Since opening its doors in 1997, Speedy Cash has become one of the largest, fastest growing providers of short-term loans and financial services in the United States, Canada, and the United Kingdom.
The company offers a variety of convenient, easily-accessible financial services, such as payday loans, title loans, installment loans, lines of credit, check cashing, cash for gold, and prepaid cards. Speedy Cash is proud to serve their customers in physical locations, online, over the phone, and via a mobile app.
Keep reading for pros and cons, plus Speedy Cash reviews from real customers.
Speedy Cash provides several types of loan options to borrow. The type of loans available and their associated costs and fees are dependent on the state regulations, credit check, and other approval methods. Speedy Cash loan options include the following:
Along with these loan options, Speedy Cash has a couple of policies that we would like to highlight.
With this lender, applicants who apply online or in a Speedy Cash store can get same day funding.
Online applicants can fill out a quick loan application and get an instant lending decision. Most online loan applications can be approved without needing to fax or scan-in any documents.
If approved, you get to choose between three ways to get your money. The fastest way is to get it deposited on an Opt+ Prepaid Visa debit card, the next fastest way is to pick up the cash loan at a local Speedy Cash location, and the slowest is to have it deposited into your bank account, which can take one business day.
Customers who fill out a lending application in-store can get a loan in about ten minutes and be on their way.
Several customer service contact methods are available for borrowers who have questions about their loans. You have the option to search for your local representatives on their website by simply selecting the state that you are currently residing in. Each customer can contact the general customer service by phone or email to receive answers to questions. Additionally, you can contact different departments based on questions and concerns that might arise.
At Speedy Cash, the privacy and security of your personal and financial information is their top priority. The Speedy Cash Security Center provides you with resources to help you maintain your security. From this page, you can learn how to safeguard your money and your identity.
Speedy Cash has broad availability across the U.S. but it should be noted that they are not available in all states. Currently, they are available in 27 out of 50 states, mostly on the west side of the United States. Make sure to check if they are available in your state before beginning your loan application.
As with all short term lending options, interest rates with these types of financial institutions can be very high, up to several hundred percent APR. A consumer should know that these types of loans are not a long term financial solution.
When applying for a loan with Speedy Cash, you will be faced with additional fees.
Some installment loans can carry origination fees up to $75.
With a Speedy Cash line of credit, fees are based on daily interest. Your minimum loan payment will be 2% of the principal, plus the accrued interest at 0.9863014% daily interest (which corresponds to 30% per month, or 360% annually).
Because the loan terms vary from state to state, customers should be prepared to read the terms of their specific loan very carefully before signing.
While it is awesome that Speedy Cash provides a way for customers to get quick funding through the exclusive Opt+ Card line, they are only available at Speedy Cash locations. To get one, customers have to show a valid ID, mailing address, and a social security number, and be somewhere near a Speedy Cash store. That rules out this funding method for customers who got their loan online, meaning that they really have to wait until the next business day for their money to be deposited in their checking account.
FYI: They offer three types of cards: a Direct Deposit Card, a Monthly Card, and a Pay as You Go Card and each carry fees. The first two have monthly payments of less than $10 and the third has customers pay as they use the card.
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Was skeptical at first about a loan, but they were clear in their terms, rate and payback date. They helped a ton.
Speedy Cash was there for me when I had a cash emergency. The staff was very friendly and helpful they really made me feel comfortable. Everything about the loan was explained in detail and all my questions were answered immediately.
Quick, easy, and gave me a large enough loan that I did not need to go and try and get a loan anywhere else. Thank you!