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EZ MONEY Review

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About Lender

EZ Money positions itself as a reliable and user-friendly financial services provider, particularly known for its quick and efficient loan services. Emphasizing convenience and minimal bureaucracy, EZ Money caters to individuals facing large or unexpected expenses, needing financial relief before payday, or simply looking for a straightforward way to manage their finances without the hassle of traditional bank loans. Their approach to financial services is fast and friendly, aiming to alleviate the stress associated with financial burdens through easy-to-access loans and other financial solutions.

The company offers a range of financial services, including payday loans, check cashing, as well as financial services like prepaid cards, bill pay, and even Bitcoin transactions. Payday loans and cash advances stand out as their primary offerings, providing short-term cash loans to individuals in need of immediate financial relief. These services are designed to be easily accessible, with a straightforward application process that can be completed online in just a few minutes, making them an attractive option for those in urgent need of funds.

To qualify for a loan from EZ Money, applicants must navigate through a relatively simple and fast application process, which is part of the company's commitment to convenience and accessibility. The approval of loans depends on meeting legal, regulatory, and requirements, which may include verification of application information through national databases. Although specific conditions and requirements may vary by state due to different legal frameworks, generally, EZ Money requires proper identification and a check of creditworthiness, among other criteria, to approve loan applications. It's important to note that while payday advances can provide immediate financial relief, they are intended for short-term needs and not as a long-term financial solution, with the company advising potential borrowers to consider their ability to repay before taking out a loan.

ez money review

Key Features

  1. Quick and Easy Loan Services. EZ Money offers a variety of loan services, including payday loans and installment loans, designed to be fast and hassle-free. The application process is streamlined and can be completed online, ensuring quick access to funds when needed.

  2. Minimal Paperwork. The company emphasizes minimal bureaucracy, making it easier for customers to access financial services without the extensive paperwork typically associated with traditional banking.

  3. Financial Services Beyond Loans. Apart from loans, EZ Money provides additional financial services such as check cashing, prepaid cards, bill pay, and Bitcoin transactions. This range of services is aimed at meeting various financial needs and preferences.

  4. Accessible Customer Service. EZ Money is committed to guiding customers through any financial service they need, offering support and advice to navigate through their financial options and decisions.

  5. Online and Physical Presence. With both an online platform and physical locations, EZ Money ensures convenience and accessibility for customers, allowing them to choose the service method that best suits their preferences.

  6. Partnership with Western Union. The company offers money transfer services through a partnership with Western Union, enabling customers to send money worldwide easily and securely.

  7. Gift Card Exchange. EZ Money provides a service to trade unused or unwanted gift cards for cash, adding a unique feature to their range of financial solutions.

  8. Prepaid Cards with Benefits. Their prepaid cards offer safety and convenience, including benefits such as getting paid 1-3 days earlier on direct deposits without the need for a credit check.

  9. Automated Bill Pay. To help customers manage their bills more effectively, EZ Money offers automated bill pay services, ensuring payments are made on time and avoiding late fees.

  10. Education and Assistance in Cryptocurrency Transactions. Recognizing the growing interest in digital currency, EZ Money also educates customers on Bitcoin transactions, offering guidance and assistance in navigating the cryptocurrency market.

Pros and Cons

Pros

Variety of Financial Services. EZ Money offers a wide range of financial services, including payday loans, installment loans, check cashing, prepaid cards, and money transfer services. This variety ensures that customers have access to multiple financial solutions under one roof.

Fast and Easy Application Process. The application process for loans is streamlined and can be completed quickly online, making it convenient for individuals in urgent need of funds.

Prepaid Cards Without Credit Checks. Customers can obtain prepaid cards without undergoing credit checks, providing a financial tool for those with no credit or poor credit history.

Financial Education and Assistance. The company offers education and assistance in understanding and managing Bitcoin transactions, catering to customers interested in cryptocurrency.

Cons

High-Interest Rates on Loans. As with most payday and installment loans, the interest rates can be high, making them an expensive option for long-term financial needs.

Short-Term Financial Solution. Payday loans and cash advances are designed for short-term financial relief and are not a viable solution for long-term financial issues.

Potential for Financial Dependency. The ease and convenience of accessing cash advances might lead to a dependency on these services for managing finances, potentially exacerbating financial difficulties for some individuals.

Availability Limited to Certain States. EZ Money's services are not available nationwide; they operate only in certain states, limiting access for individuals outside these areas.

Reliability

  1. Established Financial Services Provider. EZ Money has a track record of providing a range of financial services, indicating a solid history in the industry.

  2. Simple and Transparent Application Process. EZ Money's application process is straightforward and easy to understand, reflecting transparency in their dealings with customers.

