Money Boat Review | www.moneyboat.co.uk

Money Boat

Last Update: October 31st, 2016

About…
Address: 3-7 Sunny Place, London, NW4 1RS.
Branding: Money Boat. AKA: MoneyBoat.
FCA Licence: 674154.
From: Evergreen Finance London Ltd.
Launched: 2014.
Memberships: CCTA.
Related: No companies.
Website: www.moneyboat.co.uk.

Product Details…
Bad Credit Money Boat Loans Available?: Yes.
Manage: No Money Boat login at www.moneyboat.co.uk.
Offers: Instalment loans.
Opening Hours: Monday to Friday (8.30am/5.30pm).
Secure (SSL): Yes.
Sums: £200 to £800 (new) | £1500 max (returning).
Terms: 2 to 6 months.

The Pricing……
£130.79 /£300 (3) (discount) <0.484%>
£135.30 /£300 (3) <0.501%>
£251.65 /£300 (6) (discount) <0.466%>
£255.91 /£300 (6) <0.474%>

Notes: Their calculator shows prices for an applicant being paid on the last working day of the month. We lined our example up to the last working day to give a more accurate estimate of how they compare (at 90 days). The discount is discussed further below. Applicants must have a monthly wage packet above £1000.

Noteworthy…
– Amounts: With trust earned, £1500 is available on re-loans.
– Review Discount: This is an interesting initiative that will help to attract new business. We spotted it when making a specific Google search that took us to the promotion’s terms and conditions page (https://www.moneyboat.co.uk/promotional-terms-and-conditions/). This is a 10% discount on the interest of the first payment. In our example the repayment was £145.10 and so £45.10 of this was interest (£45.10 x 3 = £135.30). The saving in this instance at 10% was £4.51. In the 6 month example the saving was £4.26. To qualify, you simply leave feedback on your experience at the Review Centre. Make sure you contact them for confirmation before leaving it. A saving can only be made once.
– Reviews: This is not so much of a noteworthy point since these reviews are incentivised. Emerging as they have has however been impressive considering that they only launched back in 2014. Money Boat takes the 2nd best category ranking at the Review Centre that shows that their promotion is working well. They had around 400 reviews and then the Lending Stream had over 3100 in the top spot (unrealistic validity considering that Wonga only has 360ish).

Updates…
– Address has changed.
– Owner previously operated as Quid 4 Payday Ltd.

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