In the spring of 2016, the Viennese start-up company launched the page Cashexpress. The idea behind it is simple and yet ingenious. Time and again, consumers need smaller amounts of credit, in the sum of up to 1,500 euros. These are orders of magnitude needed now, not the day after tomorrow. For example, because there is the wish tablet in the super special offer, but unfortunately it is already the 28th in the month.
Cashexpress frame credit test
Although the company itself speaks of the Cashexpress credit, the procedure is similar to that of an installment loan. The maximum loan amount is 1,500 euros. The annual percentage rate at the end of 2017 is 14.99 percent per year. Other companies that specialize in small or micro loans also charge around 15 percent APR for a maximum loan of EUR 600.
How fast the funds are available is demonstrated by the fact that the borrower can pay directly from the Cashexpress account in online shops. Alternatively, of course, there is also the option to transfer the loan amount to your own checking account.
The repayment also moves in a very low frame. It amounts to five percent of the loan amount, at least twenty euros a month. The date of repayment is selected by the borrower via the app itself. The usual data banks, the 1st or the 15th of a month, do not work.
Cashexpress means credit by mobile within minutes. The account is opened at Cashexpress within ten minutes. The company then grants a credit line, a disposition, on the credit account, completely detached from the customer’s actual bank.
Cashexpress only incurs interest on the actual credit line used. Who opens a Cashexpress account, but does not access it, does not have to expect hidden costs.
Who can use the Cashexpress credit line?
Prerequisite for the cahspresso credit line is the age of majority, German or Austrian citizenship and a mobile phone with Android or iOS operating system. The loan is not available for persons with another citizenship, but resident in Germany or Austria.
The account opening
To open an account, you only need to enter
- Date of birth
- E-mail address#
- phone number
- Bank account with a German bank
No documents such as salary or copy of the passport need to be sent. The identity check is done by video chat, the legitimacy by cellphone signature. Within a few seconds, the automated decision is made as to whether a loan is granted.
There can not be too many negative private credit features for the Cashexpress installment loan. According to reports of experience, the private credit exam is very fair, so that an application is often worthwhile.
Experience: Serious & often useful
The product Cashexpress is respectable and tailored to internet and mobile customers with temporarily low credit requirements. The interest rate is not one of the cheapest for credit lines. But the handling of the account is simple and flexible. For those who need a quick “Euro”, Cashexpress certainly offers a real alternative to the more expensive disposition of the house bank. The opening process is so quick and easy that a customer can even carry it out to the store at the sight of the dream tablet for immediate purchase.