have to pay:

• £30 for each debit card transaction that is not authorised where we are charged a chargeback fee by your bank.
• £45 to cover our costs in trying to trace you if you move address without telling us.

Missing your payments

If you do not think that you will be able to repay the amount owed under your agreement on the repayment date, please contact us on 0845 4956 9848 to discuss your options. We may be able to help you with an alternative payment arrangement.

You need to consider carefully whether you can afford to borrow before taking out a loan. When you apply for the loan you need to ensure that you are providing honest and accurate information so we can make an informed decision about your application. Click here to find out more about whether you can afford to pay.

If you do not pay on time, it may result in a number of adverse consequences:

• You may be required to pay certain charges connected with your late payment such as a late payment fee. For details of the charges that may apply if you miss a payment, click here.
• If you authorise us to do so, we will use continuous payment authority to attempt to collect the balance outstanding from your account and that may cause you to go into an unauthorised overdraft, which may result in bank charges - for details click here.
• You may find that it is more difficult to obtain credit in the future as we may report non and late payment to credit reference agencies and this may adversely affect your credit rating (which most lenders consult when assessing a loan application).
• We may also refer the matter to a debt collection agency or commence legal proceedings to recover the amount you owe. You may be required to pay our reasonable costs and expenses incurred in taking steps to enforce the credit agreement against you.

Where to go if you need help

If you find yourself in financial difficulties, free help and advice is available from a number of organisations. Here are the contact details of some of the organisations you may want to contact:

• Citizens Advice www.adviceguide.org.uk
• National Debtline 0808 808 4000 or www.nationaldebtline.co.uk
• AdviceUK 0207 469 5700 or www.adviceuk.org.uk

If you apply for a loan with Cash Genie, we will ask for the details of the bank from which you would like to repay your loan. We use a continuous payment authority to collect the amount you owe under your agreement from that account.

What is a continuous payment authority?

A continuous payment authority ("CPA") is a payment arrangement that can be set up using your debit card. When you enter into an agreement with us, you authorise us to use your card details to collect payments due under the agreement at the times and for the amounts set out in the agreement. CPA is different from a standing order as the timing and amount of payments may vary. It also differs from a direct debit as CPA is not covered by a guarantee scheme.

How is authority given?

If you enter into an agreement for a loan with us, by signing that agreement, you give us a CPA to collect from your account the amounts you owe under the agreement at the times and at the frequency set out in both:

• the explanation document that accompanies the Pre-Contract Credit Information we provide to you before you sign your agreement; and
• the terms and conditions of our agreement with you (you can see a copy of those terms and conditions by clicking here).

How and when can you cancel your CPA?

You can cancel you CPA by:

• calling us on 0845 956 9848 any time up to 5pm on the day before the repayment date;
• writing to us at Cash Genie, 2 Reavell Place, Ipswich, Suffolk, IP2 0ET; or
• contacting your bank or the card issuer.

You should bear in mind that if you cancel your CPA you will still owe the amount due under your agreement and so you will be required to provide us with an alternate method of payment.

How does Cash Genie use CPA?

We use CPA to take the amount payable under your agreement on the repayment date in 2 collections. First, we will collect the interest and then, later on the same day, we will collect the capital. If both the interest and the capital are successfully collected, then the account will paid in full and we will not use continue to use the CPA.

If, on the agreed repayment date, we are:

• only able to collect the interest but not the capital, your agreement will rollover and we will use CPA to collect the sums due on your next payday. To find out more about rollovers, click here; or
• not able to collect either the interest or the capital from your account, we shall consider your account as being in default/arrears and we shall attempt to take payments under the Terms on each Friday, Last working day and each Payment Anniversary as highlighted in the Terms.

What are the possible consequences of using CPA?

If there is not enough money in your account on the repayment date to pay the amounts due, when we use the CPA, this may have adverse consequences:

• If our attempts to collect payment take your bank account into an unauthorised overdraft you may incur bank charges.
• You will have to pay £30 for each debit card transaction which is not successful if we are charged a charge back fee by your bank.

Other charges may apply as a result of you a missing a payment. For find out what those other charges are, click here.