Moneytree FAQ

Can I renew my loan?California
Can I renew my loan?Washington
How do I repay my online loan? California, Idaho, Nevada, Washington
How fast will I receive my money?California, Idaho, Nevada, Washington
What if I change my mind about borrowing the money? California, Idaho, Nevada, Washington

Are Moneytree's financial services regulated?

Moneytree is licensed to offer retail financial services depending on the requirements of the individual states in which it operates. Licenses are posted in each Moneytree location. We can provide you with each state's licensing contact information upon request. Moneytree is also registered with the federal government as a Money Services Business (MSB).

Can I extend my loan due date through my online account?

Currently this option isn’t available. Please contact our Customer Service Department at 888.320.TREE (8733) to discuss options for extending your loan date.

Can I extend my loan due date?

California

Please visit any Moneytree branch or contact our Customer Service Department at 800.745.1011 to discuss options for extending your loan date.

Can I pay my loan off before the due date?

Yes. You can visit any Moneytree branch to pay off your current loan or log into your online account to make the payment. Payments in full can be made online using our "Make a Payment" form.

Can I pay off my loan early without a penalty?

Yes. Moneytree does not charge a pre-payment penalty if you choose to pay off your loan before the loan due date.

Can I renew my loan?

California

No. Loan renewals are not available in the state of California.

Can I renew my loan?

Idaho

In certain cases, you may renew the terms of your loan by paying the additional fee to extend the loan due date until your next payday. The renewal may occur prior to the time your electronic transaction is deposited. You may extend the term of your loan by paying the additional fee at any time prior to 3pm Pacific Time on the loan due date. You may extend the term of your loan a maximum of three (3) times. After that time, the loan must be paid in full.

Can I renew my loan?

Washington

No. Loan renewals are not available in the state of Washington.

Can I renew my loan?

Nevada

In certain cases, you may renew the terms of your loan by paying the additional fee to extend the loan due date until your next payday. The renewal may occur prior to the time your electronic transaction is deposited. You may extend the term of your loan by paying the additional fee at any time prior to 3pm Pacific Time on the loan due date. You may renew your loan a maximum of four (4) times, but for no longer than 60 days after the original loan's first due date or 90 days after the original loan's origination date, whichever is shorter. At the time that your fourth renewal is due, or if the applicable time period has expired, you must repay the loan in full.

Do you offer payment plans?

Yes. If circumstances arise that change your ability to repay your loan when it is due, payment plan options may be available depending upon the state in which your loan originated. Please review the repayment options for your state.

Does Moneytree abide by industry best practices?

Moneytree is a member of the Community Financial Services Association of America (CFSA) and the Financial Service Centers of America (FISCA). Moneytree actively supports laws, regulations and industry best practices that protect consumers and preserve access to credit. A copy of the industry best practices is posted in every branch.

Does Moneytree check my credit report as part of the loan application process?

We may make inquiries concerning your credit history and standing, and we may report information concerning your payment performance to credit reporting agencies. Late payments, missed payments or other defaults on your account may be reflected in your credit report.

How can I tell if my jewelry is actually gold, rather than just gold-plated metal?

Take a very strong magnet and see if the jewelry sticks to the magnet. If it does, there are other metals in your jewelry and Moneytree will not be able to purchase that item from you. Some metals are not attracted to a magnet such as silver or copper. Though not detectible through a magnet test, additional tests, which Moneytree can perform, will reveal if the item is gold plated.

How do I know that my gold is being valued correctly?

By visiting a convenient Moneytree location your gold will be tested in front of you by a trained team member. We’ll perform two initial tests on the item before making a competitive bid to purchase your gold pieces. If you agree to the price, we’ll do a final test to confirm that the items are solid gold. We also welcome you to get other bids on your items to feel more comfortable with our offer.

How do I qualify for a loan?

While the requirements vary slightly by state, in general, to qualify for a loan you must have:

  • ID and Social Security Number (or Alien Number or ITIN)
  • Address and verifiable contact numbers
  • Verifiable source of income (written verification required in Colorado and Nevada)
  • A checking account (California, Colorado and Washington only)

To view state-specific loan qualification criteria, please visit your state's loan approval page.

How do I repay my online loan?

