Lending Stream

Lending Stream

December 01, 2009 01:00 ET

Lending Stream Announce Pre-Christmas Treat Offering Free Same Day Transfers on Payday Loans

EDGWARE, UNITED KINGDOM--(Marketwire - Dec. 1, 2009) - When a customer wished he could pocket a few extra pounds in savings to purchase a Christmas gift for his mother, a payday loans lender overheard his prayers. Lending Stream, a payday loans company, has announced that it will be offering free same-day transfers for a limited period to its customers to help them save up on the administration charges and other fees traditionally levied for instant loans.

A spokesman from Lending Stream said, "We usually provide free Direct Credit transfers (which take up to three days) and same day (CHAPS) transfers for Pounds Sterling 15 if customers need the cash on the same day. This is the CHAPS fee charged by the bank to us which we pass on to the customers. With a big shopping list and a desire to receive quick cash for any additional expenses, our customers will certainly love the fact that the fee for same day transfer fees will be waived off."

This is a welcome surprise for payday loan customers who are often discouraged by the additional transfer fees charged by lenders for instant loans, especially during the holiday season when they have a long list of purchases to make. The company has revealed that the free same-day transfers' offer will run till Christmas Eve to allow customers to make the most of this waiver.

"This holiday season, we intend to make our loans simpler. In addition to the CHAPS fee waiver, we also have other advantages like higher loan amounts, increased approvals, our flexible repayment plan that allows customers to repay in instalments, and more. We hope and wish that customers experience more happiness than last year, when the crisis was at its peak," the spokesman added.

The announcement about the free same-day transfer may have come at the right time, when people are looking to extract value out of every single pound for their purchases. Savings of Pounds Sterling 15 will certainly mean a lot to payday loan customers with instant cash needs and bring some additional cheer this holiday season.

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