CashUsers Terms and Conditions
All you need to know before registering
Applying for a loan on CashPazz™
Entrepreneurs from CashPazz participated countries who are 18 years of age or over may submit loan applications to us by registering as a Cash-User.
Non-members may also apply to borrow. As a condition of any approved loan, non-members will be required to become a member of CashPazz and as such to meet and maintain minimum membership requirements in terms of returns and investments.
We offer a variety of ways to apply for a loan from CashPazz. Current members who have registered for our secure online KwikKwik investment facilities can submit their loan applications online via their secure portal email. Loan applications can also be taken over the phone with our Member Services Team on hand to guide you through the application and answer any questions or queries you may have, which is highly exclusive to premium members to limit traffic. Paper applications are not in practice.
In order to comply with money laundering regulations, before we provide any service to you, we may search the records of one or more registered credit reference agencies who will provide us with information from the Electoral Register and any other data appropriate to the search. This is compulsory due to recent issues surrounding CashPazz users from Brazil, Nigeria and Ghana.
The approval process
CashPazz is a responsible lender. We give every loan application we receive careful consideration and make a decision based on the income and expenditure and overall ability to repay the loan. We have a duty to each loan applicant to ensure that any loan approved, does not result in them facing financial difficulties and a struggle with repayments. We also have a duty of care to all our members and have to ensure therefore that we take no undue risks with our members’ money.
It is important to highlight that as a financial organisation, we are working hard to expand our horizon and we reserve the right to decline certain applications. If we do reject an application, this will be following an assessment of the application by our professional lending team. A loan refusal simply means that on this occasion we feel unable to offer the amount of loan that has been requested. In some circumstances, we may offer a reduced amount.
And if crime case of fraudulent act is filed against you in your country or residential province, ether recent or as a record. CashPazz will decline your loan application. This is to guild our members from fraudulent societies such as Ghana, Brazil, and Nigeria where sanctions has been enacted to us recently due to fraudulent members.
CashPazz do not receive funds before lending. Cash-Users are peered to receive approved loan directly from Cash-Givers and are monitored to pay back at the stipulated time.
Proof of income
When assessing a loan as a Cash-User, we may require proof of income, Certificate of incorporation and copies of recent bank statements. As a general rule, for loan applications between $2,000 and $25,500 or equivalents, we will be looking for one month’s proof of income and a recent bank statement. For loans in excess of $30,000, two month’s proof of income and two months recent bank statements will be required.
A loan offer
Following the assessment and approval process, we may make a loan offer. Any loan offer made by CashPazz will be subject to:
- Registration as a Cash-User.
- The completion and return of a Loan Agreement
- The completion and return as required of a Payroll Deduction Authority or Direct Debit instruction to cover loan and interest repayments
- Pay certain percentage base on requested loan, range from 25% – 50%.
When borrowing from CashPazz as a Cash-User, you are signing a legally binding loan agreement. Should you have any doubts as to the meaning of any part of the loan agreement, you should consider seeking independent advice from a solicitor, the Citizens Advice Bureau or other similar organisation.
For so long as any part of a loan or interest on it is paid, CashPazz shall retain your membership trust up to the value of renewing your loan if desired. And you will not need to provide all previous documents and procedures is going to be brief.
‘Trust’ here means investment (Money) you have in your care and are expected to be productive and return to owner within 7 – 25 days.
Fees and Interest
CashPazz serves as a strict online investment entity and gain its income by growing larger network of entrepreneurs whom are expected to gain from its investment program and loans. no fees, no interest on loans and no collateral. Members are online asked to voluntarily donate to supports programs whenever there is need for it. This serves as yearly giving-back project.
In signing your loan agreement you are agreeing to repay the loan directly to Cash-Users, as peered by CashPazz secured investment peering system. you agree to pay all money plus interest back to the peered Cash-User within stipulated time frame and are not subject to excuses.
Unless otherwise agreed between us, the whole of your deposit may be applied towards the repayment of the loan and the interest due on it. As the lender, we are authorised to debit the deposit account with the payments specified in the loan agreement until all monies due (including interest to the date of closure) have been repaid.
