The One Stop Money Shop short-term loans review

The One Stop Money Shop specialises in short-term loans of £300 to £1,000 for customers with a poor credit rating. You can repay in weekly or monthly instalments in line with your payday over 6, 9 or 12 months.

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The One Stop Money Shop

The One Stop Money Shop will consider your application even if you have a County Court Judgement against your name. However, this lender’s other eligibility requirements for a loan are more stringent than those of many of its competitors. You must be aged over 30 and under 65, have lived in your current home for more than 4 years and have been in your current job for at least 3 years.

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

How do The One Stop Money Shop loans compare against other lenders’?

Table: promoted deals, sorted by total payable
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
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.
Savvy.co.uk Personal Loan
£300 to £3,000
Representative example: Borrow £1,000 for 12 months at a rate of 152.33% p.a. (fixed). Representative 352.7% APR and total payable £1,999.92 in 12 monthly payments of £166.66.
The Money Platform Short Term Loan
£250 to £1,000
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
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
Representative example: Borrow £200 for 4 months at a rate of 292% p.a. (fixed). Representative APR 1314% and total payable: £332.00, in 4 payments of £83.00.
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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
Savvy.co.uk Personal Loan
The Money Platform Short Term Loan
QuidMarket Short Term Loan
CASH4UNOW Short Term Loan

Key features of a loan from The One Stop Money Shop

Based in Yorkshire, The One Stop Money Shop primarily focuses on local customers in the Wakefield area but you can apply online from anywhere. Once approved, you can expect the money in your bank account within an hour.

The One Stop Money Shop is authorised and regulated by the Financial Conduct Authority.

Product NameThe One Stop Money Shop Short Term Loan
Available Amounts£300 to £1,000
New customer maximum£1,000
Loan terms6 months to 12 months
Soft search eligibility check
Instant decision in most cases
Funding speedThe One Stop Money Shop says that once approved, the money can be in your bank account within 60 minutes.
Default repayment methodDirect debit or continuous payment authority
Repay early at any point
FCA registration number713424
LinkMore Info

How does a loan from The One Stop Money Shop work?

  1. Use the sliders on the homepage to select the amount you wish to borrow and how long for.
  2. Fill out the simple application form with your personal, financial and employment details.
  3. The One Stop Money Shop will perform a credit check on you. It will then provide you with a decision on a loan and the loan amount.

How do I pay back my loan?

Like most short-term loan providers, The One Stop Money Shop uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account on your chosen dates.

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.

What are the eligibility requirements?

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

ResidencyUK resident
Minimum age30
Applicant with CCJsThe One Stop Money Shop will consider your application even if you have a CCJ against your name.
Additional eligibility notesYou must be aged over 30 and under 65.
You must have been at your current address for at least 4 years.
You must have been in your current job for at least 3 years.
You must be in full-time employment.
LinkMore Info

Did you know?

In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.

It also capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Early repayment options

Repay early at any point
Repaying early can reduce overall interest
Phone number01924 377771
LinkMore Info

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

Short-term or “payday” loans from lenders like The One Stop Money Shop offer a fast solution when you get into unexpected difficulties with your finances, but they are a very expensive method of borrowing. Therefore, you should only consider this option as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not suitable for borrowing over longer periods, or for people with serious debt problems.

Before you apply for a short-term loan, make sure you have considered all other options carefully. Is the expenditure that you’re planning unavoidable? If you can defer a purchase then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking 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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