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ASA upholds complaints against payday lender



The Advertising Standards Authority has upheld two complaints against a payday lender and ruled its APR was presented in an unclear manner.

A radio advertisement for Peachy Loans presented the representative APR of 1,918 per cent as “nineteen eighteen” per cent. Two complainants challenged whether the ad was then misleading and likely to confuse listeners.

Parent company Cash on Go were satisfied the ad was compliant with consumer credit regulations and asserted this method of presenting the APR was a commonly-used phrasing for reading numbers. It said there was no intention to mislead customers and the APR would be presented as “one thousand nine hundred and eighteen” in future.

The ASA acknowledged that this method of reading some types of numbers was common, particularly with telephone numbers, but was not considered to be common for important financial information such as the APR.

The ASA says: “We considered that the APR was read in an unclear and ambiguous manner, and could have been misheard or misunderstood by listeners.”

The ad was ruled to have breached BCAP Code rules 3.1 and 3.2 on misleading advertising and cannot be broadcast again in the current form.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. I think the company’s response sums up the attitudes of these companies.

  2. Brilliant wheeze. The next step will presumably to announce that the APR is “One point nine one eight percent” – and when queried say that they’re using the European style, which is the opposite to ours (full stops divide mutliples of a thousand, commas denote decimal points).

  3. what about the brokers? 27th June 2013 at 3:10 pm

    Well it’s nice to zeal a little bit with some borderline cases but when are they really going to deal with the real issue in that sector, the brokers !
    Time to tell people who are the real direct lenders (see for instance or there are some other I cannot recall) and to avoid the brokers who often charge some nonsense fees.

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