Your cashpresso account is free of charge
Opening a cashpresso account and the account itself are always free of charge – there are no hidden costs or extra fees for maintenance or administration. Transferring and repaying money as well as receiving reminders will never result in any fees.
Opening an account
Changing a repayment
Terms for purchases at partner shops
Every single purchase at one of our cashpresso partner shops is 60 free of interest. Means, you have time to return goods and only pay for the things you actually take. If you return goods, the shop automatically repays the purchase price to your cashpresso account. Only if you finance goods over more than 2 months, our interest rate incure.
60 days without interest
60 days no interest rate when purchasing in our partner shops.
APR 14.99% per year
After the first 60 days we charge APR 14.99% per year on the outstanding amount.
Nominal interest 13.99% per year
The nominal interest rate per year comes to 13.99% of the outstanding amout.
Representative example according to §6a ABs. 4 PAngV (calculated with 60 days without interest): € 1,000 amount of purchase, 10 instalments à € 100, 1 instalment à € 44.39, total € 1,044.39, duration 11 months, 9.52% APR per year, 13.99% nominal interest per year.
Rates and terms for cashpresso credit line
If you are transferring money to a bank account or if you pay for purchases in shops, which are not cashpresso partner shops, we charge an interest rate of 14.99% per year on the open amount immediately.
Line of credit€ 1,500
Minimal Repayment per month5% of outstanding amount (at least € 20)
Nominal interest13.99% per year
APR14.99% per year
Terms of contract and Termination
The terms of your cashpresso credit line contract ist unlimited. As long as you do not terminate the contract, you can use cashpresso as often as you like. That means: within the credit line you can transfer and repay money as you wish – cashpresso is always at your fingertips. If you don’t need your cashpresso account any more, you can terminate at any time without any extra costs. The termination works easily through the settings tab within your cashpresso account. As soon as you terminate, the outstanding amount has to be repaid within 14 days.
|Terms of contract||unlimited|
|Termination||any time, no charge|
Fair, if something goes wrong
If you happen to miss your monthly payment, you will receive a text message and reminder free of charge 5 days after due date. This reminder leaves you with seven more days to make the pending payment. If we do not receive the money on time, we will send you another text message and a second late notice free of charge 15 days after due date. This reminder leaves you again with seven more days to make the pending payment. Please get in touch with us, if you can’t make the payment on time. We really want to avoid any legal actions. We are convinced that we will find a solution together.
|First late notice||no charge|
|Second late notice||no charge|
The options of repayment in detail
If you want to pay the lowest instalments possible, choose the repayment based on the minimum rate. Your rate changes with the currently open amount, but never falls below € 20. If you want to pay back, you can do this at any time without additional costs. A change from the minimum rate to a higher rate is of course possible at any time free of charge.You can decide for yourself: both the amount of the rate and the day when the rate is debited from your account, simply go to your cashpresso account.
At cashpresso, you can balance your account at any time by repaying the entire open amount. Once you select the option to balance the account, you have 14 days to transfer the amount. As soon as the amount is reached, you can access the whole frame at any time.
If you would like to pay a portion of the outstanding amount in addition to the monthly rate, you can do so at any time. A fee does not apply. You do not need to inform cashpresso in advance about the partial payment. As soon as the amount reaches us, it will automatically be credited to your cashpresso account.