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Christine Tait

Last updated: 8/2019

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Emergencies are like unseasonal showers – you never know when they can catch you unawared and unprepared. They stress the finances of an individual and disrupt their short and medium-term cash-flow.

In particular, the blue-collar and vocational workers feel the pinch of an emergency more acutely. They often have unstable incomes and a bad credit score, and are rejected for loans by banks and other financial institutions.

Check N Go Personal Loan Reviews

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Who is Check ‘n Go?

Check ‘n Go is an online and physical cash loan provider. It operates through its lending portal and 1000+ stores across the US. It is one of the leading names in instant short-term loans business. In terms of business volume, Check ‘n Go is one of the biggest operators in the US, with a wide range of innovative and quick-solution financial services.

Established in 1994, Check ‘n Go has steadily built its customer base across many states. It is known for its prompt and efficient loan processing procedure which takes only a few minutes to complete.

The company is mainly active in payday and instalment loan segments, but its physical stores also offer other financial services. Check ‘n Go boasts of having completed over 50 million transactions that have helped needy people get instant loan approval and easy access to cash.

The company offers its online credit services in Alabama, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Maine, Michigan, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Texas, Utah, Wisconsin, and Wyoming.

Check ‘n Go’s network of physical stores is spread in Alabama, California, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Mexico, Ohio, Oklahoma, Rhode Island, Tennessee, Texas, Utah, Wisconsin, and Wyoming, from where it provides a host of financial services apart from cash loans.

Check ‘n Go is not only about size and volume. It is a company firmly rooted in best business practices and ‘customer-first’ philosophy. It claims to be committed to consumer rights and safe lending practices, and is one of the founding members of the Community Financial Services Association which it helped establish in 1999.

Check ‘n Go Operations

Check ‘n Go has a quick-response loan processing system at its stores and online portal. The customer can have their loan processed within minutes with a 3-step procedure:

  • Loan application: This process can be completed swiftly, without the need to fax documents if the applicant qualifies for it.
  • Loan processing and approval: Based on various pre-set judgment parameters, the Cash ‘n Go executive decide to approve or reject a loan application within minutes.
  • Loan disbursal: If the loan is approved, cash is deposited in the applicant’s account the very next day.

The company claims that it has one of the most sophisticated, technologically robust and user-friendly online interface in the industry.

Secure, Encrypted Data Sharing

Check ‘n Go has an encrypted data sharing online protocol. Due to this advance technology, all the personal information that a customer shares on the Check ‘n Go website while filling out the loan application is converted into codes to prevent unauthorized access. Hence, the information remains safe and secure.

The Check ‘n Go privacy policy, which is marked by transparency and user rights protection, also vows to protect the personal data of consumers. The company is committed not to use it for any other purpose than for loan processing and future correspondence.

Furthermore, Check ‘n Go also promises not to share this sensitive data with any third party. Consumers can confidently share their SS number, bank details, financial documents, and other confidential data without the fear of its misuse or abuse.

Check ‘n Go Loan Services

The company is a multi-service cash loan provider. Its lending products include payday loans, installment loans and prepaid debit card. However, these services vary from state to state. One needs to check about it on the company’s website.

Payday Loans

Payday loans are typically short-duration cash advances that are repayable within a month, usually on the next payday of the borrower. The purpose of this loan varies – it may be for paying overdue utility bills, to meet an unforeseen emergency in the family, or even to celebrate an anniversary.

Check ‘n Go has a dedicated team specializing in payday loan assessment and approval. It is trained to respect the emergency cash needs of distressed individuals and have a sympathetic and considerate approach towards loan requests.

Instalment Loans

These loans can be best understood as the older sibling of payday loans. They allow a larger borrowing with a longer repayment tenure. The repayment is not done in a lump sum as in a payday loan, but is spread over convenient instalments.

Check ‘n Go has an excellent track record of catering to the demand of installment loans. Its customers are evenly spread across the country in this line of business. The company processes installment loans online and at its stores.

Prepaid Debit Card

This instant cash instrument by Check ‘n Go is an excellent way to access cash without going through a loan sanction procedure. The prepaid debit cards issued by Check ‘n Go are linked to the customer’s loan account with the company.

This account holds preloaded cash that is sanctioned as loan to the account holder. Whenever a borrower needs instant cash, they can use this card with the same convenience that other cards offer.

This value-added service by Check ‘n Go enhances its service offerings while giving one more option to customers to access fast cash.

