Archive for the ‘Services’ Category

Cash Genie’s Refer a Friend Program

Monday, February 8th, 2010

Cash Genie refer a friend program

Refer a friend programs are available for almost everything these days. From referring a friend to a payday loan site to telling your mate about the World of Warcraft special offer price, merchants are always finding ways of rewarding their customers for being loyal. Obviously we could not offer a 10 day free trial period in an amazing world of adventure like the guys at blizzard can but we can offer our customers £10 off of their loan balance.

The simple criteria for the program, is that the customer referred has their loan deposited and makes payment successfully on the due date. Our criteria may seem strict but because of it we are able to have no limits on the amount of people our customers can refer. A customer of our can easily borrow £150 and refer enough people to pay off the loan in full and also receive an extra bonus in their bank from us too.

New customers can be referred to us through a simple email link (we can send the e-mails) or by the current member of us giving out their member id. Each member who accepts the terms and conditions will have their own stats centre to check up on the status of their referrals and will also receive an e-mail and text every time they have earned cash from a referral.

We have a refer a friend team here who are contactable on refer@cashgenie.co.uk for any questions.

Tags: , ,
Posted in Services | 19 Comments »

How does Cash Genie differ from its competitors?

Thursday, January 7th, 2010

The number of payday loan companies in the UK has been increasing ever since the industry was introduced from the United States. The successful industry has been expanding and is becoming more attractive to companies wishing to gain a slice of the online market. Because the market is becoming so competitive, companies are differentiating themselves to make them stand out from competitors and gain a competitive advantage. This includes a same day payment service, a refer a friend scheme, promoting high standards of customer service or simply by gaining a good reputation.

Cash Genie, the short term loan lender, has only been operating within the payday loan market for 7 months, however looks like an established lender looking to penetrate the industry and gain a high market share. The company itself is expanding rapidly, with its marketing techniques generating a high number of applications. The customer friendly approach is seen through its Twitter and Facebook pages bringing the company closer to its customers and researching exactly what the customer wants from a payday loan. The same day instant cash service allows customers to apply and receive the cash the same day, and compliments the ‘Responsible Lending’ policy the company adopts promoting transparency and excellent customer service. Cash Genie look to go that extra step to make customers more than satisfied with the service provided, an aspect which is missing in most payday loan companies at present.

Cash Genie has received good testimonials from its customers, as seen on the website, and is constantly updating its technical system and marketing techniques to increase leads and provide customers with an exceptional service.

Tags: , , , , , , , ,
Posted in Services | 21 Comments »

Cash Genie Christmas Cash

Tuesday, December 8th, 2009

It is beginning to feel a lot like Christmas! It’s that time of year again, Christmas is on the way and British shoppers are expected to spend around £30 billion on presents for friends and family. Many families, however, do not have the funds to pay for gifts at this time of year especially within the economic recession. Cash Genie, the short term loan lender, offers the perfect solution to customers unable to pay for presents when budgets are tight and pay dates seem so far away. The responsible lender provides short-term loans between £75 – £750 available to customers with jobs and who are able to pay back the loan at the end of the month.

Many companies pay staff before Christmas, allowing employees to have the funds in their bank to purchase presents in time before Christmas. Some paydays, however, fall after Christmas or on the last working day before, being the 24th! This creates obvious problems for shoppers and Cash Genie offers a simple solution to tie people over until Christmas and their next payday. The short-term loan lender allows customers to take out a loan, which is instantly approved and in customers’ accounts the same day as application, and pay it back on their payday after Christmas. This offer of a ‘mid-month payday’ can be used for emergency purposes and allows applicants to acquire cash instantly.

To apply for a short-term loan with Cash Genie, go to www.cashgenieloans.co.uk

Tags: , , , , , ,
Posted in Services | 68 Comments »

Cash Genie Speed of Service

Wednesday, December 2nd, 2009

Cash Genie UK, the short-term loan provider, is further promoting their speed of service. Cash Genie offers a same day service allowing customers to apply and receive cash the same day.

Cash Genie offers short-term loans to customers in the UK between £75 – £750. The company is based purely online, therefore the application is completed online by the customer and all processes by the company can be performed in real-time on the Internet. Customers are able to apply for a loan in the comfort of their own home and receive the loan amount in their account the same day. So customers at home can boil the kettle, watch tv, apply for a loan and have the money in their account by the time the cup of tea is finished! Recent research on the payday loans market illustrated that customers prioritise speed of service more than any other when taking out a loan.

