Are you considering a loan with Cash Converter Loans? Or perhaps you already have one, and you’re looking for further information about the company. Either way, we’ve compiled the most important, in-depth information about Cash Converter’s loan for you in this loan guide.

About – Who are Cash Converters Loans?

Cash Converters offers a range of loans of up to £1,000 pounds. They offer a repayment period of up to 6 months and applications are processed 24 hours a day, seven days a week. The company is best known for being a leading second-hand goods chain with branches worldwide

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How do I apply for a Cash Converter loan?

To apply for a Cash Converter loan, you’ll need to contact them, which you can do on their website or in a local branch.

Will I be accepted for a Cash Converter loan? 

Cash Converter will carry out an affordability assessment to make sure you are able to pay back the loan.

Information correct as of 20/04/21 (CashConverter)

Cash Converter Reviews

It’s important to see how other customers have rated their experience with Cash Converter. Take a look at their up-to-date reviews here.

Trustpilot review

Information correct as of 14/06/21 (Trustpilot)

How to complain about Cash Converter?

Should you need to make a complaint about Cash Converter, then you can use the details below to either write to them or call them.

Rob Hammond
Innovation House
Aston Lane South
Whitehouse Industrial Estate
Runcorn
Cheshire
WA7 3FY
UNITED KINGDOM
+44 01928737424
rob.hammond@cashconverters.com

If Cash Converter does not respond to your complaint then you should contact the Financial Ombudsman Service. They might be able to handle your complaint.

Information correct as of 01/04/21 (FCA)

New regulations for Cash Converter Loans

Until recently the lending industry was worth over £2billion. The Financial Conduct Authority decided that the time had come to take action. They first looked at lending institutions and next created a new set of regulations to protect borrowers.

So, what are these regulations?

1) Affordability regulation

The lender must ensure that the loan is affordable. This is the regulation that put Wonga out of business and also the one that has allowed thousands of borrowers like you put in a claim for a refund.

The regulation states that you should be able to make the loan repayments as well as pay for other aspects of your life such as rent, bills, cards and food.

Read what to do if you can’t pay back your debt.

2) Interests and fees regulation

Another thing that the FCA noticed was that lenders would often charge borrowers excessive interest and fees. They remedied this by putting a cap on fees and interest. The limits were, (a) a 0.8% cost cap – this includes all interest and fees. (b) a £15 cap on default fees. (c) 100% complete cost cap, which means you should never have to pay more than double what you borrowed.

3) Continue Payment Authority regulation

You’ll find with most lenders that they make you agree to them using Continuous Payment Authority (CPA). This gives them permission to go into your bank to take money.

The new regulation around CPA come in two parts. (a) if Cash Converter Loans try to take money via CPA  twice and fail, then they cannot try again. (b) the amount taken must be the full amount of the payment due. They are only allowed to take a partial payment if you have agreed it with them by agreeing on a temporary payment plan for example.

Company information:

After researching Companies House and their website, we found the following information about Cash Converter:

Date of incorporation: 30 August 1995
Company status: Active
Company number: 03096334
Company type: Public limited Company
Website: https://www.cashconverters.co.uk/
Address: Innovation House Aston Lane South, Whitehouse Industrial Estate, Runcorn, Cheshire, WA7 3FY
Opening Hours: 
Varies by Story
Phone number: +4401928737424

Information correct as of 01/04/21 (Companies House)

FCA registration:

The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the UK. 

FCA regulated: Yes
FCA status: Authorised
FCA reference number: 656489
Trading names: 
cash converters / www.cashconverters.co.uk
Place of business: 
Innovation House
Aston Lane South
Whitehouse Industrial Estate
Runcorn
Cheshire
WA7 3FY
UNITED KINGDOM

Information correct as of 01/04/21 (FCA)

Data protection registration:

Data protection registration means that this company is registered with ICO, the UK’s independent authority set up to uphold information rights in the public interest. The privacy of your data will be protected.

Registration No: Z5882660
Data controller: Cash Converters (UK) Limited
Address:
Innovation House
Aston Lane South
Whitehouse Industrial Estate
Runcorn
Cheshire
WA7 3FY

Information correct as of 01/04/21 (ICO register)

Where are Cash Converter located?

You may want to speak with Cash Converter in person. If you do, it’s important to find a store near your own address. Take a look at their store locator here.

Address:
Innovation House
Aston Lane South
Whitehouse Industrial Estate
Runcorn
Cheshire
WA7 3FY
UNITED KINGDOM

References

CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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