Florida-only money service business offering same-day cash advances up to $1,000 and check cashing with no credit checks, open 365 days a year.
Editorially reviewed by Harvey Brooks
Amscot Financial, founded by Ian MacKechnie and headquartered in Tampa, Florida, operates as a licensed Money Service Business under the Florida Office of Financial Regulation. The company brands itself as 'The Money Superstore' and has built a statewide network of physical branches serving Florida residents who need quick access to cash outside traditional banking. MacKechnie and his wife have demonstrated community commitment, including a $1 million donation to the American Red Cross for Hurricane Helene relief and an annual 'Just a Dollar' campaign that has raised over $159,000 for local schools.
Amscot's primary offerings are two forms of cash advances. Their Installment Cash Advance ranges from $100 to $1,000 and is repaid over time rather than in a single lump sum. Their traditional Cash Advance goes up to $500 (the maximum permitted under Florida law) and is repaid on the customer's next payday. The company also provides check cashing services. All products are marketed with no traditional credit checks, though Amscot does verify applicants against the Florida State database for outstanding cash advances before approving new ones.
What sets Amscot apart operationally is its 365-days-a-year availability and its physical branch presence, which appeals to customers who prefer in-person service or lack reliable internet access. The installment product is notable because it gives borrowers more flexibility than a standard payday loan — spreading repayments over multiple pay periods. Non-payment is also explicitly stated to not affect credit scores, which may matter to credit-sensitive borrowers, though it can restrict access to future advances through the Florida State database.
Amscot is a viable option for Florida residents who need emergency cash quickly and cannot or prefer not to use traditional credit. However, the website does not disclose APRs or fee structures on its homepage, which is a meaningful transparency gap. Not all applicants qualify for the maximum amounts — some may be limited to as little as $50. The service is geographically restricted to Florida, and as with all short-term cash advance products, costs are typically high relative to conventional lending options.
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Yes. Amscot - The Money Superstore is a registered company headquartered in 8312 N Dale Mabry Hwy, Tampa, FL 33614. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Amscot is best for Florida residents who need fast, small-dollar cash (up to $1,000) and cannot qualify for or access traditional credit products. The installment option makes it more flexible than a pure payday lender, but borrowers should visit a branch to understand full fee structures before committing, as costs are not disclosed online.
Diamond Banc Tampa offers collateral-based equity loans and outright purchases of fine jewelry, diamonds, and luxury watches — a premium alternative to traditional pawn shops.
Best for: Owners of high-value fine jewelry or luxury watches ($50,000+) who need fast short-term liquidity, Borrowers who cannot or prefer not to use their credit profile to qualify for a loan
ACCC is a non-profit credit counseling agency offering free consultations, debt management programs, and bankruptcy counseling to help consumers escape credit card debt.
Best for: Consumers with $6K–$100K+ in credit card debt who are still current or only slightly behind, Individuals legally required to complete bankruptcy counseling (pre- or post-filing)
Family-owned Florida pawn shop since 1986 buying, selling, and trading jewelry, guns, fishing equipment, tools, and electronics across two Tampa locations.
Best for: Individuals needing immediate cash by pawning or selling tangible assets, Gun owners and fishing enthusiasts seeking to buy, sell, or trade in their categories
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
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.
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.
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.
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.
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
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.
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
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.
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.
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.
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.
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.
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.'
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.
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
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.
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.
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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