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Ace Check Cashing in Detroit, MI
ACE Cash Express offers payday loans, title loans, check cashing, and installment loans at 750+ locations nationwide since 1968, with same-day funding available.
Data compiled from public sources · Rating from CreditDoc methodology
Ace Check Cashing Review
ACE Cash Express has operated since 1968, establishing itself as a national provider of short-term financial services with over 750 locations across the United States. The company serves consumers who need immediate access to cash and lack traditional banking alternatives. Their physical store presence in 23 states plus DC provides customers with in-person service options alongside their online platform.
ACE's service portfolio includes payday loans, title loans, installment loans, check cashing, prepaid cards, tax services, MoneyGram/money transfers, and ATM access. Both their physical locations and online platform offer the same core services, allowing customers to choose their preferred method of application and service delivery. This dual-channel approach aims to maximize accessibility for their target market.
ACE's primary distinction is their extensive physical footprint with 750+ locations, providing in-person service that online-only competitors cannot match. Their longevity since 1968 positions them as an established player in the alternative finance space. The integration of check cashing, money transfers, and tax services alongside lending creates a one-stop financial services destination.
However, ACE operates in the high-cost lending sector where payday and title loans typically carry triple-digit APRs. While the website does not disclose specific APR, terms, or fees, these products are inherently expensive relative to traditional credit. The company's reliance on short-term loan products rather than credit-building alternatives means customers may not improve their financial position long-term. Service disruptions (as noted with Hurricane Ida closures) can affect accessibility in affected regions.
Services & Features
ATM services
Bill payment services
Check cashing
In-store loan applications
Installment loans
MoneyGram money transfers
Online loan applications
Payday loans
Prepaid cards
Tax services
Title loans
Feature Checklist
Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection
Pros & Cons
Pros
- 750+ physical locations nationwide providing in-person service and immediate access to funds
- Operating since 1968 with established brand recognition and longevity in alternative finance
- Multiple financial services in one location: check cashing, money transfers (MoneyGram), tax services, ATMs, and lending
- Dual-channel access with both physical stores and online platforms offering identical services
- Same-day or next-day funding available for emergency cash needs
- Multi-state presence across 23 states plus District of Columbia
- Dedicated customer service phone and email support for general and online loan inquiries
Cons
- Website does not disclose APR, fees, or loan terms, making cost comparison impossible before visiting a store
- Payday and title loans are inherently high-cost products that can create debt cycles
- No mention of credit-building features or financial counseling to help customers improve long-term financial health
- Physical locations subject to service disruptions (example: Hurricane Ida temporary closures noted on homepage)
- Focuses on short-term emergency loans rather than sustainable financial solutions
Rating Breakdown
Value 2.0
Effectiveness 1.5
Customer Service 2.5
Transparency 2.3
Ease of Use 3.9
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Frequently Asked Questions
Is Ace Check Cashing legitimate?
Yes. Ace Check Cashing is a registered company, headquartered in 20011 Plymouth Rd, Detroit, MI 48228.
Quick Facts
- Headquarters
- 20011 Plymouth Rd, Detroit, MI 48228
- BBB Accredited
- No
- Starting Price
- Contact provider
- Setup Fee
- None
- Money-Back Guarantee
- No
CreditDoc Diagnosis
Doctor's Verdict on Ace Check Cashing
ACE Cash Express is best for borrowers in immediate financial crisis who need same-day cash and prefer the security of established in-person locations. The primary caveat is that payday and title loans are expensive products that typically carry APRs exceeding 200%, and using them may worsen financial situations rather than resolve underlying cash flow problems—the website provides no transparency on actual costs.
Best For
- Consumers needing immediate cash for emergencies with no access to traditional bank loans
- Those who prefer in-person service and relationship-based lending over fully automated online loans
- Individuals requiring ancillary services like check cashing, money transfers, or tax preparation at one location
- Borrowers in states with 750+ store locations who value convenience and speed over cost
Updated 2026-04-29
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Financial Wellness Guides
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Read guide →Financial Terms Explained (10 terms)
New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
Interest & Rates
APR — Annual Percentage Rate
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Why it matters
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Compound Interest
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Why it matters
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
MAPR — Military Annual Percentage Rate
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
Why it matters
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
Usury Rate — Usury Rate (Interest Rate Cap)
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Why it matters
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
How Loans Work
Collateral — Loan Collateral
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Why it matters
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
Fees & Costs
Late Fee — Late Payment Fee
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
Why it matters
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
NSF Fee — Non-Sufficient Funds Fee
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
Why it matters
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
Legal Terms
Usury — Usury (Illegal Interest)
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
Why it matters
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Credit Cards
Cash Advance — Credit Card Cash Advance
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Why it matters
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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