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| MyCashNow Star Ratings |
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StarReviews loved how easy the process was when applying for the payday loans. First, the individual will be asked to fill out their employment status, his bank information, and show proper identification. Afterward, they will be informed as to how much may be borrowed. Loan amounts will vary, because they depend upon how much the borrower earns. Next, the individual will be asked to write a check for the loan amount to be advanced. The accountant will count the cash out in front of the individual then ask for a signature. In two weeks the loan must be paid back along with all added charges. If the loan is not paid back when due, the check will be cashed. Fortunately, if the money cannot be paid back within the two week time period, the individual may request an extension for another two weeks.
One feature that we really liked about MyCashNow was that all the
benefits and rewards, including the frequently asked questions were
easy to spot on the left side of the Home page under “Learn More.” Here,
everything from fees, how to know if a loan is approved, and how to
access the cash is answered in simple, easy to understand terms. The
prospective borrower must be at least 18 years old, have an open and
working checking account, have at least $1000.00 deposited monthly into
the account, have proof of income, photo identification, and the bank
account must not have been opened any earlier than 90 days prior. The
home phone number must be a working number, and the number of the
client's employer should be given for verification of employment.
If everything was filled out online correctly, the company will immediately3 process the information and contact the customer the instant the loan is approved3. We liked knowing that we could access the money1 once it is approved. The cash advance must have been approved by 4pm PST in order to receive it by the next business day. Payday loans
approved on Fridays will receive the cash advances on Monday and if
somehow the loan is approved over the weekend, the money will be
available by Tuesday. All the benefits and rewards such as preferred
member program and referral program are under “Tools” on the Home page.
Features of MyCashNow:
- The “Our Low Fees” page was clear, concise, and
listed amounts borrowed all the way up to $15005 only for previous
customers.
- Preferred member program
- Referral Program in which customers can earn up
to $1004 or more.
- New customer rewards. Currently, all new
customers receive 25% off their initial loan fees.
What's New with MyCashNow?
- The new customers discounted fee rates. That is a whopping 25% discount.
- The new customer referral program is an outstanding feature whereby a regular client offers his code to family members and friends as a referral to the company.
- The “Our Low Fees” Page allows anyone to visit the website and see right up front the fees charged for specific loan amounts.
StarReviews Favorite MyCashNow Features:
The customer referral program is one that many customers will want to use. The customer is given two options: Option 1 is a code that will be assigned which may then be given to friends, family and everyone else who may need a payday loan. Option 2 allows you to log in to the referral site; which has three smiling faces to make it even easier to find. After clicking on this, you will be asked to enter the prospective new customer's email address then click “Send Bonus Referral Emails NOW.” Instruct family members and friends to add the code when replying in order to receive your reward money of $1004 or more.
Another reward program listed is the Preferred Member program. We thought this was also an exciting feature because it works by giving incentives, or discounts to repeat customers. It works by offering the client three levels of membership to strive for. First is the Silver Member who has advanced five loans and will receive 10% off on their sixth loan. The next level is the Gold Member. In this case, the customer will earn 20% off their 11th visit after successfully receiving and paying off ten previous cash advances. Lastly, the Platinum Member status offers 30% off of a customer’s next payday loan after 15 short term cash advances.
MyCashNow Requirements:
Below the frequently asked questions
section is a chart showing the available hours and days for added
convenience. After filling out the online application and submitting
financial proof of employment, checking account, proper identification,
phone number, and employment verification, we were able to receive a
response by 3PM that same day and were able to pick up cash from the
bank the very next morning1. The customer service with MyCashNow
is also excellent. It’s obvious that convenience, trust, and financial
security of their customers are the first and foremost priority with MyCashNow.
Their attention to detail, formatting, ease of navigation through their
website, and easy explanations make the process so simple.
MyCashNow Pricing:
- Currently, all fees are cut by 25% for new customers.
- No hidden fees
MyCashNow Customer Support
The customer support service was excellent and the customer service representative we spoke with was trained, friendly and professional and was available to answer all questions. They are also happy to assist in helping fill out the application and talked us through the entire process.
Each customer service question, such as when to know when the loan is ready, to how to fill it out online was answered immediately and with a positive attitude. At no time was any other product brought up in the conversation. Each type of customer service from email to telephone was quick, courteous, and friendly. The response times were immediate when calling, and within an hour when using email contact. The times listed for prompt response when calling are Monday through Saturday 24 hours per day with some exceptions. Sundays are closed.
Upsides
25% off new customer fees
Prompt customer service response time
Prompt loan approval3
Member Referral service
Member Reward Program
Customer Testimonials
Downsides
We saw none
1MyCashNow.com funds are generally deposited via
ACH for delivery next business day if approved before 7pm ET Mon. - Thu.
2MyCashNow.com does not perform traditional
credit checks as part of its credit transaction approval process, but does
verify applicant information via credit reporting agencies including, but not
limited to, Teletrack and Clarity. Applicant’s repayment history, with
MyCashNow.com or others, may impact qualification for a payday loan.
3Eligibility for instant approval depends on the
applicant meeting verification and qualification criteria. Some payday loan
applicants may be required to submit documentation due to qualification
criteria.
4Referred person must be a first time customer
with MyCashNow.com and approved on first application. See REFERRAL PAGE for
details.
5Maximum funded amount for a payday loan with
MyCashNow.com depends on qualification criteria.
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