But what makes Cash Genie’s service different to any other lender? Cash Genie ensures customers who apply for a short-term loan before 3:30pm and ask for a fast pay service, that the loan is transferred into their bank the same day. If the loan, in any way, does not reach client’s accounts by the end of the day then Cash Genie will refund the fast pay cost. The majority of loans are processed in minutes, and the money is transferred as fast as possible into customers’ accounts. The speed of this transaction is only limited to the speed of communication and processing of the client’s bank. If Cash Genie were to own a bank, then this process would be seconds rather than minutes and customer satisfaction would be further increased.

Because Cash Genie’s processing team are motivated by performance related pay, the speed of service is important to them as well as customers. Every time a customer receives a payment early or on time then so do the employees. This ensures excellent customer service and extremely happy customers at the end of the day. The company’s popularity is growing fast, meaning the team is expanding to further increase the speed of process. Cash Genie system analysts are constantly improving the system and discovering new ways to streamline the application process and ensure customers have money in their account as soon as possible.

Cash Genie attempts to make every customer, who takes out a short-term loan with them, happy with the service provided. Every Cash Genie customer has their own account manager who will tailor the service for each individual’s needs. Because the speed of service is a priority to customers, it is a priority to the Cash Genie team.

Tags: , , , ,
Posted in Services | 9 Comments »

The Mark-up on Short-term Loans

Wednesday, November 25th, 2009

Short term loans range from £75 – £750, with the typical interest being 30% for a 30 day loan. This means a borrowed loan for £100 will cost £130 at the end of the month, simply the cost of the service and the cost of borrowing. This interest rate has been scrutinised by consumers as being too high for this service, however when compared to the mark-up retailers place on other emergency or everyday services it may not be as high as it seems.

Cash Genie Mark-up vs Taxi Service Mark-up

Cash Genie, the short term loan provider, argues that their interest rate of 30% has been adopted because of their simple online paperless application process, quick payment of loan into customer’s accounts, responsible lending policy and good customer service. It is the lender’s best interest to offer these additional services to better compete within the market, which primarily does not compete on price. Cash Genie emphasises that the short term loan should be used for emergency purposes to keep customers tied over till payday. This can be compared to a taxi service; customers are not expected to use this service often and mainly use it in emergencies. A journey which would cost £5 to drive could cost up to £20 for a taxi service, with the mark-up in this case being 400%. Obviously there are some advantages of using a taxi service over driving yourself, however benefits are also gained by using a payday loan as an emergency means of gaining fast cash.

Everyday Services Mark-up

Retailers place varying mark-ups for everyday products and services, in some cases for example:

  • Retail high street fashion mark-up = 200-300%,
  • Jewellery mark-up = 100-200%
  • Furniture = average 60%
  • Bike = 35%
  • Consumers pay 80% more for farm goods in the shops than they would if they bought from farms direct (www.nfu.co.uk)

These mark-ups are unquestioned by consumers, because consumer knowledge of the cost of these products for businesses is scarce. In this sense, the short-term loan industry is transparent as consumers know how much they are getting, how much they have to pay for the loan which the loan provider is profiting on. The mark-up for a Cash Genie loan is less than the mark-up for the products listed here, however because of the transparency of the industry and the increased knowledge of consumers, payday loan lenders are being scrutinised for the interest charges.

The charges of a short term loan are shown upfront. It should be accepted by consumers that the mark-up rate for an instant cash advance within the industry is 30%. This is due to the quality of service provided (speed, ease of application, customer service, responsible lending policy), and emergency aspect of a short-term loan. This mark-up of this service should be compared to other services such as a taxi journey, or a haircut where the mark-up is over 100%.

Tags: , , , , , , , ,
Posted in Services | 99 Comments »

Student Short Term Loans Available

Monday, November 23rd, 2009

More criticism has been dished out to payday loan companies, targeting vulnerable students who have not yet received a student loan. Cash Genie, the short term loan provider, offers short term loans between £75 – £750 to students who are able to pay the loan back at the end of the month, in accordance with their ‘Responsible Lending’ policy.

Students are being targeted by so called payday loan companies, which offer easy credit with enormous interest payments. Student still await loan money, which they applied for over the summer. The BBC article at http://news.bbc.co.uk/1/hi/education/8352544.stm states that “Facing strong criticism from students, parents and politicians, the Student Loans Company promised greater efforts to tackle the delays and improve their service.” Payday loan companies have been seen to be taking advantage of this, targeting students with “aggressive marketing techniques” (http://news.bbc.co.uk/1/hi/uk/7661494.stm). However, the student loan market is a very small market for a payday loan company, with the majority of students in the UK unemployed because they are in full-time education.

