Complaint Review: 200cash.com

Hello this is Angela again,

I read the comments now let me explain something. I have been in the payday industry for many years. We are honest and up front. I am aware that each state differs in the way they must conduct business. I guess the general rule I forgot to follow in my deparate attempt to keep my lights on was. IF YOU HAVE TO PAY UPFRONT ANY KIND OF MONEY, TO GET MONEY. IT'S A SCAM. DON'T DO IT.

A better way of handling your processing fee woud be to deduct the fee from the cash YOU DEPOSIT into your customers account.

Let me say this again: YOUR COMPANY NEVER GAVE ME ANY MONEY, NOR DID I GET A DECLINE NOTICE, BUT YET IN STILL YOU DEDUCTED 44.00 DOLLARS FROM MY ACCOUNT, WHICH CAUSED SOME SERIOUS OVERDRAFTS. I AM NEGATIVE IN MY ACCOUNT BECAUSE OF THIS WITHDRAWL, BECAUSE I WAS NOT EXPECTING THAT AMOUNT TO COME OUT OF IT. NOW I OWE SEVERAL BOUNCED CHECKS FEES TO UTILITY COMPANIES, AND MY BANK. I AM A SINGLE PARENT TRYING TO MAKE ENDS MEET.. I RECENTLY TOOK UP A SECOND JOB TO CLEAR MY ACCOUNT.
AND JUST CAN'T SEEM TO GET AHEAD.
I WAS FORCED TO DO ANOTHER PAYDAY ADVANCE TO COVER THE BANK CHARGES SO THEY WOULD NOT CLOSE MY ACCOUNT.

YES. ONE DEBIT THAT YOU DON'T EXPECT TO HAPPEN CAN AND WILL CAUSE ALL OF THIS.

PAYDAY ADVANCES COULD BE BENEFICIAL IF USED CORRECTLY. AND JUST WISH THERE WERE MORE PEOPLE OUT THERE LIKE MYSELF WHO WORK FOR THESE TYPES OF COMPANIES, TO ACTUALLY HAVE A HEART AND TRY TO HELP THOSE WHO NEED HELP.

SOME COMPANIES HAVE GOTTEN SO GREEDY ALL THEY SEE IS MONEY. I SEE PEOPLE IN NEED AND GOD AS MY WITNESS I VOW NEVER TO PUT ANYONE IN DEBT OR CHEAT ANYONE FOR MY OWN MONETARY GAIN.

ANGELA

Don.

You have explained the $19. I exactly wouldn't call Verdana 4.5 large type. You should put it in bold large type saying "Now only $19 to apply!". Instead of hoping your customers won't see the $19. They will think they are getting a bargain. That never even crossed your mind did it? Of course not. Why would it? Think outside box Don.

I kid, but seriously. I could find no mention of $44 on your website. I found a $25 non sufficient funds fee. But Angela made no mention of that. Please explain this? Are you just going to keep taking money out of poor Angela's account?


Angela.

I'm sorry this happened to you. Payday loans are all bad news. They take your money if they reject you and they take far far more if you get the money. Either way you lose.

1. There is a notice for the application fee on the last page of the application process. It is in large text and in plain view. See here:

https://www.200cash.com/secure/new_check.asp

2. The courts understand that application fee means a fee to apply and, like other industries, is non-refundable and is used by the company to offset application and credit / employment verification. Payment of this fee has no bearing on whether or not the applicant is ultimately approved and funded. (Many of us remember paying an app fee for an apartment rental app for example. This fee is never refunded if they don't approve you)

3. The website allows the applicant to simply leave at any point and avoid the app fee charge.

4. The approval notice is conditional. The text says approved pending verification of your information. This allows them a chance to verify the information submitted before making the loan.

5. The approval (pending) notice comes AFTER pushing the submit button UNDER the app fee notice text, not before.

6. 200CASH.COM, INC. is licensed in the State of Delaware as a Small Loan Agency. License number: 2003102706. This can be confirmed by contacting the State of Delaware, Division of Revenue. (We are not a Bank or Financial Institution, we are a Small Loan Agency.)

7. The Declined notice says Declined for one or more of the following readons, not all