Speedy Cash, the trading style of SRC Transatlantic Ltd, has been told by the Advertising Standards Authority (ASA) that it must not show one of its television adverts again in its current form.

Following a complaint, three issues were investigated by the ad, of which two were upheld and one was not upheld.

A TV ad for Speedy Cash voice-over stated, “… those pesky unexpected bills … A flex loan from Speedy Cash could help take the weight off your shoulders … unlike some payday loans, if you borrow say £100 with a flex loan, you pay just £22.60 in monthly interest.” Text shown in white against a moving but primarily pale background at that point stated “Representative Example, Borrow £100 for 30 days and make a single repayment of £122.60. Interest is charged and applied daily at the rate of 75p per day, per £100 borrowed, equating to an annual rate of 275% (fixed). 1373.8% APR representative”. The on-screen text then changed to “Loans subject to status and affordability. Applicants must be over 18. T&Cs apply”. The background at that point was mostly blue or brown and the voice-over stated, “… just £22.60, versus as much as £29!”

The ad featured a man standing beneath a sign stating “UNEXPECTED BILLS” who was struggling to lift weights, whilst an actor in a kangaroo suit standing beneath the sign “SPEEDY CASH FLEX LOANS” was able to lift his above his head easily. The voice-over was in the style of a conversation, with the characters affecting a grandiose manner of speaking, using terms such as “I say”, “Oh, blast!” and “wizard!”. A short jingle played at the end of the ad.

The complainant challenged whether the on-screen text was legible. The ASA challenged whether the APR was displayed with sufficient prominence and whether the ad was irresponsible, because it trivialised the nature of the product advertised.

Although the ASA was satisfied with the presentation of the second set of on-screen text, it considered that the moving background and colour combination between the background and the first set of text were likely to distract viewers and make it difficult to read the information, despite the fact that it was shown for a period exceeding the recommended hold duration for on-screen text. On that basis, it concluded that that set of on-screen text was not sufficiently legible and breached the Code.

On that point, the ad breached BCAP Code rules 1.3 (Compliance), 3.1 and 3.2 (Misleading advertising), 3.11 (Qualification) and 14.11 (Lending and credit).

On the second point, because the ASA considered that the representative example, which included the RAPR, was insufficiently prominent with regard to triggers in both the voice-over and on-screen text, it concluded that the ad breached BCAP Code rules 1.3 (Compliance) and 14.11 (Lending and credit).

With regard to the final point, the ad watchdog noted that the ad primarily focused on the credit product as being of interest to those who had received unexpected bills, and considered that it did not go so far as to imply that a short-term loan should be taken out for frivolous reasons, or to encourage irresponsible spending on non-essential items.

The ASA considered that both the tone of the voice-over and the portrayal of the actor in the kangaroo suit lent the ad a light-hearted air, which was further enhanced by the short jingle at the end of the ad. However, although the tone of the ad was upbeat, it were satisfied that the information about the loan was presented in a responsible manner and that the overall effect was not to trivialise the nature of the product advertised. On that basis, it concluded that the ad was not irresponsible.