What is CashXpress?
CashXpress Philippines is an online lending platform that offers short-term loans to Filipinos. It’s owned and operated by CashXpress South East Asia Lending Inc. The company provides a convenient and fast way for people to borrow money for various purposes, including emergencies or unexpected expenses.
How does CashXpress loan work?
Through the CashXPress PH platform, users can apply for small, unsecured loans that do not require any collateral. The loan is approved based on the information provided by the borrower. When all the requirements are submitted, CashXpress will evaluate and determine if the application is approved or not. Once approved, the loan amount will be disbursed within 24 hours.
How can I apply for a loan with CashXpress?
To obtain a Cash Express Philippines loan, you have to register through the official CashXpress website. Fill out the online application form and upload a valid ID and other required documents. If approved, you will receive a confirmation code on your registered mobile number.
You will then receive the loan amount in real time, deposited to your bank account or e-wallet through Cash Express money transfer.
Requirements
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You must be a Filipino citizen living in the Philippines.
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You must be at least 23 years old.
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You must be employed or self-employed.
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You must have Social Security System (SSS) Number.
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You must have a bank account, GCash, or PayMaya (to receive loan proceeds).
If employed:
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One (1) valid Government-issued ID (PhilSys, UMID, SSS, Passport, Driver’s license, etc.).
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Contact references:
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Name and contact of HR or Direct Supervisor
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Name and contact of 1 or 2 work colleagues
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Name and contact of 1 or 2 personal references (relatives or persons in the same household.
If self-employed
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DTI certification, business permit, Mayor’s permit
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Contact references:
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Name and contact of trade supplier
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Link to online shop (if available)
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Two personal references (relatives or persons in the same household)
How much does CashXpress loan?
CashXpress offers loan amount from P1,000 to P20,000. The interest rate for the first loan is free and loan term is 7 days. For subsequent loans, the term of the re-loan can be up to 30 days.
The company automatically increases the credit limits of returning borrowers with good credit history. The credit line will be subject to the previous loan repayments.
The listed interest rate of CashXpress in SEC is 5.0% per month, however, the interest rate varies based on the loan amount and loan term. If you go to CashXpress login, you can use the built-in calculator to determine the exact interest rate.
How do I pay my CashXpress loan?
CashExpress has partnered with multiple payment channels so it’s easy for you to repay your loan on time. Log on to your browser app and click the “Pay Now” button. Select your preferred payment method and a reference number will be generated accordingly.
Make sure you pay on time to avoid late payment penalties and other charges. If you feel that you’re unable to pay on time, you can request for extension before the due date. Just log on to your account and click the “Extend Loan” button to activate the extension. CashXpress gives an extension of up to 3 days. The term of a re-loan is 5 to 30 days with an average interest rate of 2.1% per day.
Is CashXpress legit?
Yes, CashXpress is a legitimate online lending company in the Philippines. It’s listed in SEC as CashXpress South East Asia Lending Inc and is authorized to operate as a lending company in the country on June 20, 2019. It’s compliant with Philippine laws, specifically “Truth in Lending Act.”
CashXpress app
CashXpress app is a browser-based platform designed to make loan applications quick, easy, and convenient. All the loan processes happen on the browser. There’s no separate app to download.
You may be wondering if your personal information is protected when you use the CashXpress app. Since CashXpress is accredited by the National Privacy Commission and complies with The Data Privacy Act of 2012. It’s safe to say that the platform has been developed with data security in mind, employing advanced security features and encryption.
However, it is always important to be aware of potential security risks and take steps to protect your information, such as using strong passwords and enabling two-factor authentication where possible. You must exercise due diligence before using any online lending app.
CashXpress customer service
If you have any concerns regarding your loan application, you can contact CashXpress customer service on any of the following channels.
Hotline number:
- +632 7902-7390
Smart:
- +63 919-073-7629
Globe:
- +63 917-163-3690
Email addresses:
- General inquiries: info@cashxpress.ph
- Customer support: customersupport@cashxpress.ph
- Payment concerns: payments@cashxpress.ph
- Loan applications: verification@cashxpress.ph
FB Messenger Chat: www.fb.com/cashxpressphilippines
CashXpress complaints
CashXpress complaints stem from the high fees associated with the service. Additionally, some users have complained about the strict requirements and the number of documents that need to be submitted just to get loan approval, which contradicts what has been advertised (i.e., that it only needs one valid ID). Some say that the requirements are comparable to banks and other traditional lending companies.
CashXpress reviews
As the CashXpress platform is not a downloadable app from the Google Play Store or App Store, reviews are not widely available. Many of the CashXpress reviews on social media are generally positive, praising the platform for its simple and intuitive interface.
Borrowers are also impressed at how fast loan applications were approved after submitting the necessary documents. What’s also noteworthy is that the loan amount is disbursed within minutes after loan approval. It happens almost in real-time, depending on your chosen method of payment. You’ll get the money faster using an e-wallet, such as GCash or PayMaya.
Have you used CashXpress? Share your experience here.