The One Stop Money Shop short term loans review

The One Stop Money Shop specialises in short term loans of £400 to £2,500 for customers with a poor credit rating. You can repay in weekly or monthly instalments in line with your payday over 6, 9 or 24 months.

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The One Stop Money Shop

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

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.

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£400 to £2,500
Representative APR295.6%
Loan terms6 months to 24 months
Soft search eligibility checkcross
Instant decision in most casestick
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 pointtick
FCA registration number713424

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. The following eligibility criteria also apply:

ResidencyUK resident
Minimum age25
Applicant with CCJsThe One Stop Money Shop will consider your application even if you have a CCJ against your name.
Additional eligibility notesYou must have a valid UK bank account.
You must be in full-time or part-time employment.
You must have a valid UK mobile number and email address

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 pointtick
Repaying early can reduce overall interesttick
Phone number01924 377771

Customer reviews

The One Stop Money Shop has an “excellent” rating of 4.5 out of 5 on review platform Trustpilot, based on over 200 reviews (updated February 2024). Customers praised the easy-to-use application form, straightforward process and quick supply of funds after being accepted.

Customer support

If you need support or have any queries then you can give The One Stop Money Shop a ring on 01924 377771.

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

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