  3. Fast Service Delivery. The company emphasizes quick processing and disbursement of funds, ensuring that customers receive financial assistance promptly when needed.

  4. Regulatory Compliance. EZ Money operates in compliance with legal and regulatory requirements, indicating a commitment to lawful and ethical business practices.

  5. Customer Support. EZ Money provides customer support and guidance through various financial services, indicating a focus on customer satisfaction and reliability.

  6. Educational Resources. The company offers education and assistance on Bitcoin transactions, showing a commitment to helping customers understand and navigate complex financial products.

  7. Automated Bill Pay Option. The availability of automated bill pay services demonstrates EZ Money's commitment to providing reliable financial management tools to its customers.

How to Apply for an EZ Money?

  1. Visit Website. Start by navigating to the EZ Money general page. Find and click on the "Apply Now" button to start the application process.

  2. Choose Your State. You will be prompted to select the state you reside in from a dropdown menu to ensure that EZ Money offers services in your area and to comply with state-specific regulations.

  3. Enter Personal Information. Fill out the required fields with your personal information, including your full name, address, email, and phone number.

  4. Provide Contact and ID Information. Enter additional contact details and identification information, such as your Social Security Number and government-issued ID (driver’s license or passport).

  5. Income Information. Input details about your income, including source, amount, and frequency. This helps determine your loan eligibility and the amount you can borrow.

  6. Bank Information. Provide your banking details, including account number and bank routing number, which are necessary for depositing the loan amount and processing repayments.

  7. Review and Submit. Carefully review all the information you've provided for accuracy. Read and understand the terms and conditions, customer notices, and any consent forms.

  8. Finish & Submit. Once everything is in order and you agree to the terms, submit your loan application for review.

  9. Wait for Approval. After submission, EZ Money will review your application, which may include verification of application information through national databases. Approval depends on meeting legal, regulatory, and underwriting requirements.

  10. Check Your Loan Agreement. Upon approval, you'll be informed about the loan amount, terms, and how to proceed further.

Conditions and Requirements

Conditions

  1. Loan Amounts and Terms. EZ Money offers various loan amounts up to $1,500, minimum and maximum amounts may vary by state. The repayment period typically ranges from two to four weeks, although in some states, it may be longer.

  2. Use of Loan. Loans from EZ Money are intended for short-term financial needs only, not as a long-term financial solution. Customers are encouraged to consider their ability to repay the loan within the agreed-upon timeframe.

  3. Interest Rates and Fees. Interest rates and fees are determined based on the loan type, amount, and the customer's location, in compliance with applicable state and federal laws. The APR fluctuates between 136.70% and 521.63% depending on the additional underwriting criteria.

  4. Repayment. Borrowers must agree to the repayment schedule, which is typically structured around their pay cycle. Failure to comply with the repayment terms may result in additional fees or penalties.

  5. Renewal Policies. Depending on the state laws and loan type, loans may be renewed or rolled over with additional fees. Customers should understand the renewal policy applicable to their loan.

Requirements

  1. Legal Age. Applicants must be at least 18 years old (or the legal age in their state) to apply for a loan.

  2. Residency. Applicants must be a resident of the state where EZ Money operates and where the application is submitted. Proof of residency may be required.

  3. Income Verification. Applicants must provide proof of a regular income source to qualify for a loan. This could include pay stubs, bank statements, or other documentation verifying income.

  4. Bank Account. A valid checking account is required for the loan disbursement and the repayment process. Applicants must provide bank account details during the application.

  5. Identification. A government-issued ID (such as a driver's license or passport) is required to verify the applicant's identity.

  6. Credit Check. EZ Money and third-party lenders may perform credit checks using national databases to assess creditworthiness and risk. This could impact the approval process and terms offered.

  7. Compliance with Regulations. Applicants must meet all legal, regulatory, and underwriting requirements specific to their state and the loan product they are applying for.

Ways to Receive the Money

At EZ Money, customers have convenient options for receiving their loan funds to ensure quick and easy access to cash when it's needed most. While specific details on the disbursement methods are best obtained directly from the company or during the application process, common practices in the industry include direct deposit into the borrower's bank account, which is the fastest and most direct way to receive funds. This method requires the borrower to provide accurate bank account information during the application process. In some cases, if available, customers might also have the option to pick up their loan funds in person at an EZ Money location or through other pre-arranged methods. These options are designed to make the loan process as smooth and efficient as possible, ensuring that customers can quickly utilize their funds for urgent financial needs.

Products

  • Payday Loans. Short-term loans that provide immediate cash to help cover unexpected expenses or bridge a temporary gap between paychecks.