Cash Genie, the short term loan lender, provides loans between £75 – £750 to be available to students with a job and who are likely to be able to pay back the loan. The company prides itself on its responsible lending policy, which incorporates promoting their transparent charges and customer selection service, only lending to students who are able to pay back the loan at the end of the month. Because of this service, many students have chosen to borrow from Cash Genie after hearing positive word of mouth and reading around the responsible lender.

Students who wish to find out more information regarding Cash Genie, can find out more by visiting more articles on this blog. Also, can apply for a instant cash advance with Cash Genie by visiting:

https://www.cashgenieloans.co.uk/members/application.php

Tags: , , , , , , ,
Posted in Services | 198 Comments »

Cash Genie Busts the Short-term Loan Lingo

Tuesday, November 3rd, 2009

AER. Sorry? APR. What?  Unsecured loan. Who? Where?  ACH. Cash Genie, the short-term loan provider, has introduced a ‘defining the jargon’ page to help consumers understand the technical jargon short-term loan lenders use in their business contracts.

In the short term loan industry it is hard to know what all lenders in the market are talking about when it comes to loan agreements and terms and conditions. Technical jargon is used to make the business relationship professional and to make statements clear to the point; however to the regular customer it is hard to understand. Many short-term loan lenders advertise a ‘Jargon buster’ to make it easier for customers to get their head round key terms. Cash Genie has recently made this addition to their website to further promote their responsible lending policy of being completely transparent to customers.

Jargon such as AER, APR and IFA are common abbreviations in loan professions, however to customers these can be hard to comprehend. When complex jargon appears in business to consumer contracts, customers will either panic and not complete the contract or sign it without understanding what the terms mean. The worst situation for companies, such as Cash Genie, is for customers to drop out at this stage in the application when phrases are not understood by the target audience. In order to counteract this problem Cash Genie have provided a direct link to a ‘Cash Genie: defining the Jargon’ page where customers can view all complicated names, abbreviations and terms to better understand the terms and conditions. Cash Genie have stated that “by better informing the customer and offering a transparent service in defining technical jargon, this will reduce the drop out rate when customers are signing the loan agreement online”. Cash Genie hopes this will increase sales of instant cash advances, which can be deposited in customer’s accounts the same day as application.

Cash Genie prides itself in its responsible lending policy. By offering a transparent service, trust between customer and company will increase and sales will increase. In-turn, this promotes good practice in the short-term loan market creating a competitive advantage for the company and good word-of-mouth advertising. The ‘defining the jargon’ page is another step in promoting this responsible lending policy, this page can be found at:

http://www.cashgenieloans.co.uk/jargon.php

Tags: , , , , ,
Posted in Services | 38 Comments »

Cash Genie launches new Affiliate program

Monday, October 19th, 2009

Cash Genie, the short term loan provider, has recently launched a new Affiliate program. This means that Cash Genie is offering other businesses the chance to earn high amounts of commission through advertising the Cash Genie brand and diverting quality traffic to the website.

Because Cash Genie is relatively new to the market, the database is still relatively small compared to other UK lenders, but growing fast. This means the company is able to accept more applicants for short term loans, and will possess less duplicate applications.

Cash Genie’s new software system allows the process of high volumes of traffic and means each affiliate can receive instant feedback on the quality leads. Unlike other short-term loan lenders, Cash Genie will pay for each accepted application referred to the site instead of each one deposited, indicating each affiliate will get a higher amount of commission for the amount of leads sent to the site. The program is also flexible depending on each client so Cash Genie are happy to adapt to suit the needs of every affiliate.

Cash Genie encourages the use of e-mail shots to affiliate’s databases as the highly efficient team are able to handle large volumes of leads coming through quickly for short term loans. Because the Cash Genie is a responsible lender, the company provides a trial period which allows affiliates to run on the program for a trial, to  prove how well Cash Genie performs. The affiliate will be credited for all leads generated in this trial period.

If you are interested in this new and exciting opportunity do not hesitate to contact us on:

s.peters@cashgenie.co.uk

Head of Affiliate programme

To find out more about Cash Genie, its short term loans, what customers say about the company or its responsible lending policy, visit the website at:

http://www.cashgenieloans.co.uk/

Tags: , , , , , ,
Posted in Services | 54 Comments »