If I Need Money Fast, What Can I Do? Your Options Ranked by Cost and Speed
Published 29th of December 2012·Updated 9 April 2026
Reviewed by: Reviewed for accuracy April 2026
If you need money quickly, your cheapest options are usually an authorised overdraft, a personal loan from your bank or borrowing from someone you trust. Selling items you no longer need costs nothing and puts cash in your account within days. Payday loans and high-cost credit should be a last resort: they are fast but extremely expensive and can make a short-term problem significantly worse.
Short Summary
How quickly you can access money depends on the option you choose. An existing overdraft is available immediately. A personal loan from your bank can be funded within hours to a few days. Selling items on eBay typically takes three to seven days from listing to receiving payment.
The cost of borrowing varies enormously. An authorised overdraft at 40% EAR is significantly cheaper than a high-cost short-term loan at several hundred per cent APR. Always check the total repayable amount, not just whether you can get the money.
If you need money because of a genuine financial emergency, organisations including the Trussell Trust food bank network, local councils and some charities offer emergency grants that do not need to be repaid.
What are your fastest options when you need money urgently?
| Option | Speed | Approximate cost | Best for |
|---|---|---|---|
| Existing overdraft | Immediate | 19% to 40% EAR | Short-term gaps of days to weeks |
| Selling items (eBay, Facebook Marketplace) | 1 to 7 days | Free | Raising cash without debt |
| Personal loan from your bank | Same day to 3 days | 5% to 15% APR | Larger amounts, structured repayment |
| 0% credit card (new) | 1 to 5 days | 0% for 12 to 21 months | Planned spending you can repay over time |
| Borrowing from friends or family | Immediate | Potentially free | Trusted relationships where repayment is realistic |
| Payday or high-cost short-term loan | Same day | 200% to 1,500% APR equivalent | Genuine last resort only |
Sell things you no longer need
Selling items you own is the fastest way to raise cash without any borrowing costs at all. eBay, Facebook Marketplace and Vinted allow you to list items for free, and popular items often sell within 24 to 48 hours. Electronics, clothing, furniture and children's toys all sell well.
For faster results, price items slightly below what similar ones are listed for and be responsive to messages. Local selling through Facebook Marketplace means you can arrange cash collection the same day. Cash-in-hand sales at a car boot sale are immediate but require a weekend morning and a stall fee of around £10 to £20.
Ask your bank about an overdraft
If you have a current account with an authorised overdraft facility, this is available immediately at the point of need. Most major banks including Barclays, HSBC, Lloyds and NatWest charge a single annual interest rate on authorised overdrafts, typically between 19% and 40% EAR.
If you do not have an overdraft or need a higher limit, call your bank directly. Some will grant an increase over the phone within minutes. Avoid going into an unauthorised overdraft (spending beyond your agreed limit), as fees and interest on unauthorised borrowing are significantly higher.
Apply for a personal loan
A personal loan from your own bank is often the fastest route to a larger sum of money. If you have an existing relationship with your bank and a decent credit score, many lenders can approve and fund a loan the same day or within two to three working days.
High-street banks including Barclays, HSBC and Lloyds as well as digital banks including Monzo and Starling offer personal loans. The interest rate you are offered depends on your credit score and income. Rates for borrowers with good credit typically range from 5% to 15% APR. Use a soft search eligibility checker on the lender's website before applying formally to avoid an unnecessary hard search on your credit file.
Borrowing from friends or family
Asking someone you trust for a short-term loan is often the cheapest option, as no interest is charged. However, money disputes are one of the most common causes of lasting damage to personal relationships.
If you borrow from a friend or family member, treat it with the same seriousness as a bank loan. Agree the amount, when you will repay it and how. If possible, put this in writing. Repay on time, or communicate early if circumstances change. The money itself matters less than the trust, so be realistic about what you can actually afford to repay and when.
What about payday loans?
Payday loans are regulated by the FCA, which caps the total cost at 100 per cent of the original loan amount. This means you cannot owe more than double what you borrowed. However, on a short-term basis the APR equivalent is extremely high, often several hundred per cent.
Payday loans should only be considered when you have exhausted all other options and you are certain you can repay the loan in full on your next payday without putting yourself short for the following month. Rollover payday loans, where the debt is extended because you cannot repay it on time, have trapped many borrowers in cycles of expensive debt. If you find yourself in that position, contact StepChange (0800 138 1111) for free advice.
Are there any grants or emergency funds available?
Depending on your circumstances, you may qualify for help that does not need to be repaid. Local councils in England operate a Household Support Fund, which provides emergency assistance with food, energy and essential costs. Contact your local council directly to ask what is available in your area.
The Trussell Trust food bank network operates across the UK and provides emergency food parcels to people in crisis; referrals come through Citizens Advice, GPs and social workers. Some charities also provide emergency grants: Turn2us (turn2us.org.uk) runs a searchable database of grants available in the UK based on your circumstances.
Frequently Asked Questions
How fast can I get a personal loan in the UK?
Some banks, including Barclays and Santander, can fund a personal loan the same day for existing customers with straightforward applications. For new customers or larger amounts, the process typically takes two to five working days. Digital lenders including Zopa and Funding Circle often give instant decisions, with funds arriving within one to two days.
Is it better to use an overdraft or a credit card for a short-term cash need?
For spending that goes through a card terminal, a credit card is usually better than an overdraft because it comes with Section 75 consumer protection and, for short periods, may carry lower effective rates. Overdrafts are more useful for covering direct debits or standing orders that cannot be paid by credit card.
What happens if I cannot repay a payday loan?
Contact the lender immediately. FCA-regulated payday lenders are required to refer you to free debt advice if you are struggling to repay. Do not take out another payday loan to repay the first one. Contact StepChange or Citizens Advice for free advice on managing the situation.
Can I get emergency money from the government?
Universal Credit claimants can apply for a Budgeting Advance, which is an interest-free loan of up to £812 for single people or £1,500 for couples, repaid through future Universal Credit payments. Local councils also operate hardship funds under the Household Support Fund scheme. Contact your local council to ask what is available.
How do I sell things quickly on eBay to raise cash?
List items with clear photos, an accurate description and a price 5% to 10% below comparable sold listings. Opt for a seven-day auction rather than a fixed-price listing for items you need to move quickly. Offer collection as well as postage to attract local buyers. Electronics, gaming items and branded clothing typically sell fastest.