California, Idaho, Nevada, Washington

Just as with receiving the loan proceeds, the process is automatic and convenient. An electronic withdrawal will be made from the account you provided to us on your loan application on the loan's due date via an ACH transaction. If you would prefer to pay from a different account, you may pay online. You can use a different checking account or debit card. Any change in payment method must be made prior to 1 pm Pacific Time on the date the loan is due in order for the change to be processed for the current payment.

If you aren’t sure about your loan due date or the amount you owe, please call the Customer Service Team at 877.613.6669. They are available to help 24 hours a day, seven days a week.

How fast can I get money for my gold?

Bring your gold into any participating Moneytree branch where we will estimate the value of your gold, make you an offer and purchase your gold in just minutes!

How fast will I receive my money?

California, Idaho, Nevada, Washington

Once your payday loan has been approved, your money is available immediately for pick-up at any Moneytree branch. If you are an existing customer and have a prepaid debit card that you purchased at Moneytree, you can have the money instantly deposited on your card. Otherwise, your loan proceeds can be deposited into your checking account in 1-3 business days!

How much does it cost to cash a check?

Moneytree charges a small percentage of the face amount of the check plus a 99 cent transaction fee for checks over $20.00. It is our goal to charge a competitive rate in all markets. Rates are posted at every branch and on each online menu board which can be viewed by using the branch locator. Plus, money orders are always free when you cash a check at Moneytree!

How much is my gold worth and how much will you pay?

The price of gold changes daily. Moneytree will make you an offer based on the weight and gold content of your scrap gold items and the current price of gold.

How often do people typically borrow money?

A payday loan is a short-term loan to cover an occasional, unexpected cash shortage between paydays. A payday loan does not provide the kind of help intended if used repeatedly to the point of incurring additional debt. We recommend that you investigate other financing options if you are planning on borrowing money beyond your next payday.

If a payday loan is quick and simple, why is there so much information on the Loan Agreement and Disclosure Statement?

The Loan Agreement and Disclosure Statement is a contract between you and Moneytree. It outlines the terms of the loan, including the cost of the loan expressed as a dollar amount and as an annual percentage rate. It is Moneytree's intent that you understand all of the terms of the loan prior to completing the transaction.

If I choose to renew my loan, can I repay part of the principal and renew only a portion of the loan?

Idaho, Nevada

You are encouraged to repay any part of the principal you choose and only borrow the amount you need during the upcoming time period.  We will accept any size repayment of principal prior to making another loan to you.

If I choose to take out successive loans, can I make the subsequent loan for an amount smaller than the current loan?

Your subsequent loan may be made for less than the amount of the current loan. You are encouraged to only borrow the amount you need during the upcoming time period.

If I need to borrow additional funds before my loan is due, can I add on to my original loan?

Nevada

Moneytree allows you to borrow up to the amount you qualify for. If you borrowed less than that amount and your loan was done in Idaho or Nevada, you can visit any branch and add onto your loan. If your loan was taken out in the state of Washington and was less than the amount you qualify for, you may borrow the additional amount, however the additional amount will count as a new loan and not as an add-on to the original loan.

In Colorado, a customer may take out an additional loan up to and including the full amount of his or her limit provided that at least 30-days has elapsed since the origination date of the most recent loan. The add-on is given a new six month term and a new set of monthly payments. The monthly payments for the add-on loan will begin one month from its origination date and may or may not be due on the same date as the original loan. Add-ons are not available in the state of California.

If my check is returned unpaid by my bank, will I be charged a fee?

Returned item fees are determined by state law. This chart highlights those fees.

If my check is returned unpaid by my bank, will I be charged a fee?

California

Yes. Returned item fees are determined by state law. The returned item fee in California is $15.

If my check is returned unpaid by my bank, will I be charged a fee?

Idaho

Yes. The returned item fee in Idaho is $20.

If my check is returned unpaid by my bank, will I be charged a fee?

Washington

Yes. The returned item fee in Washington is $25.

If my check is returned unpaid by my bank, will I be charged a fee?

Nevada

Yes. The returned item fee in Nevada is $25.

If there are gems in my jewelry, will I get paid for them as well?

Moneytree only purchases the gold content in jewelry. You may remove the gems from the jewelry after you’ve made the decision to accept the offer and sell the item. You can also remove the gems prior to bringing the item in.

Is all gold worth the same amount?

The actual price you'll receive for your scrap gold items depends on the weight and the karat value of the gold. For example, an ounce of 18 karat gold is worth more than an ounce of 10 karat gold. The higher the karat number, the higher percentage of pure gold in the item. The karat content is often stamped on the item.

