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Who are CashGenie?

CashGenie are a trading name of Ariste Holding, a London based company that has been in operation since 2009.

What kind of loans did they offer? (stopped offering loans)

CashGenie offer payday loans only. Their payday loans are for a minimum of 5 days and up to 35 days. They are designed to be repaid with a single payment that covers the amount owed, interest and charges.
In some cases, this can be rolled over, for a maximum of three rollovers. A fresh affordability assessment will be carried out each time.

How much could you apply for?

You can apply for amounts between £75 and £500 for up to 35 days.

How quickly could they supply the loan?

There are two options here. Their default option is a BACs transfer, which takes up to 3 working days. If you prefer, you can arrange for the cash to be transferred in 1 hour using their fast transfer option. This costs £20 extra, which is deducted from your loan amount.

What did they charge?

The charge for a payday loan with CashGenie is £30 per £100 for 30 days. This gives them an annual percentage rate of 2986%. Repayment is designed to occur on your payday using continual payment authority.

How did their charges work?

The charges are a flat rate per month, so whether you are paid ten days after you take out the loan or a full month after, you will repay the same amount. You can still repay early, but you will not repay any less by doing so. If you rollover to another month, you will be charged 30% on the amount outstanding. There are no extra application charges.

What optional charges did they have?

The only optional charge is the fast repayment charge, to allow you to receive the cash within an hour rather than within three days.

Did they charge penalties?

Yes, although they recommend contacting them if you are having difficulty repaying, as these may be able to be avoided.
They charge a £15 late payment fee for each repayment missed after 1 day. After 7 days, they will contact you by letter, which will incur a further charge of £12. Over a period of 62 days, they may send up to 4 letters in total. While this is happening, interest will continue to be earned on the loan, at the same rate it was borrowed at. They may also charge £30 if they are charged a chargeback fee by your bank and £45 is you move address without telling them and they have to trace you.

Did they have TV adverts?

They didn't have any TV adverts as far as we know, although they did sponsor some mixed martial arts events. They also supported Starlight Children’s Foundation.

Licence details

  • Registered Number: 07005622
  • OFT license number: 0630949.
  • Data Protection Act License Number: Z195632X
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APR

We work with a number of lenders and their APRs vary. This example shows the average figures.

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