Moneytree works hard to be the best provider of payday loans and other financial services. Whether you apply online or in a branch, a Moneytree Payday Loan is fast, simple and secure.
What do I need to apply?
As part of the application process, you will need to provide the following:
Your ID and Social Security Number (or Alien Registration Number or ITIN)
Your address and phone number(s)
Your source(s) of income
An open checking account
Have a question?
Contact our Customer Service Team 24 hours a day, seven days a week.
Phone: 877.613.MONY (6669)
What is the term of a payday loan?
The term of a payday loan is determined by the frequency of your paydays. 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.
How much does a payday loan cost?
A payday loan costs $16.50 per $100 borrowed. For example, if you borrowed $100 and your payday was 14 days away, the APR (Annual Percentage Rate) would be 430.18%*, and you would owe $116.50 on the date of your next payday.
*The Annual Percentage Rate (“APR”) is the cost of your loan expressed as a yearly rate. The actual APR for your loan may be higher or lower, depending on the actual amount you borrow and your actual repayment schedule.
Customer Notice: A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended as long-term financial solutions.
Moneytree is licensed by the Nevada Financial Institutions Division and registered with the federal government as a Money Services Business (MSB).
Moneytree is a member of the Community Financial Services Association (CFSA), the Financial Service Centers of America (FiSCA), California Financial Service Providers Association (CFSP), an the Colorado Financial Services Centers Association (COFiSCA). Moneytree actively supports laws, regulations and industry best practices that protect consumers and preserve access to credit. As a member of the Community Financial Services Association of America (CFSA), our company encourages responsible industry practices and proudly supports and abides by CFSA’s Best Practices
How do I repay my online loan?
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.
If I choose to renew my loan, can I repay part of the principal and renew only a portion of the loan?
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 need to borrow additional funds before my loan is due, can I add on to my original loan?
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.
What if I change my mind about borrowing the money?
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.
How fast will I receive my money?
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!
What happens if I can’t repay Moneytree on my due date?
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.
- 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.
If my check is returned unpaid by my bank, will I be charged a fee?
Yes. The returned item fee in Nevada is $25.
What happens if I default on my loan?
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.
Can I renew my loan?
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.
When do I need to repay my loan?
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.