Yea kind of, they take a 5% trasnaction fee, the rest is interest free for the agreement term, but im sure there will be fees for when that term ends and there is money still owed.
What they do is give you a portion of your pay before payday, which is great data, then you pay it back over 4 payday cycles. Charge you a 5% transaction fee, which I believe is added to the amount you request. lol. I think ZIP maybe a party to this business, tech wise but not sure yet. I dont really want to test this product out, so wont be signing up. This is probably the only payday loan product I disagree with, its fine to make money but I can see a lot of people struggling to pay back hundreds taken out each pay instead of $50 or less.
NOV Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
