247Moneybox Loans | www.247moneybox.com Reviews

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247Moneybox Loans

About 247Moneybox Loans (Closed = Further Details to Follow Soon)

247Moneybox is one the UK’s largest payday lenders. This brand is the sole operation of Active Securities Ltd that was incorporated in 2006. 247Moneybox’s launch would follow a few years later in 2009 and so they have just marked their impressive 10 year anniversary. Outside of the UK, this project had been extended to Canada and New Zealand. Both sites were however soon taken down. As suggested by the name, this service operates as a “24/7 Money Box” hence you (as an existing customer) can request subsequent borrowings on any day around the clock. It should be noted however that their customer support hours are restricted to Monday to Friday (8.30am to 6pm).

When applying for the first time at www.247moneybox.com you’ll be able to access a modest £200 max, but in the future this limit is increased to £800. When price capping hit the payday sector we saw most lenders adapt to cater instalments, but this company opted to stick with their original monthly-only service. This experienced lender has clearly benefited from the closure of such heavyweight brands as PaydayUK, WageDayAdvance and Wonga. Regardless of these key closures, this is still a tricky sector to compete in and they’ve grown impressively through minimal advertising. Even still, they’ve attracted more than 83,000 fans on Facebook alongside attracting over 3700 reviews on Trustpilot where their rating is fair at 81%.

Company Details

Address: 20-22 Wenlock Road, London, N1 7GU

Brand: 247Moneybox (aka: 247 Moneybox)

Company: Active Securities Ltd

Contact (📧): customer.services@247moneybox.com

Contact (☎): 0207 183 8078

FCA Licence: 673915

Launched: 2009

Niche: Payday

Opening Hours: Mon/Fri (8.30am-6pm)

Related Brands: Non

Site Address: www.247moneybox.com

Site Rank (Alexa UK): Unranked | 707k (global)

Product Specs

Amounts Available: £80 to £200 (£800 on reloans)

Late Payment Fee: £15

Login Provided: Yes

Pricing: £24 /£100 (1m)

Repayment Terms: 1 month

Review Feedback

Feefo: Not listed

Reviews: Less than 10 feedback

Trustpilot: 81% (3720+ count)

Rivals & Similar Lenders Like 247Moneybox

As was noted above, most competitors switched to focus more on instalments. There are few firms that stuck with monthly-only lending. The only other recognisable firm that kept things the same was WageMe. The lesser well known Quick Loan Shop did change, but the other sites with that group such as Sunshine Credit stuck with monthly. 247Moneybox’s key rivals are those all with the goal of becoming the 2nd biggest lender. These are Drafty, Ferratum, PiggyBank and SafetyNet Credit. It doesn’t seem that anyone really has an answer to the market leader (QuickQuid) at this time. Of those noted rivals, SafetyNet would be a great alternative as you can access their service 24/7 and there is greater repayment flexibility.

Last Check @ www.247moneybox.com: February 13th, 2020

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