NationalMoneyStore's Charges

Interest Fee & Transaction Charges

We charge an interest fee of £30 per £100 for each pay cycle (30 days). To learn in detail about our product, visit the section that explains our Flexible Repayment Plan.

You can choose to receive your loan the same day (with an Express Cash transfer) at a cost of £15. The fee will be deducted from the loan amount before it is transferred to your bank account. We also offer a slower option (called BACS), which is free of cost. It takes up to 3 business days  when you opt for BACS.

Other Charges
In case you default on your payment on the due date, due date, we charge an initial arrears fee of £12. If this persists, an additional default fee of £10 will be charged. We understand that, at times, you might find it difficult to make the required payment on time. So, it is essential that you notify us in advance about your inability to make the payment. This is to ensure that your account doesn't fall into the collections process, in which case you would incur an additional 40 GBP fee (this is to pay for the additional work that the collections process requires).

Flexible Repayment Plan

Repaying the entire loan amount within a month can at times be difficult for you. As much as we believe in responsible lending, and in making sure that you do not get into a cycle of endless debt, we would like to take into consideration your financial state. So, we have built our product to offer you flexibility in repaying your loan amount. Whenever you borrow from us, we will extend your loan for additional pay cycles/months (based on the loan amount):

Upto £100 loan for 4 months/instalments (we call it pay cycles)

Loans of £100 to £170 in 5 instalments

Loans above £180 in 6 instalments

Our flexible repayment plan will allow you to make your payment in equally split instalments, which relaxes the burden on your finances. At the same time, you have the freedom to close your loan any time during this extended duration, without incurring any penalties for prepayment. The repayment chart will tell you exactly how much you will be repaying if you borrow from us.

Repayment Date

Your repayment date will be the first payday (when you receive your pay cheque) falling at least 8 days from the date of approval of the loan, in order to ensure that you can repay the loan conveniently.

For example, if the loan is approved on the 21st of March, and your first payday following this date is April 1st, then April 1st is your repayment date. However, if your loan is approved on the 25th of March, and the first payday is April 1st (which falls less than 8 days from the date of approval of the loan), your repayment date will be May 1st.

Repayment Date - Extended Cycles

When you’re unable to repay the loan amount in full on the first repayment date, and the loan is refinanced for additional pay cycles, we debit only the interest due for the first month. From the second month onwards, till the final repayment date, we debit a fraction of the principal, which will be split in equal instalments, along with the corresponding interest (calculated on the outstanding principal).

At any point during this extended repayment cycle, you can choose to make an early repayment to keep the interest to a minimum. We charge no prepayment penalties.

If you have an active loan and wish to make an early repayment, call us at 0844 251 0530.