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Money Shop, Peterborough

Opening times

Money Shop is currently OPEN for business

1 review posted but no photos posted yet - be the first to post!

	Opens	Closes
Monday	9:00 AM	5:00 PM
Tuesday	9:00 AM	5:00 PM
Wednesday	9:00 AM	5:00 PM
Thursday	9:00 AM	5:00 PM
Friday	9:00 AM	5:00 PM
Saturday	9:00 AM	5:00 PM
Sunday	10:00 AM	4:00 PM
Bank Holidays	No bank holiday opening hours for this place

 

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Friday 26th April 2024 11:36 am

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Reviews

 

• The CASH SHOP. This company has changed the way it conducts it's business. The policy used to be a loan, based on collateral deposit. This could be paid off after 10 days and the interest adjusted accordingly. This made the the proposition of using the service attractive. The new terms are for 30 days minimum and prompt payment is required. Anyone that found themselves during the pandemic unable to redeem was forced into these new terms and conditions. This is totaly barbaric actions from a company using the Dire World Climate to make themselves a fortune. The way the agreement currently as it stands now is that you agree to sell the item to them at a ridiculously low price and they will allow you to extend if you pay on the exact day. There are no exceptions to this! Even if there was a proved valid reason they would take possession of the item. Also if you pay the extension early you lose however may days that may be prior to the contracted end date. So if the contract states payment to be made on the 20th of the month and you pay it on the 15th. The next months payment is due 30 days after the 15th. So in principle you have lost 5 days more interest. Also if for instance if your contract expires on the 10th and you wanted to go in to pay redeem the item on the 11th in store? Ethically you would think this would be fine. Well this is not the case. Even the next day will see you incurring a further 30 days interest if they chose to not keep the item, whichever makes them more money I guess. The maximum 7 weeks interest is a good thing. There are so many pitfalls with their ZERO tolerance policy though chances are you may have difficulties at some point and lose the item. I was a good customer and used the different facilities available. I am now terminating all business as quite frankly the whole company has changed is position, from a helpful Pawnbroking agency to that of one committing daylight robbery. I have not lost any items and have no qualms with the cash shop, apart from its practices. I feel the need to let the prospective customers know exactly what they are getting themselves into. It is not fully explained at any point during the transaction, the documents are handed over in exactly the same way as they previously were. Under the pretence that nothing had changed. Unless you spend the time to read these documents. It would not surprise me if there was a class action law suit further down the line as with a lot of other companies under the umbrella of Loan/Pawnbroking companies. There is a code of ethics within the Pawnbroking sector and this needs to be highlighted. The staff however are friendly, excellent at their jobs and efficient. The manager is impeccable, unfortunately within the confines of the decisions made from the Greedy powers that Sit on the board, the Peers above them. How this type of business model can be implemented especially with the cost of living crisis ongoing is outrageous. These people should be ashamed and I will be taking this complaint to the relevant governing bodies and seeking legal advice. In reference to your extensive reply....... you have failed to cover many of the points made! Simply by only quoting from what could only be described as a cut and paste from your brochure to your AGM or shareholders and investors. There are legal requirements in this sector and I'm sure that your team of lawyers have all of the T's crossed and I's dotted..... This response is complacent and proves you have obviously not even read the review in full as the answer you've made is more embarrassing to you as a complaints handler. Be sure I'll be forwarding this along with my formal complaint to your head office and keeping copies for legal purposes in the future. The FSA I'm sure will be interested in certain procedures you have in place. Also I have been using these services for well over 2-3 years and in direct response to your statement saying that you informed me prior to the changes taking affect, that just is not correct. Further you compounded my point about the procedure change during the height of the pandemic.
  Harry Reviewed 22nd June 2022 5:51 AM

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Parking near

Queensgate Centre - Perkins, Peterborough, PE1 1NT (0.15 miles)

Queensgate Centre - Clare, Peterborough, PE1 1NT (0.15 miles)

Lincoln Road, Lincoln Road, Peterborough, PE1 2RL (0.16 miles)

Trinity street, Trinity Street, Peterborough, PE1 1DA (0.22 miles)

Craig street, Craig Street, Peterborough, PE1 2EJ (0.28 miles)

Train stations near

Peterborough (0.32 miles)

Whittlesea (5.48 miles)

Stamford (Lincs) (11.20 miles)

March (14.04 miles)

Spalding (15.25 miles)

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