Frequently Asked Questions

When making your choice on a payday loan, there's no need to wonder, Express Money Center has your answers.  We know that you need straightforward facts to make an informed decision about using a payday loan service. Take a moment to review the answers to these questions frequently asked by new payday loan customers.

What is a payday loan? A payday loan is a short-term personal loan that is backed by your pay check. When your application is approved, funds are electronically deposited into your checking account.  When your loan is due, it is repaid with a pre-authorized electronic withdrawal from your checking account for the loan amount borrowed plus a finance charge. This is usually on your next payday after your receipt of the payday loan.

Why should I use Express Money Center? Express Money Center is a state authorized lender/facilitator. That means it's legal for us to loan in your state. We're not skirting laws and hiding in the shadows asking you to trust us. We lend legally and ethically with fully disclosed rates and the 24 hour customer service to back it all up. In fact, people from all walks of life call and email us every day thanking us for competitive rates, great service and the cash they needed to move on in their life.

How are fees established? Fees are mandated by the state in which you reside. For a complete view of your fee to loan calculation select the Finance Charge Schedule document according to your state. Click here to go to the State Disclosures link.

What's the benefit of Express Money Center Membership? Membership with Express Money Center is more than a password and user name-it's access to exclusive features like our fact filled and informative newsletter, money saving tips, real-time status on your loan, payment reminders and a completely intuitive member interface that allows you to make the Express Money Center experience your own. Couple these exclusive features with rigid security features, the peace of mind that with a few clicks you're covered in a cash crunch and you'll see why Express Money Center is heads and shoulders above all other online lenders. But don't take our word for it, our customers can speak for themselves.

Does Express Money Center check my credit rating? No, we do not obtain a credit report from any of the three major credit bureaus. Often people who have had past credit problems receive loans from us. We do, however, subscribe and report to CL Verify, a risk assessment service that tells us if customers are current in their payments to other businesses like ours and whether our customers have payday loans outstanding with other companies that subscribe to the same service

How do I receive the cash, and how do I repay the loan?
When you sign a loan contract, you authorize Express Money Center to facilitate:
Direct deposit of your requested loan amount into your checking account.

Direct withdrawal the loan amount and fee on your next payday. Please see our state by state fee schedule for more information on how much a paycheck loan costs.

How will I know you will only withdraw what I owe on the loan? Express Money Center was built on integrity and a superior customer experience. We honor and are regulated by state financial regulations and the Better Business Bureau. We have no legal right to withdraw more from your account than you authorize in the loan agreement.

How long does it take to be approved? Once you click submit, your application is quickly reviewed for approval. It usually takes less than a day for approval after we have received all your information. Once your application is approved, you can log in to the Members Section and request your loan amount.

How soon can I receive a cash advance? Once your loan is approved, a Express Money Center cash advance usually funds within 24 hours of your request. If you are requesting your second payday loan, you are free to borrow once payment of the previous loan has been verified (this may vary by state).

What if I request it on Friday or a weekend? A loan approved on Monday through Thursday before 6:00 p.m. Pacific Time (9:00 p.m. Eastern Time, 8:00 p.m. Central Time, 7:00 p.m. Mountain Time) is usually deposited in your account on the following day. Due to bank hours and days of operation, a loan approved after 6:00 p.m. Pacific Time on Thursday, or at any time on Friday, will usually be deposited in your account on the following Monday. A loan approved on a Saturday or Sunday will usually be deposited in your account on the following Tuesday. Always verify the deposit has arrived and is available for withdrawal before writing any checks on that deposit.

Is my loan confidential? Absolutely. We do not disclose information about you or your loan except in accordance with our Privacy Policy and your permission.

What if I can't pay the loan on the due date? We understand life has ebbs and flows which may make payment difficult when your pay date arrives. Express Money Center does offer a refinancing* on your short term loan. If you know you won't be able to repay on your due date, please contact us immediately. You may be eligible to receive a refinance, but we must receive your request call by 6 o'clock PST the day before your loan is due in order to process a refinance request. If you make no refinance request, and fail to pay the balance when due, your loan will be in default.

Subject to applicable state laws, Express Money Center as a member of CFSA, provide our members an Extended Payment Plan (.EPP.) for Members who are unable to repay a loan.
You [the customer] may opt into an EPP to pay an outstanding loan if you are unable to repay your loan when due. Any outstanding fee will be included in the amount subject to EPP. You must invoke the EPP by close of business on the last business day before the loan due date by Express Money Center at customerservice@expressmoneycenter.com. To invoke the EPP, you must sign an amendment to your loan agreement reflecting the new payment schedule.

You may pay the transaction balance in four equal payments coinciding with your periodic pay dates. We will not begin collection activities while you are under an EPP as long as you meet all obligations under the EPP. There is no charge for you to enter into an EPP. However, if you default on an EPP, we may charge you an EPP fee and accelerate payment on the balance remaining, as authorized by applicable law.

Can I refinance or rollover my loan? A refinance or rollover can be described as using the proceeds from a new loan to pay-off the balance of an existing loan. The ability to refinance a loan is contingent upon your state of residence. The number of times a loan can be refinanced also varies by state. Alabama allows one refinance of the original principal balance, while Arizona, Missouri, New Mexico, Oregon, Texas, and Utah permit up to three. At this time, refinances are not permitted in any other states. In order to qualify for a refinance, you must pay not only the finance charge due on your existing loan but you must also pay-down the principal of that loan by at least $25.

Can I have more than one loan at a time with Express Money Center? No. You can only have one loan outstanding with Express Money Center.

What is the cost of credit for a payday loan? Because Express Money Center believes in state licensed, responsible lending, the cost of a Express Money Center payday loan will depend on the state you live in. Check out our fee schedule for more information about paycheck loan fees and payment options.

Can I prepay my loan? Yes. In fact, we encourage you to make pre-payments on your current loan. A prepayment can be paid by Money order, Western Union or Money Gram in any amount you request. If you would like to schedule a prepayment, please contact one of our customer service representatives who will be happy to assist you in making those arrangements.

Unable to find the question you were looking for? Feel free to email us any time at:customerservice@expressmoneycenter.com.

*Based on state regulation, refinances are not available in all states.