This company have gone bust. Don't bother to use them for a new loan or top up they aren't allowed to lend hope this helps. Andrew Tate and James Hopkirk of Kreston Reeves LLP were appointed Join... See more
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See what reviewers are saying
Absolutely amazing, I have a bad disability which drains me both energy and tiredness. I've looked through several loans as you do to compare. I was blown away with how quick and simple (and painless... See more
Excellent. No bull****, clear & transparent terms. Short application -- only essentials that matters to check basic credit score. After checks -- if you not qualified for amount You selected... See more
Company replied
The application was fast and easy. The decision was almost immediate and the monet was in my account within 10 minutes. Also everything was explained in simple terms without seeming like it had been... See more
Company details
Written by the company
Oakam Limited (In Administration) Andrew Tate and James Hopkirk of Kreston Reeves LLP were appointed joint administrators of Oakam Limited trading as "Loal" (the "Company") on 24 February 2022. The affairs, business and property of the company are being managed by the joint administrators and further information regarding the Administration is available at the following website: https://www.krestonreeves.com/oakam-ltd-loal-app-faq/ The Company has now ceased to trade and all enquiries should be made directly to the Joint Administrators at restructuring@krestonreeves.com. The Joint Administrators act as an agent of the company and without personal liability.
Contact info
Sunley House, CR0 2AP, Croydon, United Kingdom
- hello@oakam.com
- oakam.com
Its a good company to have a loan with…
Its a good company to have a loan with always great with you and also can have 3 loans arta one
July 11, 2021
Unprompted review
Simple and easy to apply.
It was so simple and easy to apply. The money was deposit in minutes. Thank you Oakam, I can go my holiday in confidence :)
July 11, 2021
Unprompted review
Quick and easy
July 10, 2021
Unprompted review
Thanks oakam
I was turned down by everyone but oakam gave me a chance. Payments sent out within seconds of acceptance and weekly repayments are really cheap. Thank you oakam
July 10, 2021
Unprompted review
It was so quick and easy will…
It was so quick and easy will definitely use oakem again
July 10, 2021
Unprompted review
Money was in within seconds of being…
Money was in within seconds of being accepted. Thank You Oakam, I will be sticking with you guys from now on. And I will be telling a lot of people about oakam.
July 8, 2021
Unprompted review
Want access to your online banking data!!
Oakam loans now use credit kudos to get a better picture of your financial situation before they approve you for a loan or top up loan.
Credit kudos asks for your permission to access your data through your online banking. They successfully connect and have access to your online banking data for 90 days and confirm this via email to you.
Your online banking will also confirm they successfully have access to your data for 90 days.
What happens next…. they state they “can’t connect” on your application page & that your loan can not be processed any further possibly because you have put the wrong online banking details in, yet your application has not been “declined as such via Oakham”.
They just want access to your online banking data.
Please make sure you revoke their permission via clicking the link they send you to your email and also stop them having access through your online banking by clicking settings & “third party permissions”
July 5, 2021
Unprompted review
Reply from Oakam
Hi Rebecca, Thank you for your review. We've tried to contact you to get more details on the issue here. Do please drop us an email to help@oakam.com and we can look into this for you. We use Open Banking to verify a customer's loan application details and it has enabled us to approve many more loans than relying on credit bureau data alone.
Credit Kudos “can’t connect” top up problems!
I am a loyal customer to Oakam and have topped up my loan a few times via the app with no problems over the past 2 years.
I Tried to top up the other day and now they use this third party credit agency called “credit kudos” whom want permission to access your data through your online banking to receive an accurate picture of your financial situation.
I Gave them my permission to access my online banking on the hope it would help approve my top up.
My banking says they have permission for 90 days yet my application could not be processed any further by Oakam as apparently credit kudos “couldn’t connect” to my banking and that maybe I entered my details wrong yet I received an email from credit Kudos stating they have access to my banking successfully and that they will have access to my data for 90 days.
My online banking also says they have been given permission successfully for 90 days.
Tried again multiple times it still said it couldn’t connect.
It’s clear my details are correct and they have permission to my banking data!
This has happened to other customers as per the reviews on here.
Sneaky if you ask me as they have access to your online banking data but won’t give you a top up loan… I think something fishy is going on! When I called Oakam to ask why credit kudos couldn’t connect when they have access to my banking, the man couldn’t really tell me why and said if it can’t connect it means you have to apply again in 10 weeks time. He didn’t really make sense with what he was saying as my application wasn’t declined as such.
It seems Oakham and this credit kudos want access to your banking data but not give you a loan. What they want the access for I don’t know!
Please make sure you cancel the permission through your online banking via the settings and the “third party permission tab” & also click the link credit kudos send you by email to revoke them having access.
