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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About lender

Amscot is a loan company that offers a wide range of financial services to its customers, including check cashing, money orders, cash advances, bill payments, small-dollar, payday loans, and solutions for various financial needs. Amscot Corporation was founded in 1989. Nowadays, it is located in Tampa, Florida, the United States. The company has about 240 store locations.

With Amscot, clientele can obtain and load an Amscot Prepaid MasterCard, apply for Installment cash advance, wire money, send a fax, make copies, buy stamps and use safe and inexpensive ATMs.

Pros and cons

Amscot seems to be a highly professional Florida payday lender. It is a trustworthy and legit company that has a great variety of loan options. However, before deciding on Amscot's services, take into account that payday, installment, and auto title loans come with high rates and fees. So, borrowers must also consider alternatives before applying for Amscot's programs.


  • Amscot has an A+ rating from the Better Business Bureau (BBB) and excellent scores on Trustpilot.

  • Amscot has a website and numerous local branches that are open seven days a week. Some of them work 24 hours a day.

  • The company offers multiple payment arrangements. If customers fail to pay back the cash on time, they can get a grace period or an extension for the loan.

  • Even though Amscot's $2 fee verification may seem quite high, it is lower than the legal fee limit set by the State of Florida.

  • If customers cannot repay the loan within 30 days after the loan repayment deadline, the information about clienteles' creditworthiness is updated on all US credit bureau websites. So it won't affect the clientele's credit score.

  • Amscot has no automatic renewals.

  • Amscot is a Community Financial Services Association of America (CFSA) member and licensed by the Florida Office of Financial Regulation.


  • Amscot doesn't extend online loans. To complete the application process, customers will have to visit a local branch.

  • Amscot is available only in Florida.

  • In comparison to other loan companies, Amscot has costly payday loans with a $2 verification fee and a 10% finance charge of the loan amount.

  • Amscot has a mandatory credit check eligibility requirement.

  • To be eligible for Amscot's services, the clientele needs to have a checking or a bank account.

  • When applying for Amscot's services, customers sign up for an arbitration agreement. That means that they can hardly sue the company in the event of a dispute or use the jury option.

Terms and conditions

An Amscot cash advance is an advance on the customer's next paycheck, which they can borrow from $50 to $500 maximum loan amount. The fee is between 10% and 14% of the loan amount with APR, varying from 276.36% to 338.93%. This includes a $2 verification fee.

Another type of Amscot's services is the installment cash advance with loan amounts from $100 up to $1000 maximum loan amount. The loan term is 85 days. Customers will have six be-weekly payments. Finance charges, APR, and fees depend on the borrowed amount.

Amscot also offers free money orders that imply processing fees. Moreover, with Amscot, customers can use water, electricity, and many other types of bill payment options that include collecting fees.

Amscot customers can also obtain Azulos Prepaid Mastercard and Azulos Plus Account with no minimum balance or credit check required, 5,00% APY on balances up to $1,000, and foreign IDs accepted secondary account available, and a $1,5 transaction fee.

Funding a loan

Amscot disburses money directly toward the clients in the local branch. Money gets transferred to a borrower within seven business days. The operational time of the lender is usually a couple of months.


How do I find the Amscot branch near me?

To find the nearest Amscot local branch, enter your city or zip code in the branch locator on Amscot's web page. Furthermore, you can view all Amscot locations using the map by clicking on the tab "Locations".

How much will Amscot give me?

With Amscot, you are eligible to receive up to $500.00 in increments of $50.00.

Is Amscot a bank?

Amscot is not a bank. It is one of the leading lender companies in Florida.

Company documents

Privacy Policy
I.D. Verification
Arbitration Agreement

We’re more than just a financial services company. We’re part of the neighborhood.

© Amscot

Calculate loan payments at Amscot

Amscot calculator will allow you to calculate an approximate payment schedule for the loan

Amscot calculator
Interest rates are given in accordance with the rates of the Amscot in Washington, D.C. as of 25.09.2022
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What to focus on before applying for a loan with Amscot

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Amscot and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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