Services and Fees

SERVICES AND FEES

Cheque Cashing
2nd party cheques--$4.99 per item fee plus 2.9% of the face value of the cheque.1st party cheques-$9.99 per item fee plus 7.9% of the face value of the cheque.

Payday Advance
Interest charge is 1% per week. This is 59% per annum compounded rate which equals 89 cents per week per $100.00. There is a one time fee of 3.9% of the advance plus $12.95 per week service charge. The maximum amount advanced is 50% of the member’s net salary to a maximum of $500.00. Member must provide a post-dated cheque for the repayment amount including fees & interest, plus 1st party cheque cashing fees. Member must also sign a Letter of Direction.The member may elect to repay in cash on the due date of the loan &
obtain return of the cheque, or may elect the convenience option of
having Money World deposit the post-dated cheque on payday and
the Member will incur the cheque cashing fees.

Membership
Anyone who wishes to do business with Money World Ltd. Must become a member of Money World Ltd. Membership fee is $40.00 per year. Each member will be given a Photo ID card which will be good for 1 year.

Currency Exchange
Money World will exchange US & EC currency at favourable rates.
Sell $US-EC$2.80 plus 2% service charge. Buy $US---EC$2.60

Returned Item Fees
$40.00 charge on all dishonoured cheques returned to Money World