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Advertising watchdog bans payday lender ad

The Advertising Standards Authority has banned an advert by payday lender Instant Cash Loans, trading as the Money Shop, following a complaint from a viewer that the APR rate was not “sufficiently prominent”.

Two complaints were levelled against a TV ad for the firm where a translucent box stated “Representative example: £100 for only £10 (normally £19.79*). Total amount repayable in a single payment of £110 in 30 days. Interest rate 10 per cent (variable). 219.1% APR representative.”

A viewer challenged the prominence of the ad while the ASA questioned whether the example and the representative APR rate were sufficiently clear and legible.

On the first point, the ASA ruled that the remaining standard information that made up the representative example should have been the same size as the RAPR and larger than the incentive. Since it was not, the ad was found to have breached the BCAP Code rule 14.11 on lending on credit.

The second complaint was not upheld as the ad was not ruled to have breached the code.

The ad is not allowed to appear again in its current form and Money Shop have been warned to ensure all ads comply with the legislation in future.


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  • Mary Lockyer 27th September 2012 at 11:57 am

    Hear, hear, the Wonga ad is the most blatant abuse, I have watched carfully at NO time is any APR dislayed in their advertising, jsut these wretched sliders, and advert appealing to the lowest standards if ever there was,

  • beverley callander 26th September 2012 at 10:26 am

    Why is the Wongga ad allowed when it would appear no APRs etc are shown and only a wee slide rule

  • Rudolph Hucker 26th September 2012 at 10:25 am

    THe ASA also has no idea about the relevance of APR. Perhaps it should be DPR (Daily Percentage Rate) £10 for 30 days credit is ok for many people with a short term problem.