Checking: Interest rates charged by payday check stores as high as 1826% on a $100 loan

- advertisement -

Interest rates charged by payday check stores as high as 1826% on a $100 loan*
By Stephen Rothman • Bankrate.com

Store	State	Fee	7 day APR	14 day APR
Check X Change	OH	$13	678%	339%
Fast Cash	CA	$15	782%	391%
Ace Cash Express	FL	$22.58	666%	333%
E-Z Pay	MO	$15	782%	391%
E-Z Cash	PA	$15	782%	391%
A-Acme Ck Cash	CO	$20	1042%	521%
Check X-Change	WA	$15	782%	391%
Checkman	TX	$35	1826%	913%

* 1997 Consumer Federation of America survey.

-- Posted: February 17, 1998

See Also

•	Officials call payday financing "loan sharking"
•	Banking information
•	More checking stories

Checking and Savings

Compare today's rates

NATIONAL OVERNIGHT AVERAGES

Interest checking	0.58%
MMA	1.04%
$10K MMA	1.12%

	RELATED CALCULATORS
	How long will your savings last

	How to reach a savings goal -- with scheduled payments

	Watch your savings grow with regular deposits

VIEW ALL

BASICS SERIES

Checking Basics

Manage your account in a fee-friendly way.

•	What's the best checking account for me?

•	ABCs of ATMs
•	What are all these fees?
•	Is online banking secure?


	MORE ON BANKRATE

Banking glossary

Keep an eye on the leading rates

Find a high-yielding CD

ADVERTISING PARTNERS

- advertisement -

- advertisement -

Advertise with Bankrate

Investor Relations

Understanding Bankrate's rate averages

� 2009 Bankrate, Inc. All Rights Reserved.