- 247MoneyBox have been in operation since 2006.
- They have a secure application form on their website and this can be seen by the HTTPS in the address bar.
- Registration and approval is required before you can get an SMS or text loan with 247MoneyBox. Registration is all done online in a few minutes. They do run an ID check against you as is the case with most text loan lenders.
- They provide a free BACS (up to 3 working days) loan transfer service direct to your bank account and also provide a same day transfer service costing just £6.
- 247MoneyBox do not charge for registering and so it is free to apply for a loan with them.
- Their finance charge of £33 for every £100 borrowed is more than the typical rate of £25 across the text and payday loan industry.
- Advantages: 247MoneyBox offer a highly convenient service by allowing registered customers to use their mobile phone to apply for a loan by SMS or Text message.
- This text loans service is also offered to, at the underwriter’s discretion, the self-employed and those who receive wages on a weekly basis as well as monthly.