Speedy Cash Store Loans | www.speedycashloans.co.uk

Last Update: December 6th, 2016

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Speedy Cash Store LoansWe previously touched on the closure of the Speedy Cash Online Loans and will today discuss their retail network. Our local Speedy Cash store in Stockport was recently closed that wasn’t a big surprise considering that it was always empty. They have gone on to close 10 of their stores in total. This takes their network tally from 23 to 13. They have a branch in Birmingham and Nottingham, whilst every other store is bunched together around London. On a recent visit to www.speedycashloans.co.uk they informed of their online loans being suspended and things weren’t looking great. However, on the latest check-up they have handed the site with a major overhaul and now promote 2 loan products.

The short term offering heads £50 to £750 when you are next paid between 21 and 57 days. The charge meets the cap and so £100 over 30 days equates to £24. The extended option sees amounts headed of £100 to £1000 with the term range this time being 4 to 6 months. They do reference interest as being charged at 0.75% daily here, but from the example they provide this is taken against a reducing balance. From running a calculation based on the example that they provide, £300 over 6 months would cost £254.09 (works out at 0.471%). They advise potential customers to bring in photo ID and a recent bank statement.

There is no such Speedy Cash login housed at www.speedycashloans.co.uk and so customers will need to visit them to perhaps get an advance or to settle early. From their branch listings, other financial products are highlighted. This includes cheque cashing, foreign exchange and money transfer. All of their stores have shared opening hours of Monday to Saturday from 9am to 5.30pm. This means that they shut on Sundays that hasn’t always been the case. On the newly revamped site they refer any online leads on to WageDayAdvance. This company was acquired back in 2013. The overall group owner has recently changed their name. They are now known as CURO Financial Technologies Corp.

This owner who has been active since 1997 may have struggled in the UK in recent years, but they do look to be progressing well in Canada and the United States. Their collective network sits at 420. Speed’s tally in the USA is 194 (plus the 13 in the UK). Rapid has 23 and Cash Money represents 190. When this company had arrived locally in 2010, they were intent on major retail expansion. The WageDayAdvance acquisition solidified their credentials, but then we of course saw industry capping in early 2015 that is where things turned sour. It has been good to see the revamp here, but it doesn’t make much sense that they’d choose to stay off the web.