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There are hundreds of payday loan lenders available on the internet, but how can you truly know that you’re using a lender that’s reputable and reliable? When looking for payday loans direct lenders, there are a few factors which you will need to take into consideration, including whether they have the appropriate regulations and whether they state any extra costs clearly and concisely. If you’re in a financial emergency and urgently need a loan, but are unsure about which lender to choose, we’ve made the selection process a little easier for you.

Are They Regulated By The FCA?

Undeniably, one of the most important parts about choosing a payday loan lender is whether or not they’re regulated by the FCA. Before borrowing a single penny from a lender, you may want to check to see if they are authorised by the FCA. Usually, this information can be found in the footer of the lender’s website. The information you may consider include the FCA authorisation number and the company registration information. If you’re unable to find this information, it’s highly likely that the business is not as trustworthy as it should be.

The APR Rate That They Charge

Once you’ve discovered that your desired lender is regulated by the necessary statutory bodies, you may then proceed to investigate into their extra charges, with APR being the priority. APR stands for Annual Percentage Rate, yet confuses many people searching for a loan lender as it usually needs to be paid in monthly instalments. When searching for a lender’s APR, remember that the stated APR value isn’t the definite one that you’ll have to pay. Instead, you should only pay a fraction of the percentage, although this depends on several factors such as how much you intend on borrowing and how long you require the loan for. It’s worth noting that the very best lenders will tell you the exact amount that you’ll have to pay long before you’re expected to.

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Is Their Website Secure?

When dealing with an online payday loan lender, it can be difficult to discover how reliable they are when human contact is limited. Naturally, one of the most important things you should look out for in a payday loan lender is whether or not their website is secure, otherwise your personal and financial information may be put at risk. Luckily, you don’t have to be a technological expert to do this either, as simple things such as whether they have a ‘https’ URL as opposed to ‘http’ can determine whether or not they have a secure website. In addition to this, particularly on mobile, you may see a padlock symbol next to the site address, which can also be a sign that a website is secure. If a lender lacks security features, you may want to look elsewhere.

Do Your Research

Before being completely set on a single payday loan lender, you’ll want to compare the market as much as possible, looking out for all of the above criteria. More established businesses will often guarantee you stability, and often all potential hidden charges will be made clear to you before you decide to take out a payday loan. Furthermore, you should always conduct your research to find out whether the site is mentioned elsewhere online in reviews or testimonials, as this can provide you with advice from likeminded individuals who have used their services.


Convicted former UBS trader Kweku Adoboli has been formally banned from working in the financial services industry.

Kweku Adoboli, 35, was jailed for seven years in 2012 for fraud.

UK’s Financial Conduct Authority (FCA) said it had banned Kweku Adoboli, who was released from jail earlier this year.

His actions resulted in losses of £1.4 billion ($2.2 billion) for the Swiss bank, the FCA said.

UBS was fined £29.7 million ($47.5) for systems and control failures related to the unauthorized trading losses.Kweku Adoboli UBS trader ban

Kweku Adoboli said the ban marked the end of a difficult chapter in his life.

“I fully recognize the reasons for my prohibition and thank the FCA for their restraint. My hope now is to move forward in a positive way to help others learn from the mistakes I’ve made,” he said.

Kweku Adoboli’s lawyer said he wanted to repay his debt to society by using his own experience to explain how risk management controls might be avoided.

The rogue trader was arrested in September 2011 and was held in custody for nine months until his trial.

After serving almost half of his sentence for two counts of fraud, Kweku Adoboli was released from jail in June 2015.

During his trial at Southwark Crown Court, Kweku Adoboli told the jury that UBS staff were encouraged to take risks until they got “a slap on the back of the wrist” by senior managers.

Tracey McDermott of the FCA’s predecessor, the Financial Services Authority, said in 2012 that the bank’s faulty controls had allowed Kweku Adoboli’s losses to mount to what was the largest trading loss in the UK.

“UBS’s systems and controls were seriously defective,” she said.

“As a result, Adoboli, a relatively junior trader, was allowed to take vast and risky market positions, and UBS failed to manage the risks around that properly.”

He is facing deportation to his native Ghana after an immigration tribunal this week ruled that he should be removed from the UK.

According to the UK’s law, foreign nationals who have been sentenced to more than a year in jail should be considered for deportation.

Kweku Adoboli, the son of a UN diplomat who was educated at a Yorkshire boarding school, said he would appeal against the “heartbreaking” decision.