ASA bans yet another payday loan advert

The Advertising Standards Authority has banned an advert from payday lender Pounds to Pocket as it did not sufficiently clarify the cost of each loan to borrowers.

Two adverts from the lender were reported to the ASA, both of which featured a group of advertising executives discussing ideas for a new campaign for Pounds to Pocket.

Both adverts implied that Pounds to Pocket loans were “notably and distinctly straightforward” but the ASA upheld that the first advert did not sufficiently make clear the representative APR that borrowers must pay.

The banned advert featured on-screen text stating “Representative 399 per cent APR. Warning: Late repayment can cause you serious money problems. For help, go to”, while a voiceover simultaneously says: “If Pounds to Pocket wrote adverts, they’d be as straightforward as our loans. Find out more at”.

The ASA upheld the challenge that the representative APR was not given sufficient prominence in the advert and has therefore judged that it must not appear again in its current form.