Cost of Borrowing

The company operates at a national level. It fully abides by the incumbent state and national laws.

Since different states have different laws and regulations, the Check ‘n Go charges including interest, rollover fees, collection charges, and other charges vary from state to state. It is advisable to check these rates on the company’s website before applying for a loan. Rates always matter even in the age of lower taxes and a strong economy.

Loan Eligibility Criteria

Check ‘n Go has a friendly and sympathetic outlook towards people’s special situation needs. In order to make the loan application process simple and easy, the company has set minimum eligibility criteria. The loan applicant must be:

  • A US citizen or permanent resident
  • Be of at least 18 years of age
  • Have a source of regular income
  • Have an active bank account

The applicant has to provide basic individual information while applying for a Check ‘n Go loan:

  • Full name and legitimate contact details
  • A valid form of ID
  • Proof of income
  • Checking account details

Borrowers are advised that Check ‘n Go payday loans are not available in Arizona, Alaska, Arkansas, Colorado, Connecticut, Georgia, Louisiana, Maryland, Massachusetts (which is not doing well economically because of high taxes but this is another topic), Minnesota, Montana, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Vermont, Virginia, Washington, and West Virginia.

A Word of Caution

It is an acknowledged fact that private lenders of short-term, small dollar loans charge heavy interest and other charges for their lending and services. This is due to various factors; prime among them are:

Unsecured nature of loan: The lenders in this business provide instant loans which are like unsecured cash advances. This type of lending carries an inherent risk of default. Hence, the steep interest rates are partly intended to hedge this risk.

  • Faceless transactions: With a bulk of small-loan business migrating to the online channel, the possibility of the lender personally meeting the borrower and intuitively gauging their repayment capacity and willingness has diminished significantly. The absence of a human interface in the loan processing lifecycle leaves room for an error of judgment. The high interest helps in covering the default cost of an online loan, should it happen.
  • No collateral: small dollar lenders do not ask for a collateral. Be it a payday loan, instalment loan, or a prepaid debit card, they are all availed without a security. In the case of a default, the interest compensates for the capital of the loan.
  • Poor credit rating: Finally, the blue-collar borrowers unfortunately do not enjoy a high credit score. This accounts for a greater risk in lending money. The interest again acts as a hedge.

Considering these factors, the interest structure of the lenders is steep. People frequently fail to meet their interest obligation, leave aside repayment of capital amount.

Hence, these loans must be the last resort for borrowers, meant exclusively for short-term arrangement of unmet financial commitments. Typically, they should not exceed a few weeks of borrowing tenure, or else the interest burden will escalate rapidly.

That said, Check ‘n Go enjoys a reputation of transparent functioning and fair play. They have their fee and interest structure on their website, under the ‘Terms’ section. Borrowers must refer to it before asking for a loan.

Small Dollar Demand Is Consistent – What Do Facts and Figures Convey?

In US, the need for short-term, marginal cash advances grew rapidly during the recession of 2008 and thereafter. The country was in the grip of severe cash crunch that cascaded from the top to the base of the economic pyramid.

The fall of Lehman Brothers is a tragic reminder of how severe the recession was. The recession also disrupted the income patterns at the individual level. The Department of Labor notes that between February 2008 and February 2010, as many as 8.7 million jobs were lost. This amounts to almost 7% job loss. The country’s GDP shrunk by a significant 4.2% between the fourth quarter of fiscal 2007 and second quarter of fiscal 2009.

Thus, the gap between demand and supply of cash widened. Cash liquidity became a dire issue at the retail level, where common Americans found it increasingly difficult to meet their regular financial commitments.

The short-term, small dollar lending business came of age in the backdrop of these circumstances. The country’s personal loan industry emerged as the proverbial David against the might of Goliath, the economic recession.

This industry flourished in the aftermath of the recession, and has kept up its momentum since then. The size of small dollar borrowing in 2017 was $40 billion. Approximately one in 50 American households depended on payday loans and other such instruments to bridge the gap in their monetary needs. This translates to almost 2.5 million households that borrowed short-term, with a typical loan size of $350.

Interestingly, this borrowing pattern has transformed into an alternate financing model from its purely need-based original avatar.

America’s Major Borrowers

The country’s personal borrowing statistics has some interesting cohorts. In terms of volume, the borrowing pattern is as below:

  • 31% of the total personal borrowing is for vehicle finance
  • 26% is for payment of overdue bills and other unmet commitments
  • 21% of personal loans were availed by the blue-collar mass to meet emergency and unforeseen monetary needs
  • 19% of the borrowers were students, whose borrowing is attributed to tuition and study needs
  • Lastly, 15% borrowed to consolidate their debt

From this, we deduct that America’s personal borrowing is largely need-based, a trend that continues from the days of the recession.

