Speedy Cash Logo

Speedy Cash

star star star_half star_border star_border

3.1

Overall Score

error This company may not service all states.
See states serviced
LAST UPDATED: February 7th, 2024

Since opening its first store in 1997 to introducing online loans in 2008, Speedy Cash has become one of the largest, fastest-growing providers of short-term loans and consumer financial services for people in the United States who have less-than-perfect credit. 

The company offers a variety of convenient, easily-accessible financial services for emergency cash situations. Products include the following:

  • Payday loans
  • Title loans
  • Installment loans
  • Lines of credit
  • Check cashing
  • Money orders
  • Prepaid cards 

Speedy Cash is a member of the Online Lenders Alliance and offers loans in physical locations, online, over the phone, and via a free mobile app.

The company also gives borrowers the option to choose to receive online funds instantly with a debit card. In fact, Speedy Cash is one of the first online lenders to offer this type of instant funding option. 

Keep reading for pros and cons, plus Speedy Cash reviews from real customers. 

thumb_up

The Good

  • Loan Options
  • Lending Policies
  • Instant Funding
  • Application Process
  • Customer Service
  • Security Center
  • Responsible Lender

Loan Options

Speedy Cash provides a variety of loan options: 

  • Payday loans — These loans are also known as cash advance loans, deferred deposit loans, and payday advance loans. Payday loans are typically due to be repaid in full on the borrower's next payday and do not require a high credit score for approval.
  • Installment loans — These loans are paid back with equal payments over time with a set number of scheduled payments. Typically these payments are scheduled around the borrower's payday.
  • Title loans These types of loans allow the borrower to use their vehicle title as collateral. The loan amount is based on the value of the vehicle. The lender's name will be based on their title until the loan is paid in full.
  • Personal lines of credit Similar to a credit card, this is a loan where the borrower is approved for a maximum loan amount and can take out money as needed until the maximum limit is reached.

Speedy Cash provides detailed information regarding maximum loan amounts, example finance charges and APR (annual percentage rate) ranges for its loan products on its rates and terms website page. Typically, Speedy Cash offers loans from $50-$26,000.

Lending Policies

Along with several loan options, Speedy Cash has a few policies that we would like to highlight:

  • 72-hour satisfaction guarantee — If a customer takes out a loan and then changes their mind, they can return the funds without paying any fees. 
  • No early payment fees — If customers decide to repay the balance before the end of the loan term, there are no early prepayment penalty fees. Depending on the type of loan, early payoff can save borrowers money on interest and fees. 
  • Credit limit increases — Speedy Cash regularly reviews its customers' payment history and will offer credit limit increases (or a higher loan amount) to qualifying customers.

Instant Funding

Speedy Cash is one of the first online lenders to offer an option to receive online loan funds instantly to a debit card. 

Debit card information must be provided on the online application and if a customer's debit card qualifies, "Instant Funding to a Debit Card" will appear as a funding option.

Application Process

In many cases, online applicants are presented with a lending decision in a matter of minutes after completing their loan application. 

Some applicants may be asked to provide further documentation, such as a valid form of identification for security purposes or proof of income, before receiving a decision. These documents can be provided in the form of a screenshot, fax, or email.

The company's in-store application process is also fairly quick. From the application to receiving cash, the process is about ten minutes. This process guarantees same-day cash if the application is approved.

Speedy Cash has the following basic loan eligibility requirements:

  • Meet the age requirements in your state (18 in most states)
  • Valid photo ID
  • Email address 
  • A steady source of income 
  • Checking account

Customer Service

Several customer service contact methods are available for borrowers who have questions about their loans. 

Speedy Cash has a U.S.-based call center that takes phone calls seven days a week. Representatives assist with taking payments, refinancing loans, and applying for a loan over the phone. Customers have the option to search for their local representatives and storefront on the company's website by simply selecting the state that they are currently residing in. 

