Dollar Financial Group is a leading company for financial services that serves under-banked consumers by providing last recourse loans. Dollar Financial has a wide selection of financial products to meet the demands of its ever increasing clientele. These services include short term consumer loans, check cashing, Western Union money orders, transfers, and other family and small business services such as utility and bills payments, tax preparation services, and foreign currency exchanges.
Dollar Financial Group was established in 1979. Since then, it has owned more than 1,400 money or cash stores, including the 93 franchised operations. Dollar financial has reached 32 states in the United States. In the international scene, the company also operates in Canada, United Kingdom, and Ireland. The company has the second largest store network in the United States and the largest store networks in U.K. and Canada. Dollar Financial Group is a successful publicly traded stock in the New York Stock Exchange, reporting a positive profit outlook as of the fourth quarter of 2008.
The Dollar Financial Group owns several franchises, some of which are much known in neighborhoods. These franchises include Money Mart, Loan Mart, Money Corner, We the People, and American Payday Loans. The U.S. operations have more than 460 company owned stores on top of the 93 franchises.
Services of Dollar Financial Group
Dollar Financial has a wide range of financial services for the consumer. These services are offered to provide clients the most convenient, efficient, and effective home finance and small business tools. The services are also heavily oriented to individuals who cannot solely depend on banks and other institution for financing.
Payday Advance Loans
Dollar Financial Group lends unsecured and short term loans to clients who have an immediate need for cash. These short term loans are given out against the next paycheck of the borrower. Also called payday advances, this product allows customers quick access to loans that have an active checking account.
The requirements needed to qualify for Payday Advance loans are; duly verified employment, identification documents, and a checking account that is active for more than 60 days. The customer writes a check and turns it over to Dollar Financial. The group will hold the check until the balance of the loan is deposited. The check can either be reclaimed by paying the full amount of the loan, or the check may be deposited by the lender after the agreed loan term.
Prepaid Electronic Money Cards
Another financial product of the Dollar Financial Group is electronic prepaid cards. These electronic prepaid cards are offered with the cooperation of MasterCard in UK and Canada, and VISA in the U.S. These cards can be loaded with money so that it can act like a credit card. This card can be used at over 870,000 ATM machines worldwide. This card works like a credit card because you have quick access to your money, you can make faster purchases, and you can pay securely. The difference is everything is paid for already, so you will not get into credit card debt.
Pawn Loans
Dollar Financial Group operates pawn loans and brokering services in the UK. Pawn brokering allows the customer to take out a loan from one of Dollar Financial Group's franchises by surrendering an item for collateral and qualifying for a loan based on the appraised value of the item. A monthly interest is charged on the loan and the client can extend the loan, reclaim the item, or take the money and forfeit the claim on the collateral. Dollar Financial Group has a research department that assesses the value of the item so that a fair cash value can be given to the borrower.
Utility, Bill Payments and Other Services
Dollar Financial Group exchanges your foreign currency into local currency at competitive rates. You can also pay your monthly bills and arrears for utilities as well as other bills for subscribed services. Dollar Financial Group has built a strategic partnership with Western Union to allow you to transfer money safely and securely. Dollar Financial Group is part of Western Union's 300,000 branch network in more than 200 countries. Other products and services include electronic tax filing, money orders, tax preparation, and phone services.
Dollar Financial Group showed strong and resilient growth since 1979, catering to individuals, small business, and just about anyone who needs its services. You can visit their website at www.dfg.com or call their respective country headquarters from the numbers listed at www.dfg.com/contact.asp. For investor relation inquiries, email [email protected]