Very frustrated loyal customer!
Also what’s going on with your rewards scheme.. it has been “coming soon” for 2 years now!!!
Initially I was happy with Oakams service but now I’m getting a bit fed up!
July 5, 2021
Unprompted review
Reply from Oakam
Hi Becca, First of all, thank you for leaving such a detailed review. This is really valuable to helping us find out what's happened here.
We've looked into the system that handles open banking requests and it looks like there was a technical issue processing your application using the data from open banking. We're aware that this has happened to a handful of customers over the past week and we're currently fixing the issue (thanks in part to your review!). One of the team will be in touch asap to let you know the outcome (should be tomorrow!).
For info, 90 days is the standard length of time for open banking requests and we only use your data to assess your loan application. It allows us to approve many more applications than relying on credit bureau data alone (which can be out of date or inaccurate). However, it doesn't guarantee you'll be approved for a top up or a loan.
We've reviewed our training for our customer team to ensure they can assist with these issues better in the future.
Finally, about points. We're aware we've been 'coming soon' this for a while and we are still working on it. Any points you've already earned will remain on your account until we're back in action. Sorry it's taking us longer than expected.
I hope this helps. We'll be in touch soon.
Thanks again,
The Oakam Team
Excellent.
Excellent.
No bull****, clear & transparent terms. Short application -- only essentials that matters to check basic credit score.
After checks -- if you not qualified for amount You selected -- they automatically offer you a lower ammount -- the one that they are willing to borrow you with your score. It's sounds like a small thing -- but its a big one really.
Money was in my account after literally 15min --- in the middle of the night -- 2am. They lying that they send the money only 3times a day --- THEY DOING IT INSTANTLY HERE&NOW -- so I can forgive them this small lie.
July 5, 2021
Unprompted review
Reply from Oakam
Hi Grzokoczo, Thank you for the review. I'm glad you found the application process straight forward. I'm interested where you heard that we only send the funds three times per day? We actually send the funds for our loans within a few minutes in most cases. Occasionally it can be held up by the recipient's bank, but this is rare. Please could you email us at feedback@oakam.com and let us know where you saw the information about three times per day, we'll make sure it's corrected. Thanks!
Brilliant service
July 5, 2021
Unprompted review
Excelent costomer service it's quick and easy to used no hassel at all…
quick and easy to used no hassel at all thanks in advance
July 2, 2021
Unprompted review
Really easy needed money quick and it…
Really easy needed money quick and it was in my bank within minutes
July 1, 2021
Unprompted review
Easy to use and safe
July 1, 2021
Unprompted review
Very fast payment in my account within…
Very fast payment in my account within 5 minutes of application good service repayments affordable
July 1, 2021
Unprompted review
Excellent service
Excellent service quick and reliable! Thank you Oakam!
June 30, 2021
Unprompted review
Ridiculous
Ridiculous, I have a good income and disposable income but yet I have been refused a top up. And also might I add I have never ever missed a payment on my account. No customer loyalty. I won’t be using Oakam again once I have payed my loan off
June 30, 2021
Unprompted review
Reply from Oakam
Hi Darren, thank you for leaving the review and we're sorry we couldn't help you out this time. Before we can make a decision on whether or not we can lend, we ask customers to complete an application for a new loan or a top up on an existing one. As a responsible lender, and to ensure we continue to comply with FCA regulations, all our loans are subject to an in-depth suitability assessment. This takes into account information we receive from UK Credit Reference Agencies as well as a full affordability assessment. Unfortunately, there are some applications that we are unable to approve. We’re sorry we haven’t met your expectations this time. If you would like to discuss this further, please do not hesitate to contact our Complaints team on complaints@oakam.com
The Oakam Team
Excellent company
Excellent company
Really helpful
Really understands of people needs etc
Very fast dealing with Loan applications and payouts etc highly recommend 👌
June 29, 2021
Unprompted review
Shocking company do not even bother…
Shocking company do not even bother doing the application
June 26, 2021
Unprompted review
Reply from Oakam
Hi there - we're sorry you didn't have a good experience. We've tried to reach out to understand what happened and what we can do better. If you'd like to contact us to help us improve our service, please email feedback@oakam.com and we'll get back to you. Thanks, The Oakam Team
Was fantastic done so fast I can’t…
Was fantastic done so fast I can’t believe I finally
Got credit
June 25, 2021
Unprompted review
Great company with really affordable…
Great company with really affordable weekly payments an options to pay off sooner also says money will be with you by next working day but then you receive a text within minutes saying the funds are in your account so brilliant if you need it quick would recommend Oakham
June 25, 2021
Unprompted review
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