Security Center

There appear to be a significant number of scammers who try to gain access to consumer money by claiming to be Speedy Cash.

Speedy Cash aims to protect consumers and combat scams with an online security center that details known debt collection and loan scams, as well as warning signs for these scams.

The security center includes the email and phone number for the Fraud Department, so customers can easily report any suspicious communications from Speedy Cash to verify validity.

Responsible Lender

Speedy Cash belongs to the Online Lenders Alliance, which is a trade association that ensures borrowers are fully informed and fairly treated. 

By being a member, Speedy Cash must adhere to the alliance's Code of Conduct and Best Practices.

Speedy Cash is licensed in all states that require a license. The company displays the license for each state on the rates and terms pages on its website.

Visit Site

thumb_down

The Bad

  • Loan Availability
  • Consumer Loan Cost
  • Additional Fees to Pay

Loan Availability 

This lender has broad availability across the United States, but it should be noted that its loan services are not available in all states. 

Currently, Speedy Cash loans are available in 28 out of 50 states. Potential borrowers should check if this lender is available in their state before beginning their loan application. 

Consumer Loan Cost

As with all short-term lending options, payday loan lenders can have high interest rates, up to several hundred percent APR. 

Potential borrowers should remember that these types of loans should be used for short-term financial needs only and not as a long-term financial solution. 

It's also worth noting that many of the loans Speedy Cash offers have loan terms less than a year. This means that looking just at the APR can make the interest look higher than it actually is. 

Additional Fees to Pay 

When customers borrow a loan with Speedy Cash, they could be faced with additional fees. With a Speedy Cash line of credit, fees are based on daily interest. 

Because the loan terms vary by state and product, borrowers should be prepared to read the terms of their specific loan very carefully before signing any loan documents. 

gavel

The Bottom Line

Speedy Cash has over 23 years of experience as a short-term lender and is one of the most recognizable in the industry, providing a variety of services for borrowers who may be looking for a payday loan, installment loan, or money order among other offerings. However, Speedy Cash payday and installment loans are not available in every state. Additionally, users may face additional transaction fees when borrowing from this lender.

With Speedy Cash, borrowers have the option to select from a wide range of small-dollar loans that will fit many different types of short-term financial needs. 

The company's security center helps borrowers practice financial safety and offers a way to receive loans that are eligible and fraud free. 

Potential customers should note that Speedy Cash is recognized as a responsible lender and offers a free mobile app, as well as an instant funding option. 

As with all bad credit personal loan or payday loan providers, this is not a long-term financial solution, and if borrowers fail to make payments, they can end up deeper in debt.

Those interested in Speedy Cash can visit the company's website and read customer reviews to learn more about the company's lending services. 

Was this content helpful?
thumb_up Yes thumb_down No

Star Rating

info

2.4

star star star_half star_border star_border

23 Reviews

Review Breakdown

5 grade

17%

4 grade

17%

3 grade

4%

2 grade

4%

1 grade

57%

Sentiment Criteria

Value

star star star_border star_border star_border

Quality

star star star_half star_border star_border

Service

star star star_half star_border star_border

Trustworthiness

star star star_half star_border star_border
cancel

Filter by:

arrow_drop_down

Sort by:

arrow_drop_down
info
star star_border star_border star_border star_border

Hank Ricardo Winnipeg, MB

They said my income wasn't eligible, I corrected them and it was. Then I got a rude response saying " you didn't qualify for the min amount" yet I take home 4k a month. So which is it? Bad customer service, and also I took them 3 days to respond to my email. Stay away from them .

