• Editor's rating
  • 4 star rating
  • 80%
  • Paydayrelay
  • Review by:
  • Posted at:
  • Last modified: 6th February 2019

You need an urgent money loan and you cannot wait days or weeks. You do not want to pass the filter of a bank, since you know that you will have to wait a long time so that finally you can not be granted the microloan you need urgently. Is there an alternative to bank loans that is reliable? Yes, there is.

Thanks to the evolution of financial products, credit institutions such as Paydayrelay have been born, which grant mini-loans to individuals quickly and without waiting. The procedures of these entities are reduced by operating directly online, which makes the approval or denial of your application very fast.

The fundamental advantage of this company is that it also operates with the Cash Converter network of stores. This makes it easier for you not to have to wait to receive the money in your account, since you also have the option of going to any physical store and collecting your money personally. This also offers the security of dealing with people rather than online platforms if this is an issue that concerns you at any given time.

What Paydayrelay offers

Fast money concession from € 50 to € 300, if it is your first time. After requesting your second mini-credit, you can request up to 500 us dollars.

The repayment terms are a maximum of 30 days and a minimum of 5. The shorter the term chosen to repay your loan, the lower the interest to be paid.

How do I apply for my microcredit online

You just have to enter their website Paydayrelay.es and choose the amount of money you want and the term to make the return.

The next step will be to verify your identity and present the supporting documentation.

Finally, you just have to wait to receive the money in your bank account or go to a Cash Converter store to receive your loan in hand.

The good thing about this type of online loan is the speed and comfort of asking for your money without leaving your home. However, if you have any questions about the process, you have a help tab at your disposal.

Requirements and documentation to request a mini-credit

If something characterizes fast money finance companies, it is the little paperwork and the flexibility of the conditions that you must meet to apply. In the case of Paydayrelay, in order to access a quick credit you will have to meet the following points:

  • Be of legal age and not exceed 70 years of age. The documentation you will need to prove this requirement is a legible photocopy of your NIE or DNI.
  • Be a Spanish resident and have a bank account in United States , of which you are the holder. You will have to attach a bank receipt showing your account number and the name of the holder.
  • Demonstrable monthly income: You do not need a payroll but you will have to justify a recurring income (unemployment benefit, retirement, pension etc.). With a receipt or bank statement, where your income is reflected, it will be enough.

What is the interest on Paydayrelay credits?

The fees or expenses associated with Paydayrelay.es credits have an APR of 3.75%. These interests are annual, so these expenses are lower since the maximum return is 30 days.

Imagine that you need an injection of money of € 300.00 to cover your children's school expenses or overcome the cost of January. You receive the money in your account or by hand, and after a month you will have to return the 300 us dollars requested along with the interest, which would amount to 105 us dollars. Surely you see it that way more clearly than calculating percentages.

What happens if I cannot pay my loan on the indicated date?

You will be able to request an extension in case you cannot pay the borrowed money. However, this has an associated cost of 21% of the requested amount.

Returning to the previous example, if you request an extension in the return of the microcredit of 300s us dollars, you will have to add € 63.00 more. If the irregularity continues, a daily cost of 1.4% per day will be added (4.2 US dollars for each day of late payment, following the example).

As we always recommend in Addamo Credit , it is best to repay the mini-loan on the agreed date. In this way, you will not pay more for your credit.

What do customers think of Paydayrelay?

This is the summary of the opinions collected from more than 50 Paydayrelay customers. In general these points stand out:

That it is a member of the Spanish association of microcredits (AEMIP) and that it has the seal of trust online are two values ​​highlighted by its users. When hiring a financial product it is very important to have references of its credibility and service.

The fact of being able to have the money immediately through a physical business is another positive factor. You can wait to receive the money at the bank, but if it is really urgent to be able to collect it physically it gives you peace of mind.

At all times you know what you are going to pay for your money, the repayment time and the conditions of the microloan. There is no fine print, no trick or cardboard. Users who requested a credit on Paydayrelay have a high level of satisfaction with the information received upon hiring.

Financial entities that grant microcredits in United States : Here you can find all the information about companies that grant loans to individuals online in United States. All of them are trusted companies that have been operating for several years. None of these companies requires a requirement for houses or mortgages, at Addamo Credit we do not recommend lenders of this type.

Free credits without interest : Of course, this is considered the best option if you are going to request a one-time loan. There are several companies that offer microcredits at 0% of expenses and interests. Check where you can ask for free money saving commissions.

Fast online personal loans : If you are looking for a loan of a higher amount, we recommend that you see all the options that you have available on the internet.

Loans for people who appear in Credit Checker : Maybe you find yourself in this situation and you are tired of banks not giving you credit. Here you can find those companies for which the delinquent lists are not a problem from the start.

Online credit cards to gain liquidity : Other allies when it comes to having income to overcome some economic downturn are credit cards. These cards allow you to have money quickly when you need it and make returns month by month.

Credits without payroll or endorsement : If what you are looking for are companies that grant loans without great requirements, we invite you to consult all the information. You can verify that for online loans it is not necessary to get endorsed or present a payroll.

Paydayrelay overview

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