Money Mart Review
Hi, I’m Randy Murrie from Ready Payday Loans. I know how tough it can be when you’re short on cash and need help fast. That’s why I’ve been digging into some of the top payday loan companies, like Money Mart, to give you honest reviews in plain English.
Today, we’re talking about Money Mart. You’ve probably seen their name before—they’ve got stores across the U.S. and Canada, and their website, Moneymart, makes it easy to apply for loans online. I wanted to learn more about what they offer, how it works, and what customers like (and sometimes don’t like) about them.
In this review, I’ll share what I found. I’ve included charts to break down the important stuff like loan amounts, interest rates, and customer satisfaction. Everything is explained so it’s easy to follow, no confusing financial talk here!
What Is Money Mart?
Money Mart is a financial services company that started in 1982. Today, they have over 500 store locations and a strong online presence. They’re best known for offering short-term loans, but they also provide:
- Payday loans
- Installment loans
- Lines of credit
- Cheque cashing
- Money transfers
- Prepaid debit cards
Whether you visit a store or go online, Money Mart tries to make the loan process fast and simple.
Loan Products Offered by Money Mart
Let’s break down the main loan options you can get from Money Mart:
Payday Loans
This is a short-term loan meant to cover small expenses until your next paycheck. You usually repay it within 2 weeks to 1 month.
Installment Loans
If you need a little more time to pay, this loan lets you borrow a larger amount and repay it in equal payments over a few months.
Line of Credit
This works kind of like a credit card. You get approved for a limit, and you can borrow from it whenever you need to.
Money Mart Loan Amounts and Repayment Terms
Here’s a look at typical loan amounts and how long you get to repay.
| Loan Amount | Repayment Term |
| $100 | 2 weeks |
| $500 | 2 to 4 weeks |
| $1,000 | 3 to 6 months (installment) |
| $3,000+ | Up to 12 months (installment) |
Interest Rates and Fees
Now, let’s talk numbers. Money Mart charges different fees depending on your state and the loan type. Here’s a rough idea:
| Loan Type | APR (Annual % Rate) |
| Payday Loan | 390% to 460% |
| Installment Loan | 29% to 120% |
| Line of Credit | Varies – up to 46.96% APR |
Remember: payday loans are meant to be short-term. Even though the APR looks high, if you repay it on time, the cost stays lower.
How the Application Process Works
You can apply for a Money Mart loan online or in-store. Here’s what they’ll usually ask for:
- Valid ID
- Proof of income (like a pay stub)
- Banking info
- Social Security Number (for U.S. residents)
Approval is quick—sometimes in minutes. If you apply in-store, you may walk out with cash. If you apply online, funds are usually deposited the next business day.
Customer Experience and Support
What Customers Like:
I looked at reviews from Trustpilot, Google, and other places. Here’s what people are saying about Money Mart:
- Fast approvals
- Friendly staff in stores
- Easy-to-use website
- Flexible payment plans for installment loans
What Some Customers Mentioned:
- High fees (especially for payday loans)
- Occasional delays in online funding
- Extra documentation is needed at times
Store Locations and Availability
Money Mart operates in several U.S. states and across Canada. If there isn’t a store near you, their online services are available 24/7. That’s helpful if you prefer managing things from your phone or computer.
Website and Mobile App
Their website is easy to use, and they also offer a Money Mart app for iOS and Android. You can:
- Apply for loans
- Check your balance
- Make payments
- View past transactions
From what I’ve seen, most people find the app convenient, especially for installment and line-of-credit users.
Final Thoughts on Money Mart
Overall, Money Mart is a solid option if you need quick cash and want flexible choices. They’ve been around for decades, and they make it easy to apply online or in person. Like with any loan, just make sure you understand the terms, especially the interest rates. If you repay on time and budget smartly, their services can be really helpful in a pinch.
A Friendly Alternative: Ready Payday Loans
If you’re looking for another trusted place to borrow money, I’d love for you to check out Ready Payday Loans. Here’s why:
As someone who works at Ready Payday Loans, I always tell folks, we’re here to make lending easier and friendlier. If you want flexible terms, transparent fees, and quick approvals, give us a try. We’re always ready to help when you need it most.