CashNow.com Review: Seem Legit but Has No Positive Feedback

What is CashNow.com?

CashNow.com is an online service which is connecting borrowers with suitable direct lenders. The company was created in 1997 and have already helped hundreds of thousands of applicants to get short-term loans. Their aim is to help consumers find the best online lender who may be able to satisfy his financial needs.

Types of Cash Now loans

CashNow.com cooperates with a network of lenders offering payday loans – short term unsecured loan of small amounts, usually ranging from$100 to $1,000. This type of loan is is to be repaid on your next payday (original loan plus interest).

Payday loans are also known as payday advances, cash loans, cash advance, fast cash, deferred deposit, and so on. They help people cope with their financial crisis.
The large network of direct lenders can help in 90%. If approved, the lender deposits the funds directly into your bank account as soon as the next business day.

Terms of Use

CashNow.com is not a lender and does not make any loan decisions. This service is a link between you and a lender. It provides a service only and is not acting as a representative, agent, or broker for any lender.

CashNow.com works with a large network of lenders who are able to approve your loan in a couple of minutes. The system reviews an application and automatically chooses the most suitable lender for your needs based on the loan amount requested.

The company does not guarantee that all customers without exception will be connected with a lender. The online matching service will do it best to help you receive a loan in the amount of $100-$1000, based on the client’s information provided and lender’s policies. Some lenders from the network will not be able to offer you a big loan until you create a good payment history with them.

Payday loans don’t require proof of good credit history but usually, come with high interest rates. The specific rates are not mentioned on the website since they vary by lender. That’s why before you sign a contract, make sure you understand all the terms and rates associated with your particular loan.

There are basic requirements you need to meet to get approved for a loan. However, they mention that meeting these requirements does not guarantee that you will be matched with a lender:

1. You must be 18 years of age or more;
2. You must have a job (or other steady income);
3. You must have an active bank account.

Some lenders may have specific requirements and pay much attention to their own set of eligibility criteria: income, the frequency of salary, credit history, and your location. All these aspects may affect the lender’s decision on your loan.

You have better chances of being approved, if you have a regular source of income.

If you do not have a driver’s license or a state ID, you will need to provide your passport number or SSN. The network includes several lenders that can lend you funds even if you only have a bank account.

In some cases, a lender may contact you and ask to provide some additional information in order to make a positive decision on your loan.
CashNow.com mentions that they are not involved in loan decisions and do not have information about the status of your loan. For this, you will need to contact the lender you are connected with.

If you do not wish to accept a loan offer made by a particular lender, you may request a loan again using this matching service. They promise to do their best to match you with another lender.

If you are not ready to accept an offer, you can always refuse.

Application

When applying for a loan through CashNow.com, you cannot see exact rates and fees before filling out an online application, where you will be asked to provide some personal and financial details:

1. Your name and address;
2. Driver’s License number, state-issued ID, SSN;
3. Your employer’s name, address and phone number;
4. Your monthly income;
5. Bank account details.

They mention that clients are not required to fax any documents. However, in some cases, the lender may ask you to fax some additional information to verify your solvency, so you’d better have access to a scanner or printer.

Loan Repayment

A payday loan is normally repaid on the next day you get paid. The specific instructions and available loan repayment options will be specified in your loan contract.

If you’re connected with a lender, you will be directed to your lender’s loan documents. When you loan is due, the funds are automatically taken from you account. However, nothing was mentioned whether it’s allowed to repay your loan before the due date.

Consumers are advised to contact the lender directly if you have any issues or questions related to loan repayment.

Loan Extension

According to the website, lenders from the network of CashNow.com have different loan renewal policies. Most lenders will allow a client to renew his loan by paying an extra fee. You’d better ask the lender in advance whether you will be able to extend a loan.

Nothing was mentioned about how many loans you are allowed to have at a time.

CashNow.com Bad Credit

This company is not a lender and does not check your credit history. Most of its lenders do not perform traditional credit checks, however, they may use various databases, such as TeleTrack or DataX in order to verify your identity, solvency, and past loan history.

Technical Characteristics of CashNow.com

Encryption

CashNow.com uses secure technology to protect borrowers’ sensitive information. The company has taken measures to provide the high security of personal and financial information people submit to this website. The users’ data is secured by 256-bit SSL protocol during its online transfer. The secure connection is verified by COMODO CA Limited:

Regretfully, the matching service cannot guarantee that this information will not be stolen by others and bears no responsibility for that. This means that using this website is still a risky business. Bear in mind that your name, address, phone and account number may be viewed by others.

Mobile Version

CashNow.com does not have a mobile version. Here is the verdict from Google:

It turned out that the viewport is not set, links are too close together, the text is too small and it’s difficult to read it.

