Payday Cash is an online lender that claims to offer payday loans directly to you. They have it set up so that they keep your account on their website, allowing you to login as a returning customer and re-loan or extend your loan as needed.
At first glance everything seems on the up and up here, but it doesn’t take much more of a closer look to start finding things that make you say hmmm. In a marketplace where there are hundreds and hundreds of lenders all with the same product, money, it comes down to the finer details, and the company you go with should have a strong focus on the fundamentals.
The first is that you should offer a competitive rate in regards to how much you charge to borrow the money. Another important factor is that you provide quality information to your visitors and potential customers, that they can actually read. And third, you should present yourself as a legitimate company that someone would actually trust with their bank account and other personal information.
EZ Payday Cash Reviews
The fees for a loan from EZ Payday Cash are off the wall, even compared to other payday loans. You know that you’re going to be paying high interest rates and fees by taking out a short term loan, that’s part of the game. But you don’t have to sit idly by while a company tries to take even more money than it should. Look at the rate for a $500 loan. They want you to pay a $150 fee on that which is an equivalent APR of over 1500% for just 7 days. That’s ludicrous. Compare that to a $500 payday loan taken out in the state of Michigan with a fee of $65 and that’s looking pretty good.
Outsourced Content
You can tell a lot about a company by the way they present themselves online. In this case EZ Payday Cash has decided to outsource the content for their site overseas. It’s easy to spot. For example, look at this sentence, taken from their main page: “Life comes with full of unexpected commitments and lack of funding can make you go for a toss.” Aside from the grammatical error in the beginning, what does it mean to “go for a toss”? This is a classic case of outsourced content, most likely from India.
Secure Application
They do have their application on a secure server once you give them your name and email address. It’s always important to check your web browser to see the little lock next to the URL and make sure that it starts with https instead of http. Most browsers these days will also have it change color so that you know that you’re on an encrypted page. Although you might not notice it these days because many things like Facebook and Google are now on secure servers, so luckily it’s becoming more and more normal.
Complains Page and Other Funny Things
We’re always leery of a company that has a page dedicated for complaints. Why not label it customer service, unless you’re getting a high volume of complaints and you suspect a large portion of your visitors are coming to your site in order to file one.
“If your banking information is still dynamic and in flow…” This quote is found on their page for returning customers that are going to make a promise to pay. Another example of outsourced content, but almost too priceless to hold it against them. It sort of makes you wish that you did have dynamic banking information, and that it could in fact flow. Or how about this, one of their requirements: “You should have a regular source of financial game”. Wouldn’t we all love that? Even their requirement page is broken down into the “haves” and “have nots”. Priceless.
And don’t get us started on their blog, where you can find out all about “car tile loans”. We’re not kidding.
But as cute as the silly content is, we can’t in good faith recommend doing business with them. Unless you want to find yourself coming back later to visit the previously mentioned complaints page, do yourself a favor and pick a different online lender.