  • Installment Loans. Longer-term loans that allow for larger amounts to be borrowed and repaid over a set number of scheduled payments, providing more flexibility than payday loans.

  • Check Cashing. A service that allows customers to cash their checks quickly and conveniently without the need for a bank account.

  • Prepaid Debit Cards. Prepaid cards that offer a secure and convenient way to manage money, make purchases, and pay bills without the need for a traditional bank account.

  • Money Transfers. In partnership with Western Union, EZ Money offers the ability to send and receive money worldwide, providing a reliable way to transfer funds to friends and family.

  • Bill Pay Services. A service that allows customers to pay their bills easily and on time, helping to avoid late fees and maintain good credit.

  • Gift Card Exchange. EZ Money provides the option to exchange unwanted or unused gift cards for cash, offering customers a way to monetize gifts they can't use.

  • Bitcoin Transactions. Assistance with buying and selling Bitcoin, offering guidance and support for customers interested in engaging with cryptocurrency.

Other Loans

Reasons for Loan Refusal

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Loan refusal at EZ Money could occur for several reasons, each related to their specific requirements for loan approval. Common reasons for a loan application being declined include not meeting the minimum age requirement of 18 years or the legal age in your state, lack of proof of stable income or insufficient income to ensure repayment, not residing in a state where EZ Money operates, providing inaccurate or incomplete application information, failing to have a valid checking account, adverse credit history or findings from credit checks that raise concerns about the applicant's ability to repay the loan, and not meeting legal, regulatory, and underwriting requirements specific to the loan product or state laws. Understanding and meeting all the stated requirements is crucial for a successful loan application, as these criteria are designed to ensure that loans are provided responsibly and that borrowers are capable of repayment without undue hardship.

How to Repay an EZ Money?

Repaying a loan from EZ Money is designed to be as straightforward and convenient as possible for the borrower. While specific details on repayment options should be confirmed directly with EZ Money or through the loan agreement, common methods typically include automatic deductions from the borrower's bank account on the due date, which aligns with the borrower's pay cycle to ensure funds are available. This method requires borrowers to provide accurate and up-to-date bank account information. Additionally, borrowers may have the option to make payments in person at an EZ Money location, through online platforms provided by EZ Money, or via other electronic transfer methods.

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Speedy Cash

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Speedy Cash is a prominent financial institution catering to the urgent financial needs of residents in 27 states. With a diverse array of services, the company specializes in offering payday loans alongside various other types of loans. Whether customers require a small sum of $50 or seek more significant assistance with larger expenses, Speedy Cash is ready to address their financial requirements promptly with up to $1,500 payday loans. One of the key advantages of Speedy Cash is its remarkably swift turnaround time, with loan applications being processed and approved within just one day, ensuring that individuals can access the funds they need without unnecessary delays.Speedy Cash

Cash Store

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Ace Cash Express

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Check Into Cash

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Check Into Cash is a reputable financial service provider that offers Installment Loans. These loans allow individuals to borrow a certain amount of money, typically ranging from $50 to $5,000, depending on the laws of their state. The maximum loan amount varies from one state to another, ensuring compliance with local regulations. With Check Into Cash, borrowers can access the funds they need to cover unexpected expenses or manage financial challenges.Check Into Cash

Approved Cash

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Approved Cash is a trusted financial institution specializing in offering payday loans and cash advance services, catering to individuals needing immediate financial assistance. Whether you're facing unexpected expenses or find yourself short on funds, Approved Cash is here to provide the solution you need today. Applying for their loans is straightforward, ensuring quick access to the required funds.Approved Cash

Editorial Opinion

EZ Money appears to stand out in the crowded field of short-term lending and financial services by offering a broad array of products designed to meet the diverse needs of its clientele. From payday loans and installment loans to check cashing and prepaid debit cards, the company offers solutions that cater to immediate cash needs, longer-term financing, and even modern financial services like Bitcoin transactions. What sets EZ Money apart is its emphasis on convenience and accessibility, with services like online applications and a variety of repayment options that underscore its commitment to customer satisfaction. However, like all short-term financial solutions, the services provided by EZ Money come with the caveat that customers should use them responsibly, considering the high-interest rates and fees that are typical of the industry.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

Sources

FAQ

How Do you Qualify For an Ez Money Loan?

EZ Money offers a variety of loan options to its customers, including payday loans, installment loans, and title loans. The requirements to qualify for a loan may vary depending on the type of loan and the state where you reside. However, there are some general requirements that you may need to meet to qualify for an EZ Money loan:

  1. You must be at least 18 years old.
  2. You must have a steady source of income, such as a job or government benefits.
  3. You must have an active checking account in your name.
  4. You must provide a valid government-issued ID, such as a driver's license or passport.
  5. You may need to provide additional documentation, such as proof of income or residency.

