Cash Genie has been in the online payday loan business since 2009, and today, it is one of the leading UK lenders providing same day service to customers.
The service, operated by Ariste Holding Ltd, specializes in offering
short-term loans, meant to be used for temporary shortfalls in personal
financing, such as emergencies, until your next salary from regular
employment, often within a few weeks.
These are NOT debt products for long-term financial problems, partly because of the typically high costs of borrowing, as evidenced by high annual percentage rates (APRs) of interest.
Even in the short-term you should look into the available payday advance alternatives in UK, such as taking a small loan from a friend or a family member, a salary advance from your job, or a small consumer loan from a local bank.
Because having a regular, steady job is a central requirement in getting one of the payday advance loans, you might be able to get a loan even if you have bad credit.
However, the firm makes lending decisions on a case by case basis.
According to their website's FAQ section, at the time of writing this, other requirements to getting a loan include:
You must be 18 or over,
you have permanent employment,
earn a minimum of £500 per month,
are a UK resident, and
have an active bank account with a debit card
To apply for a cash advance loan from the firm, there are several steps involved in the process.
For the first, you need to fill in the loan application form, which is available from the official website.
After you have submitted the application form, a fast decision will be made whether the application is unsuccessful or processed further.
If successful, the next step is to sign the payday loan agreement, after which final security and verification checks are completed.
Part of this verification process will be a credit check, but bad credit may not prevent you from getting a payday advance from the service.
Finally, the firm will be in contact with you to arrange the transfer of the funds. Typically, the loan process will be completed within an hour, from start to finish.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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