For members repaying their loan by installment, should only do so twice, this should be stated in the agreement application if it’s your choice of repayment.
Payment holidays are not permitted for any of our loans. Deferral of payments at the start of a loan are also not permitted.
Loans may be repaid in full at any time with no early repayment penalties. Additional payments to reduce the outstanding loan balance can also be made at any time without any penalties or charges.
For Fast Track loan clearance 5% early repayment charges on outstanding balance apply.
Money can be paid into your peered Cash-User’s account in the following ways:
- By Direct Debit (it is your responsibility to ensure that the bank details provided are correct)
- By Payroll Deduction (from participating partner employers)
- By Benefit payments
- By Debit Card
Direct Debit payments
There is a two day clearing system in place for all Direct Debit payments. This is to ensure that the payment clears and is not returned unpaid by your bank. Funds will be placed in your Instant Access Savings Account for this period and as such will accrue dividend. It is your responsibility to ensure that the bank details provided are correct.
Should you fail to make payment of any amount due to the Cash-User, or should your business end for whatever reason, or should you set up a Trust Deed or become bankrupt, your entire balance outstanding will immediately become due and payable together with all the interest that would have been payable if the loan agreement had run its full term.
As borrower, you assign to CashPazz (the lender) all paid amount and payment on account of loan held with the lender which the borrower has now, or which the borrower may have in the future as security for payment of the balance outstanding and all costs, expenses and charges incurred by the CashPazz in connection with the loan, and the borrower authorises CashPazz to apply any or all such paid interest or payment on account of Cash-User towards the satisfaction of any amount which the Borrower may owe.
As borrower you are advised that the loan agreement is a legally binding contract and that if you fail to comply with any of its terms, you may render yourself liable to further action, which may include crime commissions, court action to obtain repayment of all sums due under the loan agreement. In cases of default, as borrower you should also be aware that CashPazz may seek to recover funds due via any Department for Work and Pensions benefit payments which you may receive.
As lender, CashPazz may terminate the loan agreement and demand immediate repayment of all sums due in respect of the loan agreement after giving any written notice required by law if:
- a) The borrower shall fail in any material respect to keep any part of the loan agreement.
b) The borrower shall have deliberately given false information or given inaccurate information in connection with the loan agreement or any other credit agreement between the borrower and the lender.
c) The borrower shall be the subject of a court action which has the effect of taking away from the borrower’s control of the whole or a substantial part of the borrower’s assets.
d) The borrower shall become incapable in law of managing their own affairs.
e) The borrower shall either be declared bankrupt or grant a Trust Deed for their creditors. In such case all the interest that would have been payable if the loan agreement had run its full term shall become payable forthwith.
Should the lender terminate the loan agreement or should the borrower default, the lender is entitled to the repayment of the whole sums due under the loan agreement and may retain monies held by the lender for the borrower in any other type of account and apply the said monies held on or towards payment of the balance outstanding in terms of the loan agreement.
Loan agreements may be cancelled within 14 days after the loan is advanced to you by:
(i) telling us you want to cancel it (for example by telephone) within that 14 day period, and
(ii) giving us written confirmation of cancellation within 5 working days of the initial cancellation request.
There is no penalty or charge for cancellation, however the loan must be repaid in full together with all unpaid interest which may have accrued. Interest will run from the date of loan issue until the date of cancellation.
CashPazz is a data controller of the information provided on loan application and other forms in terms of the Data Protection Act 1998 as amended. As part of the processing of any loan application and in order to comply with Money Laundering regulations, before we provide any service, we may search the records of one or more registered credit reference agencies who will provide us with information from the Electoral Register and any other data appropriate to the search. The agency will keep a record of that search. This may be used by other lenders when processing future applications for credit you may make.
Information held about you by the credit reference agencies may already be linked to records relating to one or more of your partners. Where appropriate, any loan applications submitted may be treated as financially linked and your application may be assessed with reference to any ‘associated’ records.
In addition, if the application is successful, details of how you repay this agreement may be provided to the credit reference agency who will make this available to other lenders who may use the information for credit assessment, tracing of absconders and fraud prevention.
