Sunday, June 17, 2012

What Are The Advantages And Disadvantages Of Using 24-7 Moneybox?

24-7 Moneybox are a British company who provide short term, quick cash advances. These are also commonly known as payday loans: they are payable on your next payday. So when you've found yourself out of cash but need to make a payment fast, a payday loan can come to the rescue!

24-7 Moneybox are a broker, not a lender. They offer pretty decent conditions for their clients. They have a solid reputation and the brand is well-known. They are committed to responsible lending, and perform credit checks on all potential customers to ensure that they are able to pay back the loan.

You can get a loan anywhere from 80 to 800. However, if you're borrowing from them for the first time, the maximum amount is limited to 200. This is to make sure you are able to repay them the loan and are a responsible borrower.

Applying for a loan online is easy and takes only five minutes. However, 24-7 Moneybox is one of the few lenders that requires you to pay a registration fee before starting to use their services. This is a 3.50 one-time fee.

Same day transfers are available, but this is another disadvantage of 24-7 Moneybox: same day transfers have a fee of 20. The standard service is for free, but takes a few day to arrive. So if you need the money urgently, you would probably be better off looking at another lender.

The finance charge figures out at 25 for every 100 borrowed. So, for example, to borrow an amount of 100, you repay 125; for 80 borrowed you pay 100, and so on.

You can only apply if you meet the following conditions: are over 18 years old, resident in the UK, and have a regular income. To receive the funds, you need a UK bank account, and for repaying the loan, you need to have a debit card associated with the account.

In conclusion, 24-7 Moneybox are a solid, trusted payday lender.

No comments:

Post a Comment