Pounds to Pocket payday loan ad that told people to borrow for birthdays banned

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‘Irresponsible’ Payday Loan Ad Telling People to Borrow for Birthdays Banned

  • Pounds to Pocket sent emails offering people loans for the celebrations
  • He said borrowing money would give them a “worry-free” birthday
  • But the debt counseling charity called the marketing “irresponsible”
  • Lender has now withdrawn emails from circulation after watchdog investigation
  • The company claimed that the email showed customers that “their business is valued”










Pounds to Pocket emailed people ahead of their birthdays offering to lend them money to fund their celebrations

An email ad from payday lender Pounds to Pocket was banned for encouraging clients to use a short-term loan to fund their birthday celebrations.

The email arrived with a subject line saying “Happy Birthday Pocket Books” and went on to say, “We would like to wish you the very best on your special day!” Now you can claim the money you need to enjoy your birthday worry-free. ‘

The Citizens Advice charity complained that the ad promoted a laid-back “worry-free” attitude to taking out a short-term loan and irresponsibly encouraged consumers to use the money to fund birthday parties.

CashEuroNetUK, marketed as Pounds to Pocket, acknowledged that taking out a short-term loan was an issue to be seriously considered, but said it had made “great efforts” to ensure that advertisements do not target “inappropriate” people, such as children.

He said the purpose of the anniversary promotion was to show customers that their business was valued.

But after an investigation by the Advertising Standards Authority (ASA) watchdog, the lender said it would take the email out of circulation.

The AQA noted that a 20% discount was offered on a scheduled first payment for those who applied on the day the email was received, and that funds would be sent within 10 minutes if they are approved.

Believing that the ad should not appear again in its current form, the ASA said: “While this may be desirable, it was unlikely that there would be money to spend on the celebrations of anniversary be considered essential, and by encouraging recipients to take advantage of the service through an offer of a discount for immediate application, Pounds to Pocket had requested a decision, thus limiting the time that those interested in a loan could allow for a proper review. .

Gillian Guy of the Citizens Advice Bureau said it was irresponsible of the company to market loans as

Gillian Guy of the Citizens Advice Bureau said it was irresponsible of the company to market the loans as “worry free”

“We concluded that the email was irresponsible as it encouraged taking out a short-term loan for frivolous expenses and promoted the borrowing process as trivial and without liability.”

Citizens Advice CEO Gillian Guy said, “Payday loans can add to financial worries, not remove them. It is irresponsible of any lender to promote a flippant attitude towards borrowing by suggesting that using loans is worry-free and can be used to fund celebrations.

“Citizens Advice helps thousands of people in debt every year because lenders haven’t done checks to see if people can afford to repay.

“The ASA’s decision to ban this advertising sends a strong message to other payday lenders that this type of marketing is irresponsible and inappropriate.”

Campaigners hope Advertising Standards Authority move will curb marketing by payday lenders

Campaigners hope Advertising Standards Authority move will curb marketing by payday lenders

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