Payday Loans, No Fax Loans, Same day Loans and One Hour Loans are some of the names used by a group of lenders who market short term loans which can be arranged for customers so that money goes into their account on the same day, some companies advertise that money can be transferred in as little as an hour.

In the past taking out a payday loan was something done by borrowers as a very last resort. Nowadays however those in need of cash in a hurry see it as a valid alternative to other forms of debt; with the recent Supreme Court ruling on the Office of Fair Trading case in favour of the banks – i.e. that banks are charging their customers fairly, firms such as Paydaybank.com have reported a massive 25% increase in business. The increase in traffic to sites such as this is believed to be directly linked to the ruling.