The Money Shop Review 2018 [Read Our Experts Opinion]

Jane Wardle

Written by Jane Wardle on February 2, 2018

Updated February 26, 2018

Overall Rated: 4 / 5


Part of the second largest payday lender umbrella company, The Money Shop provides a range of financial assistance services for its customers both online and in hundreds of stores across the UK.

The Money Shop strives to be exactly as its title, a money shop. With hundreds of high street stores offering a range of financial services, they aim to be the place to go for customers with a variety of needs. Having these services running online and in-store allows for a greater range of needs to be met.

Starting with payday loans, The Money Shop is a member of Consumer Finance Association (CFA), a recognised association of payday loan companies that work closely with the government to ensure regulations are met and continually complied with.

In more recent years the company has branched out to offer a different range of financial services including providing competitive rates for travel money and a Money Shop Plus benefit scheme that companies can join for their employees to get competitive travel money deals and prepaid travel cards. Offering a range of products ensures the business keeps excelling within the financial service industry and meeting the demands of customers.

Trust & Reputation

Rated 5/5

The umbrella company of The Money Shop, previously Dollar, now Instant Cash Loans Limited, is known as the second largest payday lender company. Firstly the reputation of this umbrella company and their membership in the CFA gives the company a very public and highly regarded reputation within the industry.

The company offers a range of different services for their new customers, as well as for those existing. The range of services available, with a focus on new and long-term clients, shows the company cares about all stages of customer service, not just the initial contact with potential customers.

Running hundreds of high street stores in the UK allows for a variety of communication options for customers needing assistance. Customers with the ability to visit stores can use in-house advisors to submit applications and also track and upkeep their current loans and payments. Alternatively, a well-developed online portal is ideal for keeping track of your account.

Expertise & knowledge

Rated 4/5

While The Money Shop offers a range of different services, their most popular product is their payday loans. Offering an amount from £50 to £2,000 for a loan length of three to nine months, the flexibility is ideal to meet the needs of a variety of customers.

The online representative example shows: £300 borrowed for six months: an annual interest rate of 179% (fixed). Total amount repayable is £450.18 in six monthly instalments of £75.03. Representative 447% APR.

Looking at online comparison sites for payday loans, The Money Shop charges anywhere from £4.69 to £314.86 less than all of the payday loan providers shown, including CFA partners Lending Stream, My Jar, and Sunny loans. The competitive pricing and popular reputation ensure that the company stays ahead of its competitors in all aspects. Being a member of a successful umbrella company also provides the company with a vast knowledge base to draw further expertise from.

Customer Service

Rated 5/5

The high quality of customer service based reviews on Trustpilot shows that the company to maintain an excellent level of customer service, and this quality keeps their customers returning. On Trustpilot, The Money Shop boasts an impressive 9.1 out of 10 with 78% of customers regarding The Money Shop as excellent, 14% as great and only 3% as bad. These results are accumulated from over 2,800 reviews meaning the results are formulated from a high quantity of reviews.

The positive reviews come from a range of different reasons, namely the speed and simplicity of the online application.