1 month ago Edited February 7, 2024

star star_border star_border star_border star_border

Hannah Mitchell Pflugerville, TX

Would give it 0 stars if I could. This loan company STEALS money out of your bank account. I was given a $300 dollar loan in July 2023 to be paid off in December 2023. They are supposed to take ONE payment of $84 out of my account per month. They took the first payment of $84 out of my account on Aug. 2nd. Imagine my surprise on Aug. 16th when I see ANOTHER $84 payment come out of my account. This put me into the negatives. Then, this morning, Aug. 17th, ANOTHER $84 is taken out of my account. At this point, they are STEALING. I have tried over and over to get in touch with someone from Speedy Cash. I call the customer service number, and either I'm put on hold for hours and no one answers, or it directs me to an automated system that tells me my account does not exist. I have sent several emails to customer service, and have gotten no response. I WILL be contacting law enforcement and disputing these charges with my bank. This is ridiculous.

7 months ago

star star_border star_border star_border star_border

Ashlyn Crites Arlington, TX

Speedycash just Harasses you nonstop calling you everyday about your debt from not paying your loan which I have told several times THAT I GOT LAID OFF and not only did I got LAID OFF speedycash also overdrafted my bank without my permission WHEN I HAD NO MONEY $0!!! i now owe my bank $363 and i kept telling speedycash that they placed me in the negative where I OWE MY BANK and told by my bank IF I DONT PAY IT OFF THEY WILL SHUT MY BANK DOWN where it will definitely be impossible to pay speedycash if I don’t have a bank to receive my money from a job like why not let the debt collector handle it by just mailing me my debt instead of harassing me by calls everyday?! after being harassed so badly I had to keep blocking their numbers but then they use other numbers!!! SPEEDYCASH NEEDS TO CHILL OUT! i understand YES I know I owe y’all but that’s something I couldn’t help or control JUST BE PATIENT AND WAIT TILL I PAY OFF MY DEBT WITH MY BANK! since clearly y’all didn’t care when y’all put me in debt with my bank REFUSED TO REFUND ME JUST TO AVOID THAT SITUATION!!! THATS YALL FAULT FOR PUTTING ME IN DEBT WITH MY BANK!!!!!!!, AFTER I PAY THE DEBT THEN THATS WHEN ILL PAY THE OWED DEBT TOWARDS SPEEDYCASH LIKE DAMN SIT THE FUCK DOWN! after I was jobless for awhile been to like 100 interviews I FINALLY got hired but they still kept harassing me WHILE IM WORKING were not allowed to have our phones out while working or else us employees will get terminated! I AM NOT RISKING TO LOSING MY JOB TO ANSWER YALLS CALLS!!! i am so DONE! i got so tired of it where I gotten a locker kept my phone off so I wouldn’t get into trouble because of you very inpatient business! I EVEN HAD TO TURN ON BLOCK UNKNOWN CALLERS THAT WERE NOT IN MY CONTACTS! this inappropriate harassive behavior all it’s doing is scaring me away! like what do you want me to do?!?! USE MAGIC TO MAKE THAT DEBT TOWARDS MY BANK DISAPPEAR?! it doesn’t work like that!

2 years ago

Speedy Cash Logo

Reply from Speedy Cash

Hi Ashlyn- We apologize for the delayed response. If your issue has not been resolved please contact our Customer Relations department at 1-800-856-2911 for further assistance or if you prefer you can also email us at [email protected].

Jan. 31st, 2022

star star_border star_border star_border star_border

Tina Harmon Phoenix, AZ

One star is way to much credit. I don't recommend this company to anyone. I agree with most people this company is a rip off! They steal peoples hard earned money and should be put out of business and jailed. The first time I contacted them because I realized I paid off a car debt ,a florida vacation for 8 and other things but my speedy loan was still the same the rep said thats because you have a installment loan . Because I had to I excepted it. Then I find out now i have a title loan. I didnt even know they put the 500 in my account as far as I knew they didnt approve a title loan for me because I DONT HAVE A TITLE. The paper work says 'amount financed -1300 'amount payed to you-495 "amount in your account-845 What the hell is MY ACCOUNT don't they mean their account? To make it even better i wont pay this off until the end of2022 . I pay 97.99 every two weeks sometimes 3 times a month. This can't be legal and all of us who are being robbed need to take legal action. Its unbelievable that they get away with this1