Gender-Wise Borrowing Pattern

36% of adult men in the US borrowed for short-term needs. It was closely followed by 31% of American women who resorted to personal loans for limited time.

It implies that men and women borrow almost equally in the country.

Demographic Context

In terms of generations, the Gen X borrowed the most in the US, with an average personal loan size of $8,592.

This is the 45-50 age group, whose need for fast cash can be attributed to advancing age-related requirements.

Couples Borrowed the Most

The married and domestic partners including live-in student partners and working professionals are the ones who borrowed the maximum, with an average loan ticket of $8,592.

The obvious deduction is that domestic and social responsibilities draw Americans to alternate short-term borrowing sources such as a payday or instalment loan.

Private Lenders Are Here to Stay

In summary, it can be said that the demand-supply gap of liquid cash is here to stay in the US, and so are the private lenders who bridge this gap.

Consumer Reputation

Personal loans are an important matter. That’s why we want you to have as many facts as possible to make a decision about your personal loan. Check ‘n Go is covered on some of the best review sites on the net. We’ll look at three of those sites, the BBB, Yelp, and Consumer Affairs.

Better Business Bureau

The company has an A+ rating from the BBB. There are 6 total customer reviews. One of those reviews is neutral. The other 5 are negative. That’s a pretty good ratio for a personal loan company. Most people don’t take the time to write good BBB reviews of their lenders.

The company has 179 consumer complaints. The customer reviews and complaints give Check ‘n Go a score of 3.79 stars out of 5. The negative reviews focus on customer service issues. For many of these reviews, it’s clear that the customer had an issue with a particular worker or Check ‘n Go location.

Yelp

Like any business with multiple locations, Yelp organizes its customer reviews according to the individual locations. That means you should look up the location nearest to you to get the most accurate information about the company as an option.

That being said, most of the reviews for Check ‘n Go are pretty bad. The majority of locations sport a 1 or 2-star review. Most of the complaints on Yelp focus on customer service issues. However, several reviews also complain about the length of time the process took. That means you might want to look elsewhere if you’re in need of money now.

Consumer Affairs

Consumer Affairs gives Check ‘n Go 1.3 stars out of 5. This score is based on 167 votes. Most of the complaints with the site center around the long time-frame for approval and loan disbursement. Many customers complained that the company wanted them to submit the same documents over and over again.

Other complaints focus on the company approving someone for a loan and the rescinding their approval. That’s a bad sign if you need a personal loan. After all, once you’re approved, you stop looking for a loan. If the company later denies a loan you thought was approved, then you’ve lost valuable time that you could have used to find the loan you need.

Conclusion

Check ‘n Go, with its clean image and a perception of being a borrower-friendly lender, will thrive in the coming years. It may be that the company will innovate and adopt new business models, but its core philosophy will remain unchanged – not just to lend, but to lend a helping hand.

FAQ

Using Check N Go Services

Check N Go is available across several states, and it is a popular lending service that continues to grow even to this day. Some people may not be aware of how Check N Go works and what is required to use their services or receive their loans. Check out the questions we’ve answered below about using Check N Go.

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When does Check N Go deposit money?

If your application is approved after 8pm ET, then Check N Go will use the next business day to process your loan. Your funds will be transferred electronically and available in your account the business day after that.

How much does Check N Go charge?

For check cashing services, Check N Go charges up to 3 percent of your check. Rates and minimum fees vary based on your location, which is why you should check with your local Check N Go location for the specific amount.

How long does Check N Go take to verify?

How long it takes to verify your application depends on how quickly you submit your information. The sooner you submit the appropriate documents, the sooner Check N Go can verify you.

Does Check N Go cash third party checks?

Yes, Check N Go does provide consumers with the ability to cash their checks from third parties. Check N GO hours are longer than traditional bank hours, which gives you more time to cash your check.

How does Check N Go loans work?

Check N Go is a payday loan that provides you with funds in the event of an emergency. If you need cash quickly, Check N GO can give you one, if you have a high enough credit score.

Is Check N Go legit?

Check N Go is a legitimate loan service. Check N Go is a payday lender, which means that while the loan service does provide you with the funds you need, you will have to deal with relatively high interest rates.

