Bongaloans - www.bongaloans.com

After being accepted money did go into account 48 hours later.

Tried to repay loan early (after 2 days of borrowing) their site had 30 days interest applied. They said contact them to get revised settlement with interest adjusted.

After some 5 or 6 emails over 2 days all ignored I settled in full paying £23 on £100 borrowing for 2 days, they offered me £16:90 back but they had a £4:50 transfer fee, so I got £12:40. I asked this fee be refunded as if they had answered my email on time I would not have incurred this fee and settled at a lower price.

This was their reply:-

-We have explained very clearly from the onset this £4.50 transfer fee and the reason for it.

Simply put if we had also sent this additional £4.50 to you. Of the £100 we originally sent the amount we would have received back would have been just £97.

So far the total amount received from your loan is £101.50. When deducting the cost of necessary credit and affordability checks, which is £1 (this service is provided by LendProtect). This leaves just 50p, which I am sure you can figure out does not cover the cost of processing your application or the time taken to respond to your correspondences.

(Someone can't add up £123-£16:90 (of which I got £12:40 - £4:50 fee) = £6:10 profit - £1 check = £5:10 profit)

This £4:50 fee is a load off bull, in this day and age a company of this structure will transfer money everyday free of charge.

So they delayed replying to me, obstructive to maximise interest, I settle they apologise for delay then charge me £4:50 for their delay.

CUSTOMER SERVICE TERRIBLE AVOID AVOID AVOID

Referred to FOS.

An update on FOS, after looking into my complaint recommended Bongaloans refund me my £4:50 transfer fee along with £30 compensation, they refused but said they agreed to refund £4:50 transfer fee, (they continually refused to refund this before which is why I referred case to FOS). After I stood my ground got refunded £34:50, so off a £100 loan they received £123 from me after 2 days, refunded £16:90 minus (£4:50 transfer fee = £12:40) interest which left them £6:10 profit, they claim £1 credit check = £5:10 making a lprofit of £5:10 plus my complaint to FOS being upheld for £34:50 makes a loss of £29:40I also used quidco and got £20 cash back, in summary I don't think the £4:50 charge happens, they wouldn't profit otherwise.

All in all too much of a headache.

Would have gave 0 stars if I could.

Review posted by Buzzin

Avoid this payday loan company at all costs. There are much better and more established ones out there if you do need such a loan.

Get messages to re-apply and they still refuse the loan.....totally rubbish

This company over charges on intest! (If you pay back early) Braking the law by doing so! Please avoid this company!

For one, they say there open till 5. But good luck getting anyone to answer the phone after 3.30pm! They make out your loan will be quick! Yet they don't fund loans untill 5pm. Basically stringing you along till that point! If you repay a loan early you still pay the same! Although this is now braking FCA rule on charging over 0.80 intrest a day (when you pay back early) I've opened a complaint with FO about this and would recomend no one else to use is company! It's a big joke! One man on a phone kinda buissness!

i applied but needed to be registered first so filled in application. got given a password entered the password and had to fill out another application. the layout of application was all wrong, you couldn't set out your correct earnings so I put what I earned closest to, bare in mind this is what you take home no other expenses because they ask you to then tell your expenditure, rent, shopping, utilities etc somewhere else on application. I got asked to send 3 months of payslips by email so I called to explain that my rent comes directly from my wages and would show on the wageslip. they said this was ok. ive been sent an email telling me my earnings on application was different to my earnings on payslip. I told them reason why. then they say minimum take home must be £1000 before expenditure. I take home more than this excluding expenditure but because on my wageslips its adding to only 700 because my rent was coming directly from wages per month which was listed under the expenditure section they were too dumb to work that out and refused me the loan. they also took £5 for credit checks and another £1 which is unaccounted for now they wont even answer my calls. fuming.

I have run into struggle and I need just a little bit more money for a circumstance, I am getting familiar with how the whole PayDay thing works.

I normally use sites like Review Centre or google to see what sort of reputation a PayDay company has before I enter the agreement.

Bongaloans turns out to be shocking, their website was all friendly and then it asked for some very detailed information and then I was offered a loan with a massive APR of 14348% and reading through the loan details I noticed things like £45 for a reminder letter for overdue accounts, this scared me into thinking that maybe this loan was not right. I asked for £100 30days was what I working on.

So I never accepted it, closed the browser and thought nothing of it. Over the next few days I noticed a payment missing from my bank account, £5 to Bongaloans. What was this for? it has actually tipped my bank into unauthorized over draft with another payment going out.

I am awaiting a reply on the £5 missing from my account. Not happy