RICHCASH is an Instant Personal Loan Platform for individuals. One of the advantages of using this loan app is that the documentation is very minimal, and the entire process starting from registration to disbursement does not take more than 15 minutes. The application process is completely online, and on approval, the cash is immediately transferred to the bank account of the user.
The information about this loan app is provided by the owners of the app. Let us start this review by Examining the customer care service of this loan app
How to contact RICHCASH?
You can contact them at [email protected]
How does RICHCASH work?
1.Download the RICHCASH app from store
2.You just have to fill some basic information
3.Get your BVN ready
4.Instant assesment of your application.
Which cities are RICHCASH currently in?
RICHCASH is now only available in Lagos and Abuja.
What products does RICHCASH offer？
A portfolio of products with different maturities and amounts.
What is the basis for reviewing RICHCASH?
Based on the basic information you submitted. Among them, we need your BVN to verify your identity.
Why is my application not approved?
When we review a loan, we will review it from multiple dimensions. If your loan is not approved, this will not affect your credit. It may just be because your situation does not match our rules and credit model. If you are rejected by the review, we will let you know when you can apply again on the homepage.
Requirements to get the loan
Each user who applies for a personal loan will be required to submit three kinds of document:
a. Proof of Identity: We collect your BVN
b. Proof of Address.
c. Your selfie
Why didn’t I receive the audit result?
Because the review data takes a certain amount of time, the audit result will be given at the latest 1 working day. If it exceeds 1 working day, please contact customer service in time: [email protected]
Why is my bank account not verified?
Please confirm that your bank account number is yours. Please confirm that your bank account are not filled in incorrectly. Make sure your account is a savings account and not a fixed asset account, credit account or virtual account.
Why should I e-sign the Loan Agreement?
The Loan Agreement is a legally binding agreement that you need to sign before availing a Loan. The agreement states that once a loan is disbursed to you, you are liable to pay back the entire amount with interest and other charges as applicable within the maturity of the Loan.
How will I receive the loan?
When you fill out your personal information, we will ask you to provide your bank account and we will verify your account. After you sign the agreement, we will directly transfer the money into your bank account.
Why didn’t I receive the loan?
Your account may be incorrect. Please re-verify. If the account is correct, the loan delay is no more than 1 working day. If you have not received the payment after more than one working day, this may be due to the banking system. Please contact us at: [email protected]
I did not receive the loan on time, will the repayment date be recalculated?
We will start to calculate interest when the money is successfully transferred.
What is the amount of my repayment?
You can see your due amount on the app homepage and we will also notify you the repayment amount by sms.
When do I need to repay?
You can log in to the app to see your repayment date.
What happens if I don’t pay back on time?
We will charge a 3.5% penalty fee per day. Your Credit score will be updated as a defaulter with credit rating agencies which will make it difficult for you to take loans with any bank or financial institution in the future. Companies also check an individual’s credit score and may not offer you employment if your credit score is bad.
Can I repay in advance?
You can pay back in advance at any time. No prepayment fee.
Have difficulties to repay on time?
If you have difficulties to repay on time, you can contact our customer service to apply for an extension or you can pay partially
Can I extend the loan period?
Yes, you can contact our customer service and apply for loan extend service authorization.
How can I confirm that I have repaid successfully?
When you pay off, we will notify you by text message. At the same time, log in to the app to see the records you have repaid.
When I borrow again, do I still need to fill in my personal information?
You do not need to submit your information again, but if your information changes, please update your information in My Profile on app in time or contact customer service to change. In this regard, we will re-review.
I can not receive the verification code for registration or login.
Please make sure your mobile phone number is correct. If you still can’t receive the verification code, your phone number might be on the DND list, please contact the phone service provider or try the following methods. Text START to 2442 on your ETISALAT number that has stopped receiving Bulk SMS. Text ALLOW to 2442 on your MTN number that has stopped receiving Bulk SMS. Text CANCEL to 2442 on your GLO number that has stopped receiving Bulk SMS. Text ALLOW to 2442 on your AIRTEL number that has stopped receiving Bulk SMS.
Why can’t I apply for a higher amount?
You need to apply from the most basic products. According to your credit and repayment records, your credit will gradually accumulate and the amount will gradually increase.
Can I cancel my loan?
Once the loan application has been submitted, the loan can’t be cancelled.
Why am I not able to receive OTP SMS?
Mostly because your current phone service provider has turned on the DND mode for your number. You may contact your phone service provider to turn off the DND mode or click on the Voice OTP inside the RICHCASH and be aware of the incoming call
I don’t know my BVN. What do I do?
To find out your BVN you can dial *565*0#. Please note that this will only work if you are making the request from the same phone number that is currently linked to your bank account.
Why do you need permission to my mobile device?
RICHCASH uses data from your mobile device, including (but not limited to) location, contacts and notifications to provide you with the best possible loan offer. It’s an important part of our evaluation process and allows us to provide you with loans most suitable for you.
Why was my loan application rejected?
There are a few reasons behind loan application rejections. The most likely reason is that our system did not receive sufficient data to score your application. Please ensure you are signed into RICHCASH using your main mobile device, and also keep your data on while using the app in order for us to determine the best possible loan offer for you. Another possible reason is that you may not have shared all of the information required in the application or provided invalid details. However, there can be other reasons. As a responsible lender, we take steps to ensure we only extend credit to applicants who can afford it, so that our clients won’t become too indebted. It is possible that at this time, you don’t match the profile of individual we normally lend money to. Negative repayment patterns on previous obligations (including RICHCASH loans) can also limit access to credit, or make it more expensive to obtain. Whatever the situation, we recommend keeping the app installed and retrying in 1-2 months, as the criteria of these decisions are constantly refined.