About lender
To satisfy both short-term and long-term financial goals, Moneytree offers a variety of financial products. Over 80 retail locations sell its products and services. Besides payday loans, they provide cheque cashing, secured and unsecured installments, and personal and business loans.
Moneytree was founded in Renton, Washington, on 31 October 1983. The company's product offerings have evolved over time to what they are now. Dennis Bassford has been the firm's CEO and owner since its development with his brother David Bassford and his wife of twenty-five years, Sara Bassford.
Fast growth sets a firm apart from its competitors. It strives to improve its services, and its search for new solutions never ends. The primary focus is creating quality service for millions of customers, individuals, and businesses.
Key features
Moneytree is a financial management app that allows you to manage your finances, track your spending, and invest in stocks and funds. Some of the key features of Moneytree include the following:
- Account aggregation. Moneytree allows you to connect and view all your financial accounts in one place, including bank accounts, credit cards, and investment accounts.
- Expense tracking. With Moneytree, you can track your spending by category, set budgets, and receive notifications when you exceed your budget.
- Bill management. You can manage and pay bills directly within the app and receive alerts when bills are due.
- Investment management. Moneytree allows you to invest in stocks and funds directly from the app and provides real-time market data and portfolio tracking.
- Financial planning. Moneytree provides personalized financial planning and analysis, including recommendations for savings, investments, and insurance.
- Security. Moneytree uses bank-level security and encryption to protect your financial information and transactions.
- Integration with other financial tools. Moneytree can be integrated with other financial tools and services, such as accounting software and tax preparation software, to streamline your financial management.
Overall, Moneytree offers comprehensive features to help you manage your finances and achieve your goals.
Pros and cons
Pros
- Quick and easy acceptance. Sixty minutes is the average time it takes for applicants to hear back regarding the status of an online application.
- Immediate funding. Prepaid cards acquired through business or in person at a branch can be used to get funds immediately.
- Simple access and approval. When you agree to register and sign in account, you can receive personal offers from the firm with access to the application and other options.
- Scam alert. Moneytree has an alert to let customers know that Moneytree's name and company information is used in a scam where people receive threatening phone calls about overdue loan payments.
Cons
- Limited Availability. The lender is only present in California, Colorado, Idaho, Nevada, and Washington states.
- High rates and presence of fees.
Products
Moneytree offers several financial products to help individuals and businesses manage their finances:
- Moneytree App. The Moneytree App is a personal financial management app that allows you to view all of your financial accounts in one place, track your spending, and invest in stocks and funds.
- Moneytree for Business. Moneytree for Business is a financial management platform designed for small businesses. It allows you to manage your business finances, view real-time cash flow, and easily track and categorize expenses.
Overall, Moneytree offers a range of products to help individuals and businesses manage their finances more effectively and efficiently.
Reliability
Moneytree is committed to providing its customers with reliable and secure financial management services. Here are a few ways that Moneytree ensures the reliability of its services:
- Bank-level security. Moneytree uses bank-level security and encryption to protect customer information and transactions. All data is encrypted both in transit and at rest, and Moneytree undergoes regular third-party security audits.
- Reliability and uptime. Moneytree operates a redundant infrastructure with multiple data centers and real-time replication of data to ensure high availability and reliability.
- Proactive monitoring. Moneytree has a dedicated team of engineers who proactively monitor their systems and services to ensure uptime and performance.
- Customer support. Moneytree has a responsive customer support team that can assist with any technical issues or questions that customers may have.
Overall, Moneytree strongly emphasizes the reliability and security of its services and has taken several measures to ensure that its services are always available and functioning as intended.
Funding a loan
Prepaid cards acquired through a company or in person at a branch can be used to get funds immediately. There is also the option of depositing funds straight into a bank account within one to three business days. Although the payback period is typically 14 days, the borrower's state and the frequency of their paychecks might affect this.
Loan conditions
A payday loan in California costs $17.65 for every $100 borrowed. A 14-day loan of $100 would cost $117.65 in total repayments, resulting in an annual rate (APR) of 460.16 percent.
Idaho: The cost of a $100 payday loan is $18.50. The APR (Annual Percentage Rate) for a $100 loan due in 14 days would be $118.50, or 482.32 percent.
In Nevada, a $100 payday loan costs $16.50. An annual rate (APR) of 430.18 percent applies to a $100 loan that must be repaid in 14 days.
The lender pays $15 for every $100 borrowed up to $500 in Washington and $10 for every $100 borrowed over $500. The APR (Annual Percentage Rate) for a $100 loan due in 14 days is 391.07 percent or $115 in total repayment.
When you search for financial institutions offering credit solutions, consider these rates. Moneytree may be your future financial partner, but their rates are still high. Before you sign an account, fill out a registration form, and enter your last name and Email, first compare these terms and conditions with other firms.
Additional Services
Moneytree does offer additional financial services beyond its core financial management and investment products. One of these additional services is check cashing.
Moneytree offers check cashing services for various checks, including payroll, government, and personal checks. Customers can cash their checks instantly at any Moneytree branch location, and fees for check cashing vary based on the type of check and the amount.
In addition to check cashing, Moneytree also offers other financial services such as money orders, prepaid debit cards, and short-term loans. These services are designed to provide customers with various financial solutions to meet their needs.
It's worth noting that these additional services are separate from Moneytree's financial management app and platform and may not be available in all locations. If you're interested in any of Moneytree's additional financial services, it's best to visit a Moneytree branch location or check their website for more information.