2 years ago

star star_border star_border star_border star_border

It's Me Again ,

I had a small loan with them. On my last payment, I went to pay the entire balance. They randomly changed that balance as my ACH was clearing. Once it cleared, they claimed I "defaulted" on the loan by less than $20. I paid it and then filed a BBB complaint. They responded to the complaint and refunded me without being asked. After I received the refund, they turned around and said I defaulted for that exact amount again! I paid a second time and wrote directly to their customer service, giving them a piece of my mind (and receipts proving my story). I also ask not to be contacted anymore; I don't want anything from them, I just wanted to let them know what's up. They reply with a generic response that ignored what I actually said. Then, they proceed to call me later on even though I asked them NOT to! Make it make sense... Nutshell: disorganized, contradictory, horrible communication, and doesn't know how to read emails.

3 years ago

star star_border star_border star_border star_border

Kevin Mills Dallas, TX

I have used Rapid Cash/Speedy cash in the pass and no problems;but they have totally pissed me off. First, if you use Speedy Cash; don't wait for them to deduct your payments (Make your payments manually, early). I took out an installment loan online and they were deducting my payments from my checking account. My last payment that was deducted was more than double what it was suppose to be (It was suppose to be $50.51, but they took $109.30). They said, that a few of my payments were late; I told them that they were deducting the payments from my account... I highly reccommend finding a different loan place...

4 years ago

Speedy Cash Logo

Reply from Speedy Cash

Yikes, Kevin - that doesn't sound like our automatic payment policy. Thank you for taking the time to share your experience. And let us apologize for taking so long to reply. We are passing your experience along, as this is not the way we like our customers to be treated. Please accept our sincerest apologies. If you have additional feedback you would like to provide, please send it to [email protected].

Dec. 4th, 2020

star star_border star_border star_border star_border

Carolyn Aurora, IL

DO NOT TRUST THESE EVIL SHADDY RACIST LYING LOW LIVES AT SPEEDY CASH. THE CRAZY MISERABLE LYING STORE MANAGER ERICA L.,WILL LIE TO YOUR FACE... WITH SELECTIVE CUSTOMERS SHE CHOOSES TO DENY LOANS TO...SIMPLY TO BE EVIL AND TO ELEVATE HER OWN CRAZY MISERABLE SELF...BY TELLING YOU, YOU ARE DENIED AN INSTALLMENT LOAN IN OUR SYSTEM BUT SHE DOESN'T KNOW WHY. I went on to contact Veritec Solutions, LLC and the State of Illinois to find out exactly what was the reason...l was informed by each state agent/rep...Speedy Cash DID NOT SUBMIT MY APPLICATION FOR A LOAN AT ALL AND...the EVIL LYING SICK SPEEDY CASH MANAGER ERICA L...Is providing mis-informed information by stating l was denied by the State of Illinois!!!! Also, Erica had the AUDACITY to mis-informed me...SPEEDY CASH DOESN'T GIVE PAY DAY LOANS. Erica also was STUPID ENOUGH TO THINK I WOULDN'T CALL THE AURORA ILLINOIS POLICE ON HER WHILE AT THERE SHADDY UNPROFESSIONAL STORE IN ORDER TO FILE A REPORT AGAINST THERE LOCATION AT 1218 N. LAKE STREET, AURORA ILLINOIS 60506 AND REPORT THIS ILLEGAL BUSINESS TO THE STATE. ALSO, SHE WASS IGNORANT ENOUGH TO TELL THE POLICE TO TELL ME...SHE NEVER WANT ME TO COME BACK TO THERE STORE AGAIN. ERICA IS SIMPLY SOOOOO STUPID TO EVEN THINK I WOULD EVER WANT TO COME BACK THERE EVER TO DO BUSINESS WITH HER EVIL LYING SILLY DISCRIMINATORY EXTORTIONISTS WAYS. ANYWAY...SEE YOU IN COURT FOR FALSELY LYING TO POTENTIAL CUSTOMERS JUST BECAUSE YOU FEEL YOU CAN GET AWAY WITH IT. ERICA AND SPEEDY CASH HAS MESSED ILLEGALLY WITH THE WRONG CHILD OF ALMIGHTY GOD.

