Posted by Vincenzo
On September 14, 2023, I first reached out to Speedy Cash for the possibility of applying for a loan of $5,000 with them. What seemed to be a helpful and expedient process, soon proved to be something contrary. I've been with my bank for over 35 years and have never had any issues dealing with them, but that was about to change.
Speedy Cash asked me on at least two different occasions to change my user ID and password. This was the first of a few red flags I saw. A deposit of $999 was made to my account, so I thought this to be proof that the loan process was moving forward. They requested that I purchase four gift cards under the plan to build my credit. A HUGE RED FLAG!!!
Following this, I found on September 19th, my checking account had been frozen and put under restriction. My bank informed me that the bank Speedy Cash was using informed them that the check deposited in my account was fraudulent. I spent a good part of the morning of September 20th, at my bank's local branch, where they were able to resolve the problem and open a new account for me.
Previously, while the process was underway, Speedy Cash was calling 4 or 5 times daily. However, once their dealing was found out, I haven't heard a peep.
I'm not looking to malign the entire Speedy Cash organization, but the office based in Pittsburgh, PA, has definitely left a bad taste in my mouth and I wanted to help others by being forewarned about their practices. I was able to repair things with my bank, but this was a scenario I never needed to be part of. It's so very unfortunate how some people scheme to take advantage of others at their most vulnerable point. Regardless, I won't be recommending this company at all.