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Is RoboCash a legit Company?

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Is RoboCash legit? This is a question that lingers in your mind when you hear the firm being mentioned. Yes, RoboCash is legit, and it has been in existence since 2017. The lending platform belongs to the RoboCash Group that originated from Russia. The group was established in 2013, and the aim was to provide consumer loans in eight countries in Asia and Europe.

The firm has been operating in the Philippines from October 2017 to date. As a result many Filipinos have received credits at an advantageous rate. Additionally, RoboCash has been licensed by the SEC to provide short-term loans. This proves the company is legit, and you can request for a money or invest.

Online loans in the Philippines

In the Philippines, accessing loans from financial institutions proves to be an uphill task. Before your credit being approved, one has to go through various documents. Furthermore, you need to have collateral to be approved and the interest rate are high. This one of the policies that hinder many from getting personal, business, student, or asset loans from the bank.

However, after the introduction of online lending platforms, many citizens have to borrow money online philippines. The online funds are providing different types of credits to individuals at an affordable rate. Plus, one doesn't need to have collateral to be approved. Moreover, the firms provide short-term loans that are approved within minutes, at a low-interest rate. The tenure takes 6 months maximum.

According to research, only 4.4 % of citizens in the Philippines source for credits from the banks. 95.6 % of the population seeks funds from informal sectors, which includes online platforms. The research further shows that online platforms approve 47% of loans outside the banking days and hours. This shows how the lending apps have become a perfect avenue to access credit within a minutes.

RoboCash is one of the leading corporations that approves over 95 % of requests in the Philippines. The firm has even registered over 300 thousand loans which has been approved to consumers in the country. This shows how Filipinos opt for online loans rather than bank credits.

How to find Reliable Loan Companies in the Philippines

There are various online lenders that you can access from your smartphone. One can download the app set an account and make a request. On the other hand you can set into any financial institution and request. However, how safe if the lending company? Not all the lending firms have your interest at heart. Some of the firms are after your personal information which will be used for criminal activities. The company might even use the information to drain your primary accounts, or blackmail you. In this section, we are going to discuss how you can identify a reliable lending company.

To find a legitimate firm, you’ll need to go to the Securities and Exchange Commission website. All financial institutions in the country are registered under the commission, which gives them licenses to operate. Nonetheless, that is not enough, go through the consumer reviews, both positive and negative comments. This, in turn, gives you a deeper understanding of the firm. Hence, whether you're seeking online loans or traditional credits in the Philippines, you need to check for this details.

Signs of a legitimate Loan Company

To identify if the lending firm is legit you’ll need to check for the following signs. Whether you are seeking loan from an online platform or a bank.

1. The institution provides you with an SEC certificate. For any financial corporation to operate in the country, it must have the certificate. The document is given by the Securities and Exchange Commission to show the firm operates within the legal framework. If the lender doesn't have this certificate, do not subscribe to their services.

2. The payment terms and other details given must be clear and easy to understand. Each organization has policies that have to be followed. The terms are meant to protect you as the consumer and the lender as well. Therefore, go through the terms and conditions, and if something is not clear, ask. If the answer given isn't clear, look for another institution to request for the funds.

3. You’re supposed to respond to basic information only. When applying from a bank or financial institution, personal details are needed. This includes your email address and physical address, Name, and your financial statement, among others. However, if the lender asks for your credit card details, or even pin, that is not ethical. If that is the case, then the company is not legit.

4. The firm must provide you with full contact details and physical address. Though the institution might be online, they have a physical address where you can reach them in person.If you cannot reach their offices, then the communication channel has to be reliable. This means you can reach them anytime you have an issue resolved immediately. Remember requesting from a firm that doesn't have a physical address or contact details is not wise.

5. No payment should be needed by the lender to cater for expenses. Its known by law any expense incurred during the loan acquisition should be deducted from the loan. Thus, one is not supposed to ask you for cash to process. If that is the case, run and look for a legitimate lender.

Is RoboCash a legit company?

Is Robocash SEC registered? Yes, the firm is registered under the Security and Exchange Commission. The firm's registration number is CS201730459, and you can check it up on the commission website sec.gov.ph.If you were skeptical about RoboCash's legitimacy, the certificate clears your doubt. Hence, you can go ahead and request a loan.

RoboCash loan requirements

For your loan request to be approved, there are parameters one needs to meet. They inculde

You must have an account.

One must be a Filipino citizen.

You must be between the ages of 21-70.

Your government-issued ID card is needed to prove your identity.

You are expected to provide a valid, current mobile number.

For approved, you must be employed or self-employed.

Your financial statement, PaySlip, company ID, COE, DTI, and ITR documents are also needed. This determines if your request shall be approved or not.

Advantages of RoboCash

Here are the benefits you get to enjoy when using the firm

RoboCash does not require collateral for the credit to be approved.

The company works 24/7; hence you can access their services any day or anytime.

There is minimal documentation.

Once the loan is fully repaid, and on time, your limit increases from PHP 10,000 to PHP 25,000.

The firm offers you a deadline extension if you're not able to repay on time. This helps you to maintain a good credit score.

RoboCash offers money to you even when you have a bad credit score.

Conclusion

 RoboCash is legit, and it is here to help you with your financial troubles. Your applications are approved within minutes, and you're also given ample time to repay it. This helps you maintain a good credit score. This, in turn, increases your chance of getting long-term credits from the banks. Therefore, apply for online loans from RoboCash, and you won't be disappointed.


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Published on August 31, 2020

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