247Moneybox Review | www.247moneybox.com

247Moneybox

Last Update: January 15th, 2017

About…
Address: 20-22 Wenlock Road, London, N1 7GU.
Branding: 247Moneybox. AKA: 247 Moneybox.
FCA Licence: 673915.
From: Active Securities Ltd.
Launched: 2009.
Memberships: BCCA.
Related: No companies.
Website: www.247moneybox.com.

Product Details…
Bad Credit 247Moneybox Loans Available?: Yes.
Manage: 247Moneybox login provided via www.247moneybox.com.
Offers: Payday loans.
Opening Hours: Monday to Friday (8.30am/6pm)
Secure (SSL): Yes.
Sums: £80 to £200 (new) | £800 max (returning).
Terms: 1 month.

The Pricing…
£24 /£100 (30) <0.800%>

Notes: Although the customer care lines are restricted between the days of Monday and Friday, existing customers can access cash at any time (should no flag be made).

Noteworthy…
– International: This brand has been expanding outside of Britain. They initially spread to New Zealand and they have built a website for Canada although they are currently not actively trading there. This expansion is promising, although it is strange for them to have moved straight to New Zealand where the payday industry is small at this time. As as update, both sites have now closed.
– Operations: Applications for new customers are not processed over the weekend. However, as a returning customer you can request more funds at any time. Assuming that their system approves this new request it is possible to receive cash 24/7.
– Profile: A clear sign of this lender’s prominence can be seen on their social following over on Facebook. Here they have racked up over 87,000 fans. Only Wonga currently has a larger following than this. Further to this, their customer reviews online have always been favourable to the quality of service received.

Updates…
– Address updated.
– Pricing has historically been expensive here, but you now just pay £24/£100 borrowed. To provide more info surrounding the previous costs in place, the interest charge was set at 1.3% daily that equated monthly as £39. Further to this there was an extra fee if you wanted to receive same day funding. A slow transfer came at no cost that would typically take around 3 days to clear. The same day option was £15, but it also took on the same interest rate of 1.3%. Over 30 days this added an extra £5.85 on top and so collectively over the month you would pay £39 + £15 + £5.85 = £59.85. In comparison, you now pay £24 that just shows what effect the new cap has had on the industry. Now that the cost issue has been fixed here, this lender looks much more appealing, especially since loyal users can benefit from funding around the clock.

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