4 years ago

star star_border star_border star_border star_border

StormyMorning Salt Lake City, UT

I used Speedy Cash in 2015 when money was tight, it definitely helped. Its now 2019 and I forgot that I even had an account. Today I called to cancel the possibility of a loan, remove my online account and ESPECIALLY remove my bank information from that online account. They are telling me its not possible to do either, but if I want to stop receiving email notifications they could do that. I asked how that would protect me if there was ever a possible breach to my account. They continued to insist that they absolutely cannot remove my information for "auditing purposes". How is this legal?? i don't want my bank account information online or in their system, I no longer want to be a customer so you absolutely should at least remove my bank information. They insist it isn't possible, um it IS possible its a record in a database, you are choosing not to delete it. Do not do business with this company because your information will forever be available on the web, if they ever have a data breach my information will be in danger.

5 years ago

star star_border star_border star_border star_border

crista farley Nashville, TN

They are insane with interest rate. The customer service is beyond terrible i mean if you enjoy feeling like a loser to a company your paying your entire paycheck back to may be your cup of tea. The app is horrible and messed up it took 2 payments from me 4 days after i attempted to submit it and it never showed it was submitted correctly so they threw me unde the bus immediately with no hesitation. So i wouldnt recommend if need some extra cash id rather go get stabbed with a giant needle and donate some plasma.

4 years ago

Speedy Cash Logo

Reply from Speedy Cash

Yes, you are correct, Crista - our loans are high-interest, high-cost loans and should only be used when all other options have been exhausted. Part of being a responsible lender is making sure our customers fully understand any interest/fees associated with their loan. We'd be happy to chat with you about this. We also would like to hear more about your experience with the mobile app. Could you please contact us at [email protected] with the best way to reach you?

Dec. 4th, 2020

star star_border star_border star_border star_border

Cindy Keith Provo, UT

Zero I am very unsatisfied with this app I believe that all of your reviews are fake and faults and over exaggerated because it says anybody can get a loan I was denied within one minute very very disappointed.

10 months ago

star star_border star_border star_border star_border

Ashley Houston, TX

They are terrible. The interest is way too high. Please understand you’ll be more in debt because of them. I will never recommend them to anyone. I’ve paid all my payments on time, which they pulled from my account on dates I did not agree to. Please DO NOT use them.

3 years ago

star star_border star_border star_border star_border

Frances Savage Chicago, IL

Speedy Cash is very unkind they don’t care if you have death in your family and you ask for 5 days they say no. I have never not paid off my loan I always make my payments on the days that they gave me and in my time of need they say no we can’t help you and you can not get another extension. I will never get money from them again

4 years ago

Speedy Cash Logo

Reply from Speedy Cash

I'm sorry to hear about your experience, Frances. I appreciate you taking the time to leave your feedback. Are you still in need of assistance? If so, please reach out to our team at [email protected] and let us know the best way to contact you. If this has been resolved, we hope that you'll give us a second chance if you need us in the future.

Dec. 4th, 2020

star star_border star_border star_border star_border

Cecilia Richardson Conway, SC

They took an additional 2 payments out of my account by mistake and still have not refunded the money they owe. My bank account is in the negative and is getting charged an additional 35 dollars because they made a mistake. The point of getting these loans are to help one’s financial situation not make them worse.

4 years ago

Speedy Cash Logo

Reply from Speedy Cash

Hi Cecilia, first off, we apologize for the delay in responding. Were you able to get your issue resolved? If not, please email us at [email protected] with the best way to contact you.

Dec. 4th, 2020