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247MoneyBox.com 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!
247MoneyBox.com are a lender, not broker. 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 because you are not required to fax in any documents. However, 247MoneyBox.com is one of the few lenders that used to require you to pay a registration fee before starting to use their services. This was a £3.50 one-time fee which they sensibly no longer charge.
Same day transfers are available, but the disadvantage is no optional free BACS trasfer and a compulsory £6 fee for same day transfers. The standard BACS 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. However, what sets them apart from the majority of payday lenders, is that they have a more flexible repayment system. 247MoneyBox.com charge interest by the day at 1% of the amount borrowed and transfer fee, so the shorter your loan duration the less you pay in interest.
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. They have not specified whether only full-time employment is accepted or whether those in alternative forms of employment also qualify. Neither have they mentioned whether they have set a minimum acceptable monthly income limit. If the reason behind not clarifying these aspects is the fact that these factors do not matter to them, one could suggest that 247MoneyBox.com are among the most flexible payday lenders in the UK.
They also carry out credit checks on all their customers as a part of their automated real-time decisioning. This makes their loans extra fast compared to some other lenders.
So, the advantages of using 247MoneyBox.com include lower qualification norms, quick application process, flexible repayment periods, and speedy money transfers.
In conclusion, 247MoneyBox.com are a solid, trusted payday lender.
To read more than just this 247MoneyBox.com Review, visit www.whichpaydaylender.co.uk to compare and review all payday lenders and get the best deal possible on your next payday loan.