What to Know About Money Store Locations in South Carolina

Money Store operates as a short-term lending business, not a traditional pawn shop

Money Store is a chain that lends cash based on personal checks, bank account access, or other collateral—but it does not buy or sell used goods the way a pawn shop does. You bring proof of income and a valid ID, and the lender gives you cash on the spot. You repay the loan plus interest and fees within a set timeframe, typically two weeks to a month. If you cannot repay, the lender keeps the collateral or pursues collection.

South Carolina has Money Store locations in several cities, though the chain's presence varies by region. The business model differs sharply from pawn shops: instead of trading items for cash, you are borrowing against your next paycheck or bank account. This means the transaction is faster—often completed in under an hour—but the cost of borrowing is typically higher than a pawn shop loan, and the repayment window is shorter.

Key Takeaways

• Money Store lends cash based on your income and bank account, not items you own, so the process is quicker than a pawn shop but the fees are often steeper.
• You will need a valid government ID, proof of income (pay stub or bank statement), and an active checking account to borrow.
• Repayment periods are typically two to four weeks, and failing to repay can result in overdraft fees, collection action, or both.
• Interest rates and fees vary by state and loan size; South Carolina law sets limits on what lenders can charge, so compare terms before you commit.

How Money Store loans work in practice

You walk in with your ID, a recent pay stub or bank statement, and your checking account information. The lender verifies your income and access to funds, then offers you a loan amount—usually $300 to $1,500, depending on your income and the lender's policy. You sign paperwork authorizing the lender to withdraw repayment from your bank account on a set date, typically your next payday.

The cash is handed over immediately. On the due date, the lender withdraws the loan amount plus fees and interest from your account automatically. If the funds are not there, you face overdraft fees from your bank on top of the lender's fees. Some borrowers roll over the loan—paying only the fees and extending the due date—which compounds the cost quickly.

Costs and fees you will encounter

Money Store charges a fee for each loan, separate from interest. A typical $300 loan might cost $45 to $75 in fees alone, depending on the lender and the loan term. Interest rates in South Carolina are capped by state law, but the exact rate depends on the loan amount and length. A two-week loan costs more per day than a four-week loan, so longer terms can look cheaper even though you pay interest for twice as long.

If you roll over the loan—paying only the fee to extend it—you pay the fee again without reducing what you owe. A $300 loan rolled over three times can cost $150 to $225 in fees alone, with the original $300 still owed. This is why short-term lenders are often called predatory: the structure makes it easy to borrow small amounts and end up paying far more than you expected.

South Carolina's rules for short-term lenders

South Carolina regulates check cashers and short-term lenders through the Department of Consumer Affairs. Lenders must be licensed, and they cannot charge more than the law allows. The state caps fees and interest rates, though the exact limits depend on the loan amount and term. You can contact the Department of Consumer Affairs if you believe a lender has overcharged you or violated state law.

The state also requires lenders to disclose the total cost of the loan—fees plus interest—before you sign. This disclosure must be in writing and must show the annual percentage rate (APR), which makes it easier to compare Money Store to other lenders. If the disclosure is missing or unclear, that is a red flag.

Alternatives to Money Store loans

If you need cash quickly, a pawn shop may be cheaper than Money Store if you have items to pledge. Pawn loans do not require proof of income, and you keep your bank account private. Credit unions often offer small personal loans at lower rates than Money Store, though approval takes longer. Some employers offer paycheck advances or emergency loans to employees at no cost.

If you are in a financial crisis, 211 South Carolina can connect you to emergency assistance programs, food banks, and utility payment help that do not require repayment. Local nonprofits and churches also offer emergency grants and loans. These routes take longer but cost nothing and do not trap you in a debt cycle.

What happens if you cannot repay

If your account does not have enough money on the due date, the lender's withdrawal fails and your bank charges you an overdraft fee—usually $25 to $35. The lender then tries to collect the debt, either by calling you or by selling the debt to a collection agency. A collection account damages your credit score and can stay on your report for seven years.

In rare cases, a lender may pursue legal action, though this is uncommon for small loans. More often, the debt is sold to a collector who contacts you repeatedly. If you cannot repay, contact the lender immediately to discuss a payment plan or rollover option before the due date. Waiting until after the due date limits your options.

Finding Money Store locations in South Carolina

Money Store has locations in Charleston, Columbia, Greenville, and several smaller cities across the state. You can search the company's website or call ahead to confirm hours and whether a location is still open—store locations change. Some locations are in strip malls or downtown areas; others are in neighborhoods with limited public transit, so plan your trip accordingly.

Before you visit, gather your ID, a recent pay stub or bank statement, and your checking account number. Bring a list of questions about fees, interest rates, and rollover policies. Different locations may quote different rates, so calling two or three stores before you go can save you money.

Frequently Asked Questions

Can I get a Money Store loan without a checking account?

Most Money Store locations require an active checking account because they withdraw repayment automatically. Some lenders accept prepaid debit cards or savings accounts, but this is less common. Call ahead to ask whether your account type is accepted.

What if I need more time to repay?

You can ask the lender about a rollover or payment plan before the due date. A rollover extends the due date but costs another fee. A payment plan may allow you to split repayment into smaller amounts over several weeks. Both options cost more than repaying on time, so ask for the total cost before you agree.

How does Money Store affect my credit score?

Money Store does not report on-time payments to credit bureaus, so repaying on time does not help your credit. However, if you default and the debt goes to a collection agency, that collection account will appear on your credit report and lower your score.

Is Money Store the same as a payday loan?

Money Store and payday lenders are similar—both lend small amounts for short terms at high cost. The main difference is the collateral: payday lenders use your check or bank account authorization, while Money Store may also accept other collateral. Both are regulated by South Carolina and both carry high fees.

What should I do if a Money Store lender breaks the law?

Contact the South Carolina Department of Consumer Affairs with details of the violation—overcharging, missing disclosures, or harassment. You can also file a complaint with the Consumer Financial Protection Bureau online. Keep copies of all paperwork and records of calls or visits.