Does Check N Go cash money orders?

Check N Go does not cash money orders. The service does allow you to get a money order for the cost of 99 cents or less. Check N Go does allow you to cash checks.

How does Check N Go installment loan work?

Installment loans are a short-term solution to a financial problem you may have. These loans are given to you, usually covering a limited amount, which you then pay off over a predetermined period, along with interest.

How does Check N Go verify checks?

Check N Go verify the funds on a check through a third-party service, which in most cases is Certegy. To find out the third-party service that your specific Check N Go uses, talk to a representative from that location.

Is Check N Go open today?

Check N Go is open Monday – Saturday at most of its locations. In order to find out if it is open where you’re located, check out the store hours for your local Check N Go.

Is Check N Go safe?

Check N Go is a safe and legitimate service offered in many states. As a payday lender, Check N Go is safe, but it is recommended to only be used in emergencies where you’re sure you can pay off the loan with interest.

What is Check N Go?

Check N Go is a payday lender and service that provides consumers with installment loans. In addition to this, Check N Go stores also provide check cashing and other services often found in financial institutions.

What is the interest rate for Check N Go?

Check N Go loan fees range anywhere from $25 to well over $100. These loans are only supposed to serve as a short term of credit, but the APR range anywhere from 456.25% to 1520.83%.

Where is the nearest Check N Go?

Check N Go locations are within several states all over the country. If you want to find your nearest Check N Go location, you can do so through their website.

Do you have to have check for Check N Go?

You do need a checking account for Check N Go. If you are seeking out services, you will need proof of income, photo ID, active checking account number, and phone number to receive a loan. These are the minimum requirements.

Does Check N Go accept starter checks?

Check N Go is a service that performs cash checking. If you want to find out if Check N Go does accept your starter check, visit your local store or call a representative.

Does Check N Go build credit?

Check N Go does not actively build your history, but they do provide helpful information on ways you can build your credit. If you do default on your loan, it will negatively impact your credit score.

Does Check N Go cash bank drafts?

Check N Go is a service that provides you with the ability to cash checks if you don’t want to go to the bank. While there is nothing that states Check N Go doesn’t cash bank drafts, you should check with your local store to find out.

Does Check N Go cash two party checks?

There is nothing currently listed that says Check N Go allows you to cash two-party checks. In order to be sure, contact your local Check N Go store and find out if it performs the service.

Does Check N Go do title loans?

Check N Go is a payday lender and it does not currently offer title loans. The lender does offer cash advances, payday loans, installments, and many other services for people in need of funds.

Does Check N Go lend to poor credit?

Check N Go requires people to have a minimum credit score of 500 to be eligible for a loan with them. The service uses Experian to check an applicant’s credit score.

How do you get denied by Check N Go?

There are various requirements that you must meet to be eligible for a Check N Go loan. Some of the reasons you may be denied include a low credit score, not having a checking account, or not having an appropriate proof of income.

How Check N Go Works

Check N Go provides several services to consumers, which includes check cashing and payday loans. In order to perform these services, Check N Go sometimes works with third-party companies or perform other actions. Take a look at the answers we’ve provided on how Check N Go provides some of the services it offers.

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Can Check N Go garnish wages?

Check N GO, and any other payday lender can garnish your wages. They can only do so if a court determines it after you’ve gone a significant amount of time without paying your loan.

Does Check N Go check credit?

Yes, Check N Go does receive credit information from Experian, which is one of the largest credit rating providers. You must have a minimum credit score of 500 to qualify for the loan.

Does Check N Go deposit on Saturday?

Check N Go does not deposit on Saturday. While they are open on Saturdays, information isn’t processed on this day. Any loans approved on the weekends will have a business date of Monday and will appear in the approved person’s account on Tuesday. 

Can Check N Go take me to court?

Technically, you can be sued if you don’t pay off your loan. In many cases, payday lenders like Check N Go transfer the loan to debt collectors who will continue to contact you in order to pay off the debt.

Does Check N Go cash personal checks?

Yes, Check N Go does allow you cash personal checks and circumvent banks. Check Cashing rates change by state. Check with your local Check N Go location for more information.

Does Check N Go run your credit?

Yes, while some payday lenders may not check your credit, Check N Go does obtain your credit information from Experian. The lender requires you to have a minimum FICO score of 500 to qualify for a loan.

Can Check N Go file criminal charges?

No, Check N Go will not file criminal charges. If your account is past due, then you will still have to be responsible for the fees you incurred, which includes late and returned check fees.

