Yes, a top-up is a loan. When you join SteadyPay, you enter into a credit agreement with us that is regulated by the Consumer Credit Act and authorised by the Financial Conduct Authority.
But it's different kind loan. With banks and traditional lenders you have to pay interest; we do not charge any interest.
With banks and traditional lenders, you take out a fixed loan; we provide credit whenever you are paid below usual. When this happens we advance you money to bring your pay back to usual, so you can stay on top of your everyday expenses.