Personal Money Store Review

Personal Money Store ReviewPersonal Money Store wants you to think of them as your very own personal money store, one that you can return to again and again whenever you need money. Wouldn’t it be great to have your own shop where you go when you need money, and you can just get what you need without a hassle? Let’s see if they can deliver on this promise.

They say you can get your cash in as little as two hours, which sounds attractive if you are in dire straights, but know this: it’s likely not going to be in your account in two hours. They are likely referring to them approving you within two hours. They may tell you that the money has left their end, but that does not mean it will magically show up in your account. Just be sure that you know what it is they’re talking about and when you can expect your cash.

They actually say that you’ll get the money deposited in your account in two hours. This just isn’t true, and what’s more they have no right to say it because they are a not a lender and they can’t promise things on behalf of another company. Nor are they your bank and they don’t even know which bank you have so they can’t say with any sort of certainty how fast you’ll get your money. Don’t fall for it!

They say if you need less than $500 you’ll get an easier approval than if you need more than that. This is because they need to verify things more if they’re going to lend you more money. This is the first time we’ve seen a lender way that you’ll have an easier time getting lower amounts.

Personal Money Store Review – The Numbers

Personal Money Store gives the example of different types of fees you’ll pay for not having enough money, and how this relates to their fees. They charge $15 on a $100 loan, and that would definitely be better than an NSF fee from your bank, or a late fee on a credit card. Unfortunately this situation almost never pans out, and you will take out more than $100 and pay more than $15 in fees to the payday lender. Not only that, but if you fall into the payday loan trap you could pay hundreds of dollars over time and simply take on a new monthly expense.

This is a ploy that is often used by payday lenders to get you to think that you will actually save money by getting a payday loan. But the truth is that this situation rarely plays out, and you’ll be stuck with a loan that is larger than $100, and still get hit with overdraft and late fees as you scramble to make ends meet. And since you have to pay back the entire loan on your next payday, you’ll have to re-loan the money to make ends meet until the following payday, taking on more fees and extending your financial mess further and further.

Secure Application
At least they got one thing right and are hosting the application on a secure server. If you do decide to go with them you can trust that your information will be sent securely. What they do with your info is another matter, they may send it to any number of lenders, but if they are a true matching service they will try to pick lenders that lend to people with your profile.

Our Recommendation
Personal Money Store is not a lender, they are a matching service that is trying to get you to apply at their site so they can make some money off of you as a lead. There are some misleading claims, but that is pretty much standard in the industry unfortunately. We’d like to see them take down any claim that states when you’ll get your money, because saying that you’ll have it in your account in 2 hours is a flat out lie. You can expect to see it the next business day, or demand some sort of proof that they’ve actually deposited money into an account in 2 hours. They can’t prove it.

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