Could payroll loans change pay day loan providers?

Could payroll loans change pay day loan providers?

2020.12.22

A month take out high cost short-term credit in the UK around 300,000 people. 1.6 million individuals in britain had high price credit financial obligation at the conclusion of 2016, aided by the normal loan of £300. The Financial Conduct Authority (FCA) reported that 1 in 8 among these borrowers had been in arrears. It could be very important to employers to discover that assisting employees in gaining better monetary understanding often helps them avoid monetaray hardship.

Is there restrictions on offering loans to workers?