  • 24 karat is 24/24 or 100% gold.
  • 18 karat is 18/24 or 75% gold
  • 12 karat is 12/24 or 50% gold

Is there a limit on the amount of gold Moneytree will buy?

No, Moneytree will buy as little or as much gold as you want to sell.

What about fees?

Fees for payday loans, check cashing and all of our other services are available on each branch page. Type your city, state or zip code in the “Find a Branch” field and select a branch for details on fees, step-by-step driving directions, hours and other details. Find the Moneytree branch near you to learn more!

What are the benefits of using a prepaid debit card?

A prepaid debit card is loaded with your money, so you choose how much to load and your money is available to use immediately. You don’t pay any interest, late fees or overdraft fees. With a prepaid debit card you only spend what you’ve loaded onto the card. The prepaid debit cards offered at Moneytree feature free* direct deposit, free* loads and withdrawals at any Moneytree branch, online card account management, the ability to withdraw cash at ATMs (for a fee), make PIN purchases and set up text message balance alerts (standard text messaging rates may apply).

* While these features and many services are available for free, there are also some fees associated with your card. Please read your cardholder agreement for more details.

What are your hours?

Moneytree branches are open extended hours – evenings - holidays and weekends – to serve you! Click here to find the hours of the Moneytree branch near you or call 888.604.MONY (6669).

What happens if I can’t repay Moneytree on my due date?

Nevada

Occasionally circumstances may arise that change your ability to repay. If this occurs, you have options:

  1. In certain cases, you may renew the terms of your loan by paying the additional fee to extend the loan due date until your next payday. The renewal may occur prior to the time your loan check is sent to the bank or your electronic transaction is deposited. You may extend the term of your loan a maximum of three (3) times. After that time, the loan must be paid in full.
  2. As a member of the Community Financial Services Association (CFSA), Moneytree offers the CFSA Extended Payment Plan. You may request a payment plan to restructure the payment terms to at least four (4) substantially equal payments. You may choose this option once per 12-month period. You may enter into a payment plan at any branch prior to 3 pm Pacific Time on the loan due date or by processing the payment plan through our Customer Service Department prior to 1 pm on the loan due date. There is no charge to enter into the CFSA Extended Payment Plan. After repaying your payment plan, we may re-evaluate your credit limit. Additional details about this option are available at any Moneytree branch or by contacting our Customer Service Department at 800.745.1011.

What happens if I can’t repay Moneytree on my due date?

Washington

If you have difficulty repaying Moneytree you have options:

  1. At your request, by calling any Moneytree branch or the Customer Service Department at 800.745.1011, prior to 3 pm on the loan due date, Moneytree may offer you a grace period that extends the time you have to repay the loan at no additional fee.
  2. You may enter into the payment plan offered in connection with this loan by notifying us before 3 pm on the loan due date that you are unable to repay your loan as scheduled. If the amount you owe us is $400 or less, you may enter into a payment plan that allows you to pay off your loan in substantially equal payments over 90 days. If the amount you owe us is more than $400, you may enter into a payment plan that allows you to pay off your loan in substantially equal payments over 180 days. During the term of your payment plan you will not be eligible to take out a payday loan from any licensed payday lender. After repaying your payment plan, we may re-evaluate your credit limit.

Additional details about these options are available at any Moneytree branch.

What happens if I can’t repay Moneytree on my due date?

Idaho
Occasionally circumstances may arise that change your ability to repay. If this occurs, you have options.

In certain cases, you may renew the terms of your loan by paying the additional fee to extend the loan due date until your next payday. The renewal may occur prior to the time your loan check is sent to the bank or your electronic transaction is deposited. You may extend the term of your loan a maximum of three (3) times. After that time, the loan must be paid in full.

You may request a payment plan to set up payment arrangements to repay the loan in at least four (4) equal payments for at least 60 days. You may enter into the payment plan anytime during the term of the loan, up to 3pm Pacific Time / 4pm Mountain Time on the due date. There is no fee to enter into this payment plan. Payment due dates will be timed with your paydays. We will not begin collection activities while your payments are made as agreed. During the payment plan period, you will not be eligible to take out another Moneytree loan. Restructuring your loan payments may affect your credit limit with us in the future. You will be in default on your payment plan if you fail to make any payment as agreed. If you default on your payment arrangements, the total unpaid balance will be due immediately and you will be charged a default fee as follows:

  • Payday Loan – $20
  • Loan without a Checking Account – $12.50 or 5% of the unpaid amount, whichever is greater

After repaying your payment plan, we may re-evaluate your credit limit. Additional details about this option are available at any Moneytree branch or by contacting our Customer Service Department at 800.745.1011.

