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LAST UPDATED: April 23rd, 2021

Amscot Financial, The Money Superstore, was founded in 1989 in Tampa, Florida. It is the leading non-bank lender in Florida and operates 240 store locations. The company’s name is a mashup of America and Scotland and is named for Founder and CEO Ian MacKechnie’s ancestral land and his new home.

This lender offers a variety of financial services, including cash advance loans, also known as payday loans, up to $500, in increments of $50. Borrowers are charged a $2 verification fee and a 10 percent finance charge based on the amount borrowed. These easy payday loans are done without a credit check, so bad credit may not hold you back.

Basic requirements for Amscot cash advance services: 

  • At least 18
  • Florida resident
  • Verifiable proof of income
  • Phone number
  • Checking account open and in good standing
  • Valid government-issued photo ID card (driver’s license, passport, etc.)

In addition to cash advances, Amscot locations also offer the following financial products and services:

  • Amscot Prepaid MasterCard
  • Bill pay services
  • Money wiring
  • Check cashing
  • Money order cashing
  • Fax services
  • Copy service
  • Stamps
  • Low-fee ATMs

Amscot Financial is a member of the Community Financial Services Association of American (CFSA) and abides by its Best Member Practices. The company’s founder and CEO, Ian MacKechnie, even serves on the group’s leadership board. 

Read on for pros and cons of working with this payday lender.

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The Good

  • Open Every Day
  • Alternative Payment Arrangements
  • Flexibility

Open Every Day

One thing that helps Amscot stand out is that its stores are open seven days a week, including early morning and evening hours. Some locations are even open 24 hours. These convenient open hours benefit people that may not have the opportunity to get last-minute cash during regular business hours. 

Alternative Payment Arrangements

If borrowers can’t pay back a cash advance debt on-time, they may be eligible for a grace period or extended payment plan. As a member of the CFSA, the lender has to offer a reasonable payment plan, including no-cost extended payments for single-payment small-dollar loans.

Amscot does not offer automatic renewals, so customers must contact the lender for assistance.

Non-payment does not affect your credit score with the traditional credit bureaus. While we always recommend that you make your payments on-time. It is always helpful to know about late payment policies in advance. 


What happens if you change your mind or find another source of funding? With Amscot, you can return your cash advance with no fees by the end of the following business day.


The Bad

  • Online Applications
  • Florida Only
  • Industry APRs

Online Applications

While potential borrowers can start the application process online, it isn’t a full application, nor does Amscot offer online loans. Customers will have to visit a local retail branch to apply for a line. This means that Amscot employees and the chain's customer service experience will have a huge effect on customers. This can be either good or bad, depending on the individual employees that are helping customers. 

Florida Only

Amscot only operates in Florida.

Industry APRs

As with all payday loan companies, Amscot’s small dollar cash advances are expensive.

In the local payday loan market, how does Amscot stack up?

Amscot charges a $2 verification fee and charges a finance charge of 10 percent of your borrowed amount. Here is a comparison:


Loan Amount

Verification Fee

Finance Charge


Total Payment







Check ‘n Go






Ace Cash Express






Cash Central








The Bottom Line

Amscot offers bad credit lending and financial services to residents of the state of Florida. It offers unparalleled customer service availability with 240 locations, all of which are open seven days a week and some of which are open 24 hours a day, just like convenience stores.

At this time, we need to collect a few more Amscot reviews from customers before we can confidently recommend this retail financial company. Have you had an experience with Amscot? Let us know with a quick review below.

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Kim Pitts Clermont, FL

I will never borrow money again from Amscott! I called at the end of the week, it was a Thursday or Friday. I told them that the bank was automatically taking the mortgage payment, that I would have to pay them on the next Wednesday pay period. The young man said no problem, I received a reminder text a few days before the original date agreed upon. I didn't think anything about the text, because I spoke with someone who I gave my Social Security Number too and he said no problem!! I spoke with the Manager at the Winter Garden Florida Branch asking why they were overdrawing my checking account when I was approved by Amscott to pay the next pay period. She was very harsh and did not care. I called Amscott's Customer Service, they did not care I was wasting my breathe!! All I heard was did you get a text? I said yes and a employee said I could have an extension!! Did I get a phone call? I said no!! If I would of got a call I would of asked what about my extension?? I went through all my old voicemails just in case I did miss something, because Amscott does not make any mistakes😂. Well I found a voicemail I thought was my three year old Granddaughter. If you are very quiet you can hear the word Amscott, but that is the only word I understood. This woman or girl whispered during the complete recording, the employee needs to be able to speak loud clearly enough to be understood. I'm not made out of money, and I have found out Amscott does not care.

4 years ago