Cheq is an initial of their type ‘Pay On need’ solution which allows working Aussies to access their future wages instantly.
The fintech enables customers access to as much as $200 and costs a fixed deal fee of 5% without any extra charges or interest, that is paid back via direct debit in your next future payday.
That charge is well underneath the yearly 52% to 1,000% that Cheq stated Aussies are increasingly being charged by numerous payday loan providers on comparable quantities.
CEO and co-founder Tarek Ayoub stated Cheq would like to expel lending that is payday assist the nearly 6 million Australians presently residing paycheck to paycheck. Continue reading “The fintech out to eliminate lending that is payday”