The Money Shop Review

The Money Shop ReviewThe Money Shop offers a host of financial services to meet your different needs, including check cashing and payday loans. They’re really aiming at being able to handle whatever you need done, so let’s see how they measure up.

They’re based out of the UK, and they say that they have over 500 locations to serve you, and several of them are even open on Sunday. You’ve probably noticed them around town and are trying to determine if they’re the right company to go with.

It’s important to remember that there’s no shortage of lenders out there that would love to lend you money in exchange for the fee, so you’re the one with leverage here even though it might not seem like it. Being selective is important because you don’t want to miss out and go with a lender that charges fees that are too high, or wants their money back sooner than another. You also don’t want to go with an unscrupulous online lender that will charge ridiculous rates and only add to the financial burden you’re facing.

Our Review of The Money Shop

One thing that you’ll want to note is that The Money Shop is able to provide loans both online and in store. This is important because with many places it’s either one or the other. And since there’s no much overhead in running an online payday website, you get many shady companies popping up incessantly. There are few online lenders that also maintain a physical presence, so it’s always a good sign to see that they’ve got their business model in order.

Their customer service is one of the points that they stress, and this is one of those finer details that can really separate one lender from another. If they’re able to provide you with a more pleasant experience and answer all of your questions knowledgeably they should get the chance to earn your business over another lender. You’ll find that in many instances there are incompetent workers at the customer service lines, so it’s nice that they man their phones with friendly reps that can answer any question you have.

Check Cashing
Check cashing and payday loans go hand in hand, and if you need one there’s a high chance you’ll need the other sooner or later. It becomes a matter of circumventing your bank account, cashing checks instead of depositing them, and getting an advance on your pay so that you can take care of your bills and make it through until your next paycheck. They’re able to cash checks in a flash, so you won’t be standing around waiting for your money, you can leave with cash in hand and without the hassle of waiting for the money to clear through the bank. Bonus!

Foreign Currency
Before you go on a trip you can use The Money Shop to get some cash in the local currency. They say that there’s no commission, which means that their fee is already calculated into the rate you’re getting, but it should still be better than the tellers you’ll find in the airport. It’s always a nice feeling to have some cash from the country of your destination so you can hit the ground and go rather than worrying about where to get money from.

Higher Loan Amounts
They’ll loan you up to 1,000 pounds which should be enough to cover most any financial crisis and smooth things over until you get paid again. Some lenders out there will only lend a few hundred quid, so for big problems you’re out of luck. It’s nice to be able loan larger amounts if your income can justify it. As with most payday lenders your job is your collateral, and everything hinges on how much you take home and are able to reasonably repay.

Our Recommendation
With so many different services available, and a track record of success, this is one company you can trust with your financial needs. It’s up to you how much or how little you want to use their services, but for most people this represents an easy way to get access to cash, either by cashing a check or getting a short-term loan until payday.

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