What happens if I cannot repay Moneytree on my due date?

We know that it is your intention to repay your loan on the due date. It is our goal to loan only as much as you can comfortably repay during the loan term. However, the answer to this question depends upon the state in which your loan originated.

For more information, please select your state: California Idaho Colorado Nevada Washington

If you find that you cannot repay your loan, we recommend that you do not take out additional loans in order to repay the original loan. For further information about alternate loan repayment options, please contact the Customer Service Department at 800.745.1011.

What happens if I can't repay Moneytree on my due date?

California

Occasionally circumstances may arise that change your ability to repay. If this occurs, you may choose to enter into the Community Financial Services Association of America (CFSA) Extended Payment Plan. You may request a payment plan to restructure the payment terms to at least four (4) substantially equal payments. You may choose this option once per 12-month period. There is no charge to enter into the CFSA Extended Payment Plan. You may choose this option prior to the deposit of your current loan. After repaying your payment plan, we may re-evaluate your credit limit. Additional details about this option are available at any Moneytree branch or by contacting our Customer Service Department at 800.745.1011.

What happens if I default on my loan?

California

If your loan goes into a default status, Moneytree is committed to collecting your debt in a professional, fair and lawful manner. We follow the applicable Fair Debt Collection Practices Act guidelines when collecting defaulted loans. You will be charged a one-time $15 fee if your check returns unpaid. We will contact you and ask for payment, and we may make reasonable payment arrangements with you. Additional interest will not accrue after default. We may refer your account to an outside collection agency. After a loan goes into default status, we may re-evaluate your credit limit. You can reach Moneytree’s Payment Center at 1.888.516.6643 for more information.

What happens if I default on my loan?

Nevada, Washington

If your loan goes into a default status, Moneytree is committed to collecting your debt in a professional, fair and lawful manner. We follow the applicable Fair Debt Collection Practices Act guidelines when collecting defaulted loans. You will be charged a one-time $25 fee if your check returns unpaid. We will contact you and ask for payment, and we may make reasonable payment arrangements with you. Additional interest will not accrue after default. We may refer your account to an outside collection agency. After a loan goes into default status, we may re-evaluate your credit limit. You can reach Moneytree’s Payment Center at 1.888.516.6643 for more information.

What happens if I default on my loan?

Idaho

If your loan goes into a default status, Moneytree is committed to collecting your debt in a professional, fair and lawful manner. We follow the applicable Fair Debt Collection Practices Act guidelines when collecting defaulted loans. You will be charged a one-time $20 fee if your check returns unpaid. We will contact you and ask for payment, and we may make reasonable payment arrangements with you. Additional interest will not accrue after default. We may refer your account to an outside collection agency. After a loan goes into default status, we may re-evaluate your credit limit. You can reach Moneytree’s Payment Center at 1.888.516.6643 for more information.

What if I change my mind about borrowing the money?

California, Idaho, Nevada, Washington

You may choose to rescind (cancel) your payday loan, at no cost, at any time until the close of the following business day. To do so, simply call our Customer Service Department at 800.745.1011 or visit your nearest Moneytree branch.

What if I don’t want to sell my gold after Moneytree makes an offer?

Moneytree is pleased to provide you with a free, no-obligation quote. You can decide whether to sell at any time during the process.

What is a payday loan?

A payday loan is a short-term loan between today and your next payday.

What is an ACH transaction?

ACH stands for Automatic Clearing House Transaction. An ACH transaction is a method of electronically depositing or withdrawing funds from an account.

What services does Moneytree offer?

In retail branch locations, Moneytree offers check cashing, consumer loans, business loans (California, Idaho, Nevada and Washington), money orders, Western Union wire fund transfers, prepaid debit cards and prepaid phone and gift cards. Select locations also offer bus passes.

Moneytree also offers gold buying in participating locations in Washington, Idaho and Colorado! Click the "Find a Branch" link at the top of the page to find a gold buying location near you.

