From 500 branches to a website
The Money Shop was a high-street brand. It had stores you walked into, a presence on UK town centres for the better part of three decades, and a customer base that came in through the door rather than through a search engine. The current operator under the same name has none of that. It is a website that introduces applicants to a panel of third-party lenders, with no branches, no in-person service and no continuity of ownership with what came before.
The original high-street lender
- Operator Instant Cash Loans Limited (ICL)
- Type High-street direct lender
- Sister brands PaydayUK, Payday Express
- Peak branches 500+
- Stopped lending August 2018
- Final dividend 4.31p in £ (Scheme)
The current credit broker
- Operator New Horizons Finance Ltd
- Type Credit broker, AR of Flux Funding
- FCA reference 806333 (Flux Funding)
- Loan range £100 to £5,000
- Term 3 to 36 months
- Connection to original None
Key facts
Both entities and the transition between them. All numbers were verified against regulatory filings and the FCA register on 28 April 2026.
The Money Shop, PaydayUK and Payday Express all operated under the same parent, Instant Cash Loans Limited (ICL). All three brands were dealt with through the same Scheme of Arrangement, court-approved on 8 October 2019. The final dividend of approximately 4.31 pence in the pound applied to claims against any of the three trading names. The current themoneyshop.com is operated by New Horizons Finance Limited as an Introducer Appointed Representative of Flux Funding Limited (FCA reference 806333), the same principal firm that authorises the relaunched PaydayUK and Sunny. Verify any current entity directly via the FCA register before any application.
How the current Money Shop works
The current operation is structurally different from the original. There are two reasons borrowers need to know the difference. It determines the regulated activities the operator can perform. It identifies the proper recipient of any complaint about the service.
It does not lend its own money
New Horizons Finance Limited, the operator of themoneyshop.com, is a credit broker. It does not issue loans. Applications submitted through the site are passed to a panel of third-party lenders. Approval, terms, interest rate and the credit agreement come from whichever lender accepts the application, not from The Money Shop.
The Introducer Appointed Representative model
New Horizons Finance Limited is an Introducer Appointed Representative of Flux Funding Limited (FCA reference 806333). Flux Funding holds the FCA authorisation under which New Horizons Finance Limited conducts broking activity and takes regulatory responsibility for that conduct. The same principal firm authorises the relaunched PaydayUK and Sunny brands. The shared element across the three brands is the regulatory principal.
It does not operate a branch network
The original Money Shop's defining characteristic was its physical branch network, which at peak exceeded 500 stores. The current Money Shop is an online-only credit broker. There are no branches, no in-person service, no over-the-counter cash advances. Any approach claiming to offer Money Shop branch services in 2026 is not connected to either the original or current operations.
The applicant's personal APR depends on the lender
Because The Money Shop does not set the loan terms, the applicant's APR is determined by the lender that ultimately approves the application. The advertised loan range of £100 to £5,000 over 3 to 36 months is indicative. Final pricing depends entirely on which panel member underwrites the loan. A soft search precedes any hard credit pull, keeping the early stage low-impact.
The original Money Shop
The original Money Shop was, at its peak, the largest UK high-street short-term credit operator. The chain expanded through the 1990s and 2000s. The network began contracting from 2014 onward as the FCA price cap rendered branch-based payday lending uneconomic at scale. The story of The Money Shop's collapse is also the story of Instant Cash Loans Limited, the parent firm that operated PaydayUK and Payday Express alongside it.
Brand established
Instant Cash Loans Limited launches the Money Shop high-street brand. The chain expands through the 1990s and 2000s as a network of cheque-cashing and short-term credit branches across the UK.
PaydayUK launched online
ICL launches the PaydayUK online brand alongside the established Money Shop high-street operation. The Payday Express online brand follows. By the late 2000s ICL operates three trading names under a single corporate operator.
Branch closures begin
The Financial Conduct Authority assumes consumer credit oversight on 1 April 2014. The first wave of Money Shop branch closures begins as ICL responds to tightening affordability rules and the announced price cap.
FCA price cap takes effect
The high-cost short-term credit price cap applies from January 2015. Daily interest is capped at 0.8 percent. Default fees are capped at 15 pounds. Total cost of credit may not exceed 100 percent of the principal advanced. Branch-based lending becomes structurally less viable than online-only.
PaydayUK stops online lending
ICL stops accepting new applications under the PaydayUK brand in October 2017. Money Shop continues to lend through the remaining branch network.
Money Shop stops lending
The Money Shop stops issuing payday loans in August 2018. Branch sales to other operators including Ramsdens, Cash Converters and H and T continue through the remainder of 2018, transferring pawnbroking and money-transfer assets to firms outside the ICL group.
45,000 affordability complaints
ICL receives approximately 45,000 affordability complaints in the second half of 2018, primarily relating to PaydayUK and Money Shop loans issued before the price cap. The volume exceeds the firm's capacity to service compensation while continuing to operate.
