Amscot Financial, Inc.

What Amscot Financial, Inc. does

Amscot Financial, Inc. (operating as 'The Money Superstore®') is a privately held retail financial services company headquartered in Tampa, Florida, founded in 1986 by Ian MacKechnie. The company operates a network of physical branch locations across Florida—open 365 days a year, with select branches operating 24 hours—serving underbanked and unbanked Florida residents who need quick access to cash, check cashing, and bill payment services without traditional credit checks. Amscot holds a license from the Florida Office of Financial Regulation and is registered with FinCEN as a Money Service Business.

The core product portfolio centers on two short-term credit products—a traditional Cash Advance of up to $500 repaid on the customer's next payday, and an Installment Cash Advance of $100 to $1,000 repaid over multiple installments—complemented by transaction services including check cashing, free money orders, and bill payment. The product set has been extended with two bank-account alternatives for the underbanked segment: the Azulos Plus Account (a checking-account alternative) and the Azulos Prepaid Mastercard. Underlying technology is a traditional retail financial services stack supporting in-branch cash and check operations, plus basic verification against a Florida State database for outstanding advances; no AI/ML capabilities are disclosed.

Amscot earns revenue primarily through transaction fees on cash advances, installment cash advances, check cashing, and bill payment, with card-related fees from the Azulos prepaid program as an additional stream. Distribution is exclusively through Florida branch locations and a toll-free customer care line; there is no online origination for core credit products. The company markets through TV commercials, social media, email (via Constant Contact), and community engagement programs, including a 'Just a Dollar' education campaign and a $1M founder donation to the American Red Cross following Hurricane Helene in 2024. Amscot is a member of the INFiN A Financial Services Alliance and signals ongoing interest in regional consolidation via a dedicated acquisitions page on its website.

Name

Amscot Financial, Inc.

Legal name

Amscot Corporation

Website

https://amscotfinancial.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Amscot Financial is a privately held Tampa, Florida-based retail financial services company operating branches statewide that provide cash advances (up to $500), installment cash advances ($100-$1,000), check cashing, bill payment, and Azulos banking-alternative products to underbanked Florida residents without credit checks.

Ownership category

akta.pro rank

Product category

Consumer Financial Services

NAICS

Credit Intermediation and Related Activities (522), Sales Financing (52222)

SIC

Personal Credit Institutions (6141), Finance Services (6199)

akta.pro primary industry

Cash Advance (Online & Storefront) (FSAKAMAC)

akta.pro secondary industries

Retail Credit (Closed-End) & Promotional Financing (0%/Deferred Interest) (FSAKAFAF), Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK)

Keywords

• Consumer cash advances
• Check cashing services
• Installment loan products
• Prepaid debit cards
• Alternative financial services

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Cash Advance Fees: Fees charged for providing cash advances up to $500, repaid on the customer's next payday.
2. Installment Cash Advance Fees: Fees for installment cash advances ranging from $100 to $1,000, repaid over time with scheduled installments.
3. Check Cashing Services: Fees for cashing checks for customers who may not have bank accounts.
4. Bill Payment Services: Fees for bill payment processing services.
5. Money Orders: Free money orders are offered as a service to customers, likely monetized through associated fees or as a customer retention mechanism.
6. Prepaid Card Programs: Revenue from Azulos Prepaid Mastercard and Azulos Plus Account programs through card-related fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Amscot Financial provides short-term consumer credit and transaction-based financial services through a network of physical branch locations across Florida. The core offerings include Cash Advances (up to $500, repaid on next payday), Installment Cash Advances ($100 to $1,000, repaid in installments over time), check cashing, bill payment, free money orders, and banking-alternative products (Azulos Plus Account and Azulos Prepaid Mastercard). All services are provided without credit checks, using Florida State Database verification instead, and target underbanked Florida residents who need immediate cash access.

Product overview

Amscot Financial is a retail financial services company operating a network of branch locations offering short-term consumer credit and transaction services. The core product portfolio centers on two cash advance products: a traditional payday-style Cash Advance (up to $500, repaid on next payday) and an Installment Cash Advance ($100-$1,000, repaid over time with no credit checks). These are complemented by transaction services including check cashing, free money orders, and bill payment. Amscot also offers two banking-alternative products—the Azulos Plus Account and Azulos Prepaid Mastercard—targeting underbanked consumers who may not qualify for traditional bank accounts. The company positions itself as 'The Money Superstore,' providing multiple financial services under one roof with extended hours (open 365 days a year).

Differentiator

Problem solved

Functional benefit

Brands

• Azulos Plus Account: A checking account alternative offered by Amscot
• Azulos Prepaid Mastercard

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor.

• American Red CrossminorGTM or Marketing Partner · 1 January 2024Amscot founder Ian MacKechnie and his wife Jean donated $1M to the American Red Cross to support Florida families rebuilding after Hurricane Helene. This represents corporate philanthropy and community engagement rather than a commercial partnership.
• INFiN A Financial Services AllianceminorOthersAmscot is a member of INFiN A Financial Services Alliance, an industry association for alternative financial services companies. This membership indicates participation in industry advocacy and best practice sharing.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• ACE Cash Express: ACE Cash Express operates a multi-state storefront network offering payday cash advances, installment loans, check cashing, and prepaid debit cards—directly comparable to Amscot's product mix and direct-to-consumer branch model.
• Check Into Cash: Check Into Cash runs a storefront and online network of payday advance, installment loan, and check cashing locations across multiple states, closely mirroring Amscot's core offerings and customer base of underbanked consumers.
• Advance America: Advance America is one of the largest U.S. storefront payday and installment lenders, with a multi-state branch footprint offering cash advances, installment loans, and check cashing—directly overlapping Amscot's product set and channel strategy.
• Speedy Cash: Speedy Cash operates a national storefront and online network providing payday loans, installment loans, title loans, and check cashing—comparable to Amscot in product breadth and small-dollar consumer credit focus.
• CashNetUSA: CashNetUSA is an online-only installment and payday loan provider serving cash-strapped consumers—comparable to Amscot's cash advance and installment products but distributed digitally rather than through physical branches.

Emerging players

• MoneyLion: MoneyLion is a digital finance platform offering Instacash advances, installment loans, and membership banking products targeting underbanked consumers—the same demographic Amscot serves, but via mobile app rather than physical branches.
• Dave: Dave provides small-dollar cash advances and budgeting tools via a mobile app with a subscription model, directly competing for Amscot's paycheck-to-paycheck customer segment through a low-friction digital experience.
• Earnin: Earnin offers no-fee earned wage access and cash tips via a mobile app, targeting hourly workers who would historically have been Amscot's payday cash advance customer base—representing a digital channel substitute for Amscot's core product.

Broad incumbents

• Western Union: Western Union operates a global money order, money transfer, and bill payment network through agent locations—a broad incumbent in adjacent transaction services that overlaps with Amscot's bill payment and money order lines.
• MoneyGram: MoneyGram provides money orders, money transfers, and bill payment services through thousands of retail agent locations—comparable to Amscot's money order and bill pay services, though without the consumer lending products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/AmscotFinancial
• Facebookfacebook.com/171761012851367
• Instagraminstagram.com/amscotfinancial
• Xx.com/amscot
• LinkedInlinkedin.com/company/amscotfinancial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amscot Financial, Inc.