To apply for an EZ Money loan, visit their website or one of their physical store locations. The application process typically involves filling out an online or in-person application, providing the necessary documentation, and waiting for approval. Once approved, you can receive the loan funds either through direct deposit or in person at an EZ Money location. It is important to note that loans from EZ Money come with interest and fees, so it is important to carefully review the terms and conditions of the loan before accepting it.

How Much Can You Borrow From Ez Money?

The amount you can borrow from EZ Money will depend on the type of loan you are applying for, as well as your state of residence and your creditworthiness. EZ Money offers a range of loan options, including payday loans, installment loans, and title loans.

For payday loans, the amount you can borrow typically ranges from $100 to $600, although some states may allow higher loan amounts. Payday loans are short-term loans that are designed to be repaid on your next payday.

The loan amounts may be higher for installment loans, ranging from a few hundred dollars to $1,500, depending on your state and creditworthiness. Installment loans are typically repaid over a longer period of time, with multiple payments due over several months.

Title loans are another option offered by EZ Money, where you can use your car as collateral for a loan. The loan amount you can receive will depend on the value of your car, as determined by EZ Money.

It is important to note that loans from EZ Money come with interest and fees, which can vary depending on the loan type and your state of residence. It is important to carefully review the terms and conditions of the loan before accepting it and to ensure that you can afford the loan payments.

Does Ez Money Approve Everyone?

No, EZ Money does not approve everyone who applies for a loan. To qualify for a loan from EZ Money, you must meet certain eligibility requirements, including having a steady source of income, an active checking account, and a valid government-issued ID.

EZ Money follows responsible lending practices and is committed to ensuring that its customers can repay their loans. As a result, if you do not meet the eligibility requirements or if EZ Money determines that you may not be able to repay the loan, your loan application may be denied.

It is important to carefully review the loan terms and conditions before applying and to ensure that you can afford the loan payments. Taking out a loan you cannot repay can lead to financial hardship and damage your credit score.

Is Ez Money a Legitimate Company?

Ez Money operates under various state licenses in compliance with state regulations. The company is licensed by the Iowa Division of Banking under Iowa Code, Chapter 533D, the Missouri Division of Finance under Missouri CSR 408.500.1 and 408.510, the North Dakota Division of Finance under North Dakota Century Code Chapter 13-08, the Michigan Department of Insurance and Financial Services under the Deferred Presentment Service Transactions Act (DPSTA), 2005 PA 244, MCL 487.2121, the Kansas Office of the State Bank Commissioner, Consumer and Mortgage Lending Division under Chapter 16a of the Consumer Credit Code, and is acknowledged as a consumer lender by the Utah Department of Financial Institutions under the Utah Consumer Credit Code, section 70C. This allows Ez Money to operate in various states while complying with state laws and regulations.

Is Ez Money a good lender?

The quality of a lender can depend on various factors, such as their loan products, interest rates, fees, customer service, and reputation. EZ Money has been in business since 1986 and offers a variety of loan options, including payday loans, installment loans, and title loans.

EZ Money follows responsible lending practices and complies with state and federal laws and regulations. They also provide clear and transparent information about their loan terms, fees, and repayment options, which can help borrowers make informed decisions.

However, it is important to note that loans from EZ Money can come with high-interest rates and fees, which can make the cost of borrowing expensive, especially if you are unable to repay the loan on time. Borrowers should carefully review the loan terms and conditions before accepting a loan from EZ Money and ensure that they can afford the loan payments.

In addition, there have been some customer complaints and negative reviews about their experience with EZ Money's customer service, loan approval process, and repayment policies. It is recommended that borrowers research and compare multiple lenders before choosing a lender to ensure that they get the best loan terms and customer service.

Company documents

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When it’s still weeks until payday and an unexpected expense leaves you desperate for cash, EZ Money has the financial resources you need to stay afloat.

@ EZ Money
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Rating by Finanso®
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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.

Recommended FinScore™
0
300
650
1000
to 1500.00 $
Rate
i

Interest rate

to 521.63 %
Term
i

Loan term for the financial product

to 121 days
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Finanso
Personal Loans
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
2000.00 – 100000.00 $
Rate
i

Interest rate

6.34 – 35.89 %
Term
i

Loan term for the financial product

2 months – 72 months
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Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
100.00 – 4000.00 $
Rating by Finanso®
i

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.

3.93
(20 Ratings)
Recommended FinScore™
0
300
650
1000
450.00 – 12000.00 $
Rate
i

Interest rate

27.50 – 81.29 %
Term
i

Loan term for the financial product

6 months – 1399 days
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