Amscot

Overview: Amscot Financial, commonly known as Amscot, is a leading provider of non-bank financial services headquartered in Tampa, Florida. Founded in 1989 by Ian MacKechnie, the company has grown to become one of the largest financial service companies in Florida, specializing in check cashing, bill payment, prepaid cards, and payday loans. Amscot operates exclusively in Florida, serving millions of customers annually through its extensive network of retail branches.

Products: Amscot offers a wide range of financial services tailored to underbanked and unbanked consumers. Its core offerings include check cashing, money orders, bill payment, cash advances (payday loans), prepaid debit cards (notably the Azulos by Amscot Mastercard), wire transfers, notary services, and ATMs. The company also provides free money orders and offers the Azulos Plus Account, a reloadable prepaid card with a dedicated mobile app for account management. Amscot’s services are designed for convenience, with most locations open 365 days a year, many operating 24 hours.

Market Position: Amscot is recognized as the dominant player in Florida’s alternative financial services sector, with over 240 locations statewide as of 2025. The company’s focus on customer convenience, extended hours, and a broad service portfolio has enabled it to capture significant market share among working-class and immigrant populations who may lack access to traditional banking. Amscot’s brand is synonymous with reliability and accessibility in the Florida market, and it is frequently cited in industry analyses as a top regional provider.

Growth: Since its founding, Amscot has experienced steady organic growth, expanding from a single Tampa location to over 240 stores across major Florida metropolitan areas, including Miami, Orlando, Tampa Bay, and Jacksonville. The company has not expanded outside Florida, maintaining a focused regional strategy. Amscot continues to invest in technology, such as the Azulos mobile app, and in-store upgrades to enhance customer experience. There is no public record of major acquisitions or mergers, and the company remains privately held by the MacKechnie family.

Real Estate: Amscot’s real estate strategy centers on high-visibility, freestanding or end-cap locations in densely populated urban and suburban corridors. Typical stores range from 1,200 to 2,500 square feet, with a preference for sites offering ample parking, strong traffic counts, and proximity to grocery stores or discount retailers. The company’s real estate team actively seeks new sites in established and growing Florida markets, prioritizing accessibility and convenience for walk-in and drive-up customers. Amscot does not franchise and all locations are corporately owned.