The Money Shop short-term loans review

If you’re in a financially tough spot, you might be looking to get a loan from a high-street lender like The Money Shop. So how does The Money Shop stack up against the competition?

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The Money Shop

The Money Shop is a direct lender which is authorised and regulated by the Financial Conduct Authority (FCA). It offers a range of financial services in-store for people looking to get cash fast – from pawnbroking and cash for gold, to short-term loans. With over 200 stores nationwide, it has operated on UK high streets for more than 18 years.

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.

Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Are there alternatives?

Table: promoted deals, sorted by total payable

As well as considering other financial products, such as credit builder credit cards, you’ll want to compare lenders to make sure you’re getting a competitive deal. If you’ve had a quote on a loan from The Money Shop, you can use the table below to get an idea of how much the same loan would cost you with a range of popular short-term lenders.

How much do you need to borrow?


How long do you need to borrow for?


Name Product Available Amounts Monthly repayment Total payable Link
Lending Stream Instalment Loan
£50 to £1,500
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More Info
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
The Money Platform Short Term Loan
£250 to £1,000
Check eligibility
More Info
Representative example: Borrow £500 for 6 weeks at a rate of 255.5% p.a. Representative APR 839.20% and total payable: £647 in 1 payment.
QuidMarket Short Term Loan
£300 to £1,500
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More Info
Representative example: Borrow £300 for 3 months at a rate of 292% p.a. (fixed). Representative APR 1,301% and total payable: £454.37 in 3 instalments of £151.46.
CASH4UNOW Short Term Loan
£150 to £1,000
Check eligibility
More Info
Representative example: Borrow £200 for 4 months at a rate of 292% p.a. (fixed). Representative APR 1306% and total payable: £332.00, in 4 payments of £83.00.
Mr Lender Short Term Loan
£200 to £1,000
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More Info
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative APR 1,256.0% and total payable £367.40 in payments of £81.33, £73.23, £65.13, £57.33, £49.24, and £41.14.
With this loan your monthly repayment decreases over time. Our 'Monthly repayment' above is a representative figure designed to help compare lenders side by side.
Moneyboat Short Term Loan
£200 to £1,500
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More Info
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
Fund Ourselves (Welendus) Short Term Loan
£100 to £1,500
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More Info
Representative example: Borrow £200 for 122 days at a rate of 211% p.a. (fixed). Representative 501.2% APR and total payable £286.82 in 4 monthly payments of £71.71.
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Compare up to 4 providers

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

We compare payday/short-term loans from

Lending Stream Instalment Loan
The Money Platform Short Term Loan
QuidMarket Short Term Loan
CASH4UNOW Short Term Loan
Mr Lender Short Term Loan
Moneyboat Short Term Loan
Fund Ourselves (Welendus) Short Term Loan

Key features of The Money Shop short-term loans

Product NameThe Money Shop Short Term Loan
Available Amounts£100 to £2,000
New customer maximum£2,000
Loan terms3 months to 6 months
Soft search eligibility check
Repayment period optionsMonthly
Default repayment methodContinuous payment authority
Repay early at any point
Parent companyInstant Cash Loans Limited
FCA registration number681750

How does a loan from The Money Shop work?

If you’ve decided to apply for a loan with The Money Shop, you’ll have to visit one of its high street stores, where you’ll run through the following process with an adviser:

  1. Provide your debit card, and the other necessary identity documents described above, to one of the customer advisers.
  2. The adviser will run a quick credit check and an affordability assessment.
  3. If you’re approved, the adviser will give you up to six different instalment plan options, detailing how much you would ultimately end up paying back for each.
  4. If you’re happy with a deal, sign the loan agreement, and you’ll be given the cash there and then.
  5. Repayments to The Money Shop will be automatically taken from your bank account through a continuous payment authority (CPA). This will happen on the agreed date of payment.

What is a continuous payment authority (CPA)?

A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis.

CPA differs from direct debit because it gives the company being paid the ability to withdraw money from your account whenever it wants, and to take payments of different amounts without consulting you. Most payday loan companies will use a CPA to collect your repayments, although you can cancel this at any point by either consulting with your provider or your bank.

Am I eligible for a loan from The Money Shop?

You should only apply for a loan from The Money Shop if you can meet the repayment terms. You must also:

ResidencyUK resident
Minimum age18
Min. income£417 after tax per month
Additional eligibility notesYou must be in employment, receiving a pension or disability benefit/living allowance.
You must Hold a bank account with a valid debit card.

You’ll also need to bring the following to the store when you apply for a loan:

  • Photo ID
  • Your debit card
  • Proof of income dated within 30 days
  • Proof of address dated from within the last 3 months

Early repayment options

Repay early at any point
Repaying early can reduce overall interest
Interest is only applied to days where funds are outstanding

Is high-cost, short-term borrowing a good idea?

Payday loans and high-cost, short-term credit are a very expensive method of borrowing and should only be considered as a last resort. They won’t solve your money problems long term, and are not a good idea for borrowing over longer periods, or for sustained borrowing.

Before you apply for a payday or short-term loan, make sure you’ve considered other options. Is the expenditure that you’re planning absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you’re struggling to pay a bill, then why not talk to your electricity, gas, phone or water provider to see if you can work out a payment plan? Read more about alternatives to payday loans at moneyadviceservice.org.uk.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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