We may also consult other CashPazz’s and will take into account, information concerning your employment prospects of which we become aware.
If your loan application is successful, your details will be held by the CashPazz to enable your loan to be managed. This information may be shared with other CashPazz’s to protect the CashPazz’s assets and to help prevent fraud. Details of any financial transactions involved (such as payroll deduction) will be made to the company/organisation concerned.
In the event that you default on your loan or any terms and conditions in relation thereto, details of such default or defaults will be passed to other CashPazz’s, debt recovery agencies and courts. In such circumstances, it is understood that the lender may disclose details of the borrower’s account and any matters relating to the account to any credit reference agency and to any individual, individuals or organisations for this purpose registered by the lender with the Data Protection Registrar.
Collection and use of personal information
CashPazz will not collect any personal information about you on this website without your consent. We will let you know what we intend doing with your information before collecting it, so that you can decide whether or not to furnish that information to us.
Any information which is provided by you will be treated with the highest standards of security and confidentiality and in accordance with the terms of the Data Protection Act 1998, Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the Protection of Individuals with regard to the Processing of Personal Data and on the Free Movement of Such Data, and any implementing and/or amending legislation as may be adopted in the United Kingdom from time to time.
If at any time after giving us personal information you decide that you no longer wish us to hold or use this information, or in the case that the information becomes out of date, you are free to notify us, and we will remove or rectify the information within a reasonable time and in accordance with legislative requirements.
You acknowledge and agree that in certain circumstances we may be obliged to disclose personal information relating to you to third parties, for example, in order to conform to any requirements of law or to comply with any legal process, as well as to protect and defend the rights of property of the CashPazz, our licensors and/or our other customers.
Telephone calls may be monitored or recorded to ensure that we carry out your instructions correctly and to help improve the quality of our service and in the interests of security.
Seasonal 150% Investment Plans and Returns
Seasonal investment packs are no time fixed investments bundle to help CashPazz users to earn quick cashflow to support the season’s spendings in order to make CashPazz a more caring investment platform during holidays and celebrations. Such as Xmas, New Year, Independents, Easther and so on.
How it works – Investors in this category were not guanranteed to be paid more than 150% of the investment amount. return rates are calculated base on number of investors and invested amount, money is used by CashPazz to invest and share total profits amount amoung participated investors which might be up to 150% as stated or fewer incase, if participants are not large in numbers or experiencing flops during investment merging. Whichever way, the good news is you are assured to be paid in full with interest before stipulated date.
Condition – To be an eligible investor (Cash-Giver) in any seasonal investment categories, you must have referred not less than three (3) participants via your referrer wallet, and referred persons must have invested into any of CashPazz investment plans.
CashPazz is committed to the provision of service of the highest quality for its members. In the event however, that a member is dissatisfied with any aspect of this service, we will endeavour to resolve any complaint as effectively and efficiently as possible. CashPazz is also a member of the Financial Ombudsman Service, an organisation which has been set up by law to help settle individual disputes between consumers and financial firms.
Further information on the Financial Ombudsman Service can be found here.
Caution, Sanctions and Deductions
There are cautions, as well as strict sanctions which serves as rules and guildlines for both Cash-Users and Cash-Givers; following santions applies to any member who violates CashPazz terms and conditions accordingly:
Multiple Registration: It is highly prohibited to register on CashPazz twice on in multiple times with relevant photo, email, phone number or bank details. Such act is considered as a scam and all relevant account, amount or wallet will be rendered invalid, forfeited and marked to be suspended.
Ongoing Investment Failure: We solely advice and implore CashPazz participants not to start an investment or borrowing which they might not complete during processing; this act wastes other members ROI return time frame as well as forfeiting CashPazz peering transaction fees across participated countries which is unrefundable, to round it up many fraud activities has been traced to this act and we condemn it totally. Any user’s account that violates this section will be deleted, forfeited and suspended without review.
Financial Services Compensation Scheme
CashPazz is a member of the Financial Services Compensation Scheme (FSCS) which provides a safety net if a bank, building society or CashPazz should fail.
Further information on the scheme can be found here.