The Money Shop Store Loans | www.themoneyshop.com
The Money Shop was the dominant high street payday lender with 550 stores at their peak. Step forward to 2016 and this network has shrunk down to 300 that may still be the largest chain, but they had planned several years back to reach 1200. Their very first store was opened in Nottingham in 1996. The brand would later be acquired by DFC Global Corp (known then as Dollar Financial Corp) that was back in 1999. Other than www.themoneyshop.com, DFC also serves the UK online through Payday Express and PaydayUK. Offline, they also own 5 Suttons & Robertsons stores plus a branch of Duncanson & Edwards and also Robert Biggar (each in Scotland).
The Money Shop stores showcase a wide range of services from cheque cashing, to foreign exchange, to pawnbroking etc. Once mostly associated as a payday lender, they have now moved away from this niche, instead offering terms of 3 to 12 months on amounts of £100 to £2000. We did notice in their in-store help area that the starting sum is listed as £50 that looks to be a minor difference between offline/online unless it is a typo. One significant difference is that in 51 locations only you can now receive a personal loan. The amounts are £2010 to £5000 taken over 3 years. This was seen in for instance Carlisle, Grimsby, Redditch, Shrewsbury, Stockton, Tamworth etc.
On a past check this tally stood at 17 and so it is clear that they have been busy getting this product out across their network. This personal lending option may not be available online, but there is guarantor loan section where they are in fact referring users on to George Banco. TMS has actually only been lending directly online since 2015. Before this time they has been sending business on to their sister brands (Express/PDUK). This main instalment product is priced well. When borrowing a £300 sum you’d be looking at a charge of £110.97 over 3 months or £143.04 over 6. Every customer can service their loan with ease through the provided login facility at www.themoneyshop.com.
Whilst being downsized, they still command a major high street presence. When visiting you’ll need photo id, proof of address (dated within 3 months) and proof of income such as a bank statement or pay slip. In most cases The Money Shop store opening times are Monday to Saturday (9am to 5.30pm). There are often exceptions that we spotted in specific London areas. Marble Arch was for instance open from Monday to Saturday between 7am and 10pm and on Sundays from 10am to 10pm. Their web support times differ as 8am to 7pm during the week and 9am to 4pm on Saturdays. There is a chance of funding on Sundays for existing customers assuming that the application isn’t flagged.