Does Check N Go call your employer?

Check N Go may call your employer to verify your employment. These calls are confidential, and they won’t reveal why they are calling. You can find out more about the specific process by talking to a Check N Go associate at a store near you.

Does Check N Go report to credit bureaus?

Check N Go does reach out to credit bureaus when determining if you’re eligible for a loan. If you default on your loan payments, it will end up on your credit report until it is properly handled.

Does Check N Go use Certegy?

Certegy is a platform that is used to verify funds before accepting a check. While it may not be for all locations, Check N Go does use Certegy for cash checking in many of its stores.

Does Check N Go use Teletrack?

Yes, Check N Go does report to Teletrack. More specifically, Check N GO uses Teletrack in instances where they need to check on the performance of your loan, such as whether you’ve defaulted on it.

Who is Check N Go affiliated with?

There is no set list of who Check N Go is affiliated with, but the service does use third-party services to help with the check cashing and lending services that they provide.

Who owns Check N Go?

Check N Go was formerly owned and operated by David Davis. After a situation involving his father, David Davis no longer ran Check N Go, and the service is now owned by his brother. 

Are Speedy Cash and Check N Go related?

Speedy Cash is not related to Check N Go, but the service is similar because Check N Go provides quick financial solutions to those who are in an emergency and need cash soon.

Does Check N Go work with red cedar associates?

Check N Go is a lending service, but there is nothing that specifically states Check N Go works with Red Cedar Associates. Check N Go does work with various third-party companies, which Red Cedar Associates could be a part of.

How does Check N Go make money?

Like many payday lenders, Check N Go makes its money by extending loans to people and then having people repay those loans, along with the interest that comes with receiving it.

How long Check N Go keep your info?

Check N Go does keep the information you give them, at least throughout the duration of your loan. Check N Go uses industry-standard encryption to keep your personal information safe.

Making Payments

Check N Go offers several ways for borrowers to make payments on their loans. There are also consequences to not making your payments on time. Below we’ve provided some important answers to questions regarding paying off your loan with Check N Go.

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What happens when I default on Check N Go loan?

If you default on your Check N Go loan, then Check N GO may transfer your loan to a third-party debt collector, who will pursue you for payment on the full loan, along with the additional interest rates.

How to pay Check N Go online?

If you want to pay your Check N Go loan, you must call them at 1-800-723-7022 and ask their customer service representative to set up an ACH payment. Other methods of paying Check N Go includes going to a local store or paying by phone.

Can I mobile deposit with Check N Go?

You cannot make mobile deposits with Check N Go. However, you can use your phone to call Check N Go and make deposits through their phone service or set up automatic payments through your account.

Can I skip an installment loan with Check N Go?

If you skip an installment loan with Check N Go, you will have to pay it off later. If you go 30 days without payment on your installment loan, your remaining balance will go into default and get sent to collections.

Can you change your payment date with Check N Go?

You do have options to renew, rollover, and refinance your loan. The number of times you can refinance varies based on the state you’re in. To find out if you can change your payment date, contact a Check N Go representative.

Does Check N Go offer payment plans?

For installment loans, Check N Go does offer payment plans where borrowers can pay off the loan over an extended period. These plans set the payments at a specific price and time.

Does Check N Go refinance?

Yes, Check N Go does allow you to apply for additional financing so you can extend the amount of time you have to repay your loan. The amount of times you can refinance your loan varies from state to state, and it isn’t available everywhere.

How much can you borrow from Check N Go?

There is a range of funds Check N Go lends to its borrowers. The amount you can borrow depends on your income and current credit score. There may be other factors that impact how much you can borrow as well.

How often can you borrow from Check N Go?

You can get a payday loan from Check N Go whenever you need it. There may be things that keep you from borrowing, such as having a loan out already or having a low credit score.

How to delete Check N Go account?

You can delete your Check N Go account by talking to a representative or going to the shop in person. You may not be able to delete your account if your loan hasn’t been paid in full though.

How does Check N Go repayment plan work?

Check N Go repayment plans tend to work with you paying off a portion of the loan at select intervals until the loan is paid off completely. Depending on your payment method, you will have to pay a convenience fee as well.


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Christine has a solid background in personal finance as she spent the last eight years working at one of the biggest banks in the US. She managed her own team of financial advisors that helped hundreds of people with their financing needs. Her innate understanding of different financial products and loans helped her move up the ranks quickly after graduating with a degree in Business Administration.