This means that this website is not comfortable and mobile-friendly. Coming to the website from your mobile device, you will certainly experience inconvenience, have to scroll the pages, and so on. The applicant may never return to this website again and search for more convenient websites that help to find the best payday loans online.

Antivirus

CashNow.com does not use an antivirus program which means that consumers’ PCs may get infected with dangerous viruses, trojans, and other threats. Some malware may even hack your account and steal banking information.

The site’s owner has to do something about it and provide higher security to his clients. All people want to feel safe while using lender matching services.

The Convenience of Use

CashNow.com guarantees that applying for a loan online will only take a few minutes (unless the lender asks to fax some documents). You need to simply fill out a pre-application form on the front page of the website (loan amount, name, email, zip code) which will direct you to a full questionnaire. After that, you need to submit it and CashNow will try to match you with a direct lender from its network:

If you are matched with a lender, you will get a loan offer. The lender will specify all the details and fees before you electronically sign the loan contract. However, you are not obliged to accept the loan. If you do not like the terms and rates, simply reject the offer and submit another request to get connected to a different company.

If you accept the offer, the funds will be electronically transferred into your bank account the next business day.

In general, CashNow.com is a convenient and simple website which helps to find the best loan offer for your specified needs. The site has a detailed FAQ page with answers to the most popular questions so it may be very useful if you are a newcomer. However, I do not like that the website does not list approximate interest rates – you will only be able to see them after you complete an application form. Consumers submit very sensitive details to this website and it would be better to know the rates in advance.

Is CashNow.com Legit?

I checked the reputation of CashNow.com using ScamAdviser. Fortunately, this website has a high trust rating of 93% out of 100%, which improved the image of this company:

According to ScamAdviser, the domain was created over 20 years ago, the website’s location is the United States but the owner country is hidden – the site’s owner uses an anonymous service to hide its owner country. Besides, the website is rarely visited, which means it’s not very popular. However, I found no evidence that this matching service is operating illegally.

CashNow.com Reviews

On-site Reviews

There are a few CashNow.com reviews on the native website of the matching service.

Sandra W. from North Carolina said that Cash Now helped her cope with her financial troubles and she was grateful for that.

George A. from Maryland reported that he used this website and application was simple. He was able to receive $500 in his banking account the same day.

Regretfully, I cannot trust these testimonials for some reasons. First of all, there are selected (or even composed) by the website’s administration and placed on the front page which made them look more like an advertisement. Besides, they are too limited and not dated. I conclude that there are no trustworthy Cash Now reviews on this website and it does not even have a testimonial page.

Reviews on Independent Third-Party Websites

I hoped to find some reviews on independent third-party websites, especially knowing that this company has been existing for over 20 years. Regretfully, not a single clients said good things about this matching service, I was only able to find 1 CashNow.com complaint on the net stating that this company is a scam. The user said he received harassing phone calls from Cash Now and that they would take people for everything they’ve got. He recommends reporting this “illegally operating scammers” to the attorney general.

This complaint sounds alarming and undermines my trust in Cash Now services.

Customer Support

Contact Information

Cash Now provided the following contact information on its native website: email: [email protected], phone number 1-800-518-2274, and the mailing address (New Orleans, LA). Regretfully, their physical address was not mentioned:

I would like to learn where this company is located. Cash Now asks people to provide very sensitive details on this website and it’s important for men to know all the details about this company.

CashNow.com Locations

There is no information about Cash Now locations. They also mention that residents of some states will not be able to get a payday loan based upon lender requirements.

Getting a Consultation

If you have any questions about Cash Now services of payday loans in general, you can contact the customer support representative by mailing at 6221 S. Claiborne Ave., #468, New Orleans, LA 70125, by emailing at [email protected], or by calling at 1-800-518-2274. They say the customer care department is operating 24 hours a day, every day of the year. However, if you like questions about your current loan rates and terms, you will need to contact your lender directly who may be only available during normal business hours (Mon-Fri 8 am – 5 pm) since not all lending companies work on weekends and holidays.

Since I found no live chat option on the website, I decided to reach the company’s representative and ask them to specify Cash Now locations. I waited for 5 hours but nobody replied. Obviously, they either only operate in business hours or have a poor customer support team.

Conclusion

CashNow.com seems a legit lender-matching service that helps residents of some states find the best payday loan offer. They work with a vast network of lenders who are able to lend you up to $1000 within 24 hours or even 1 hour. At first sight, this seems a perfect bridge connecting people to the most suitable lender. The company has a high trust rating from ScamAdviser and offers a simple application process. However, there are some aspects that confuse me: I found no legal Cash Now address, there are no positive reviews about this online service and their customer support is far from perfect. Besides, they bear no responsibility for decryption of customers’ personal information and do not list approximate fees and rates. The last thing that prevents from recommending this lender matching service is that they specialize in limited loan types and loan amounts. If you still decide to apply for a loan through this website, be careful with your sensitive personal and financial details!