Scheme of Arrangement
ICL enters a Scheme of Arrangement under Part 26 of the Companies Act 2006. The Scheme is approved by creditors and sanctioned by the High Court on 8 October 2019. The Scheme covers all three trading names: The Money Shop, PaydayUK and Payday Express.
Claim deadline closes
The deadline to submit a claim under the Scheme is 9 April 2020. Claims are agreed by Scheme administrators with a total nominal value substantially in excess of the available distribution pool.
Final dividend declared
The Scheme administrators declare a final dividend of approximately 4.31 pence in the pound on agreed creditor claims. Distribution begins. Claimants whose original loans had been sold to debt purchasers have the dividend amount set off against the outstanding balance owed to the purchaser.
Domain acquired and relaunched
The themoneyshop.com domain is acquired by New Horizons Finance Limited and relaunched as an FCA-authorised credit broker, operating as an Introducer Appointed Representative of Flux Funding Limited. The original ICL operations continue to wind down separately under the Scheme.
If you had a loan from the original Money Shop
The Scheme of Arrangement is closed to new claims. The information that follows is provided for reference and historical context.
Compensation
The Scheme paid a final dividend of approximately 4.31 pence in the pound. No subsequent dividend payments are expected. The Financial Ombudsman Service is unable to consider new complaints against Instant Cash Loans Limited because the Scheme of Arrangement removed FOS jurisdiction over the firm. There is no further redress route specifically against The Money Shop.
Outstanding loan balances
Original Money Shop loan balances were sold to third-party debt purchasers as part of the wind-down. Borrowers receiving collection contact in 2026 should request the original credit agreement, verify the current owner of the debt, and check whether any redress amount has been correctly set off against the balance. The outcome can vary depending on which debt purchaser holds the account.
The cross-brand dimension
Because The Money Shop, PaydayUK and Payday Express were all trading names of the same firm, customers of any of the three brands may have agreed claims under the Scheme that span multiple loans across multiple brands. The Scheme administrators handled all three brands as a single creditor pool. The 4.31 pence dividend applied uniformly across claims against any of the three trading names.
If you are dealing with historical Money Shop debt
None of the services below charge for help with debt or credit. Each of those services operates independently of the lending and claims-management industries. Each charity can guide borrowers on challenging historical balances, dealing with debt buyers and the routes available where repayment is no longer realistic.
Considerations for the current Money Shop
For applicants considering using the current themoneyshop.com credit broker, three structural points are worth understanding before applying.
The current Money Shop is not the original Money Shop
Brand recognition does not transfer with a domain sale. New Horizons Finance Limited, the current operator, has no corporate, operational, or financial connection to Instant Cash Loans Limited or to the original Money Shop branch network. The original brand's reputation, service record and product profile cannot be inherited by the new broker operation. The current operation should be evaluated on its own merits as a credit broker, not on the basis of the original brand's track record. Authorisation can be verified directly on the FCA register.
The high-street brand association is misleading
The Money Shop name carries associations with a physical branch network that no longer exists. The current operation is online-only and has no relationship to the historical retail footprint. Borrowers expecting branch-based service or in-person identity verification will not find them at themoneyshop.com.
The applicant's APR is not knowable in advance
Because the broker does not set rates, the headline loan range published on themoneyshop.com does not predict what any specific applicant will be offered. Personalised APR is determined at lender level and reflects credit history, loan size and repayment term. The check returns an indicative result that the lender then firms up at hard-search stage.
Established active brokers and direct lenders worth considering.
Three currently-trading FCA-authorised firms with longer continuity under their existing structures. All comply with the FCA cost cap on short-term credit.
Established broker with a wide panel covering most major direct lenders. Operating continuously since 2011 with the same operating entity. Loans from 100 to 10,000 pounds.
Established broker operating the largest comparison panel in the directory. 30+ active lender partners. Pre-application eligibility checker as a soft-search tool.
Lower-APR longer-term direct lender for borrowers who can repay over 12 to 60 months. 1,000 to 8,000 pounds at 49.9 percent representative.
Sources and verification
Original Money Shop history and Scheme of Arrangement details verified against Debt Camel's record of the ICL Scheme and the Financial Ombudsman Service notice on Instant Cash Loans Limited.
Branch network and store sale details verified against contemporaneous reporting from the BBC, Reuters and the Financial Times covering the 2014 to 2018 period. Specific store transfers to Ramsdens, Cash Converters and H and T are documented in the respective firms' annual reports.
Scheme of Arrangement court approval date and procedural details verified against contemporaneous filings on the Companies House register.
Current operator structure and the Introducer Appointed Representative relationship verified against themoneyshop.com on 4 May 2026 and the FCA register entry for Flux Funding Limited (806333).
Cross-references to PaydayUK and Payday Express verified against the Swift Money PaydayUK directory entry and the underlying ICL Scheme documentation.
Swift Money Limited is a credit broker, not a lender. Inclusion in this directory does not imply a commercial relationship between Swift Money and either entity operating under The Money Shop brand. We are authorised and regulated by the Financial Conduct Authority, FRN 738569.