Visit our online branch to apply for a payday loan (California, Idaho, Nevada and Washington). You can also make a payment or renew your loan (in select states) on our website. Visit our online branch to apply for a business loan if your business is located in California, Idaho, Nevada or Washington.

What types of checks will Moneytree cash?

Moneytree cashes all types of checks including payroll, government, personal, two-party, cashier's checks, money orders, insurance drafts, and more. No check is too large or too small for Moneytree to cash.

What types of gold does Moneytree buy?

Moneytree buys all types of gold items including: gold jewelry, bracelets (including bent & broken items) rings, necklaces (including tangled gold chains), earrings (including unmatched items), and any other gold items. Most items are considered “scrap gold.”

When do I need to repay my loan?

Idaho

If you are paid weekly, biweekly, or twice monthly you can choose to repay your loan on any payday within 24 days. If you are paid monthly, your loan will be due on your next payday.  If your next monthly payday is within 9 days from the date you take out the loan, you can choose to repay your loan on the subsequent payday. 
 

When do I need to repay my loan?

Nevada

If you are paid weekly, biweekly, or twice monthly you can choose to repay your loan on any payday within 24 days. If you are paid monthly, and your next payday is within 9 days from the date you take out the loan, you can choose to repay your loan the following month. The maximum loan term per Nevada law is 35 days.

 

When do I need to repay my loan?

Washington

If you are paid weekly, biweekly, or twice monthly you can choose to repay your loan on any payday between 8 and 24 days. If you are paid monthly, and your payday is more than 9 days away, your loan will be due on your next payday. If your next payday is within 9 days from the date you take out the loan, you can choose to repay your loan on the subsequent payday. In all cases, the minimum loan term is 8 days. The maximum loan term per Washington law is 45 days.

When do I need to repay my loan?

Colorado

Loan payments will be set up in six substantially equal installments, starting one month from the date you take out the loan.

When do I need to repay my loan?

California

If you are paid weekly, biweekly, or twice monthly you can choose to repay your loan on any payday within 24 days. If you are paid monthly, you can choose to repay your loan on any payday within 31 days. The maximum loan term per the Department of Business Oversight pursuant to the California Deferred Deposit Transaction Law is 31 days.

Where are your locations?

Moneytree has branches located throughout California (in San Diego and near Los Angeles), Colorado, Idaho, Nevada, Washington and in British Columbia, Canada. To find a branch near you, enter your city, state or zip code in the “Find a Branch” field or call 888.604.MONY (6669).

Where can I check my prepaid card balance?

There are several ways that you can check your card balance:

  • Login to your card account and check your balance for free anytime.
  • Download the mobile app (from iTunes or Google Play) which allows you to: check your balance, transactions and loads, set up alerts and more!
  • Text BAL to 24567 for your available balance. Standard text messaging rates may apply. See your cell phone carrier for details.
  • Visit any Moneytree location and a teller can check your balance for you.
  • Call the automated system at 866.692.9356 and follow the voice prompts to access your balance.

Where can I get more information about Prepaid Cards?

To learn more about prepaid cards view the frequently asked questions available on the prepaid card website. Complete terms and conditions for your prepaid card account can be found in the Cardholder Agreement.

Where is Moneytree located?

Moneytree has branches located throughout Southern California, Colorado, Idaho, Nevada, Washington and in British Columbia, Canada. Call 888.604.MONY (6669) or visit our branch locator to find the location nearest you.

Why do businesses choose to cash their checks at Moneytree?

Businesses choose to cash their checks at Moneytree because we offer a quick and convenient check cashing option and are open extended hours including evenings and weekends. Moneytree gives companies immediate cash rather than requiring them to wait for their money.

Why do people choose a payday loan?

Many people choose a payday loan when they need to pay for unexpected expenses, avoid late fees or cover temporary reductions in income.

Why do people choose to cash checks with Moneytree?

Moneytree offers a quick and convenient check cashing option, we are open extended hours when most banks are closed and give you immediate cash.

Why should I sell my gold to Moneytree?

  • Get immediate cash for your gold!
  • Competitive rates.
  • We test and weigh your gold and provide you with a free quote - then you decide whether to sell your gold.
  • Our branches are open convenient hours, including evenings and weekends.

Will my credit score be impacted if I can’t repay my loan on time?

We may report information concerning your payment performance to credit reporting agencies. Late payments, missed payments or other defaults on your account may be reflected in your credit report.