Wandoo is one of the microcredit companies that offers the first free loan without interest. A promotion that, on the other hand, is not strange to see because given the increasing competition in the sector, companies seek to differentiate themselves, something that Wandoo does not achieve with its conditions as they are similar to the vast majority.
Wandoo microcredits have as their main characteristic their flexibility, since it allows us to request extensions indefinitely for a maximum period of 11 months, their conditions being to be highlighted, since the rest of the mini-credits, although it admits the extension or postponement, only one is possible time.
The rest of the conditions with which Wandoo lends, amounts, terms, interests differ from the industry standard.
For this reason, on this page we are going to explain everything there is to know about Wandoo: what it is, how it works, what are its conditions, requirements as well as customer opinions.
Wandoo - Features and Conditions
|Financing type||Quick loans , mini-credits , loans without paperwork|
|Minimum and maximum quantity?||€ 50 - € 850|
|What is the minimum and maximum term?||5 - 30 days|
|Free first loan||Up to € 300 without interest|
|What interest do you charge?||29.40%, APR or APR of 2,115.69%|
|Do you ask for guarantees?||Not|
|Loan calculator and simulator||Too|
|Can I defer payments?||Yes|
|And cancel in advance?||Yes|
|Where is it ordered?||On-line|
|How long does it take||5 minutes but it depends|
|In what period does the money reach me||15 minutes, but it depends on the bank|
|What banks do you work with?||Banco Santander, ING Direct, Banco Popular, La Caixa, Bankinter and Sabadell.|
|Web page||Official Web|
CREDITSTAR: Analysis and Opinion
|Is my application rejected by the West African Loan Group?||Yes, but it depends|
|Do I need to have a payroll?||No, but it depends|
|Can I process with pension, self-employment or unemployment?||Too|
|Age range||20 - 70 years|
|Can I verify my details with Instantor?||Yes|
Advantages and disadvantages of Wandoo.es
+ Online application available 24/7
+ No travel, waiting or queues
+ Free first credit without interest up to 300 euros
+ I can defer payments as many times as you want with a maximum of 11 months
+ Interest rates within the average
+ Flexible term, between 7 and 30 days.
+ Immediate response
+ One-time payment instead of installments
Requirements to request credit in Wandoo
The requirements and conditions to be met to obtain a mini loan with this entity are basic: Be over 20 years old and under 70, resident in Spain, have a bank account and have a mobile phone number as well as an email.
How to apply for a loan on Wandoo
The Wandoo mini loan application process starts from the Wandoo website, below we explain the steps to follow:
1 - First, you enter the wandoo website and select the amount to request, which in the first loan must range between 50 and 300 euros along with the repayment period.
2 - Secondly, you will have to fill in the online contact form with the information requested.
3 - Next, the applicant must identify himself through his online banking using the Kontomatic system (similar to Instantor) and then receive a positive or negative response in relation to the granting of credit.
4 - Finally, and if we have a bank account in an entity that Wandoo also works with, the money is transferred in less than 15 minutes and can be enjoyed almost instantly. On the contrary, if this is not the case, the delay can reach 24 or 48 hours, which is what national transfers take between different banks.
As we have indicated previously, the first credits are free, at zero cost, therefore we only return the amount borrowed without charges of any kind.
After returning the first credit and if we want to request a second we can increase the amount up to 400 euros. As this process is repeated, the amount increases by 50 euros until reaching the maximum of 850 euros, since it is the limit that Wandoo grants to its customers.
Both interest, commissions and fees charged by Wandoo for the loan are reflected in the entity's simulator and calculator. The contract also details the particular conditions of the financing, accepting its terms for approval and signature.
How long does Wandoo take
After the approval of our request, the transfer is made in less than 15 minutes. If our bank matches that of the lenders, in less than 1 hour we will have the money in the bank account. But, if our bank is different, this process can take up to a maximum of 48 hours. If you wonder which banks it works with, we will give it to you below: Banco Santander, Sabadell, Banco Popular, ING Direct, La Caixa and Bankinter.
Wandoo With West African Loan Group
It is not possible, it does not accept clients who appear on delinquency lists such as West African Loan Group or Rai. In this case, if we are registered in a file, we must check the lists of companies that grant loans even if you are in the West African Loan Group (link)
Return the credit
The return must be made in a single payment upon the expiration date in the contract, likewise the repayment term varies from 7 to 30 days and is considered canceled at the time the debt is settled and Wandoo has the money at its disposal.
For this reason, when paying it is advisable to make a bank transfer and correctly identify the payment (enter the ID number and loan number).
In addition, if we choose the transfer as a payment method, we must take into account the delay that exists if it is made to another bank. For example, if the debt is due on the 30th, do not wait until that day to make the payment because maybe up to two days the money will not reach you with the delay it entails.
If this procedure is not complied with, the credit can be considered as not returned and consequently additional expenses for default are applied (1% daily on the unpaid amount with a maximum of 200% of the principal).
Thus, what happens with other mini-credits with similar characteristics, there is the option of requesting a postponement of the term of the credit. This extension must be done before the agreed payment term expires and can be extended for 7, 14 and 30 days.
The extension is also not free, it entails costs which can be calculated from the client area of the web or contact some of the Wandoo experts to inform us about it.
The particularity of Wandoo over other microcredit companies and that the difference is that the extension of the credit can be requested as many times as we want during a period of 11 months.
But, although this feature provides great flexibility in the event of unforeseen events and last minute emergencies, it should not be used as it is not free. Delaying payment means having to face extra costs over the amount initially foreseen, so it is not attractive. It is for this reason a temporary solution to which only to dip into when there is no other option.
Wandoo Finance Phone and Contact
To contact Wandoo we can use any of the channels shown below:
Call Wandoo's toll-free number, 91 714 66 20 during its customer service hours from 9 a.m. to 6 p.m. from Monday to Friday, send an email message to your email address, email@example.com s as well as formulate our query through your contact form available on your official website.
Get in touch through the Wandoo customer area once registered on your platform. For this, you will have to log in from the login that they enable on the front page and from there control our affairs with the brand.
The company to which Wandoo belongs is Wandoo Fínanse SLU NIF B87821823 at the following address, at Avda. Bruselas 6, Bajo C. 28108, Alcobendas, Madrid
Opinions about Wandoo
Here are some comments and opinions from Wandoo that reflect what their satisfied customers think, after an investigation, we have found that a large part of them are favorable:
Jacinto "Excellent, my first free credit up to 300 euros to be returned in 30 days, I think it's great"
Laura "I am a recurring customer, I usually go to them every time I need a small amount for small unforeseen events"
Sabrina "The request was very simple, also by phone they helped me to solve my doubts"
Roberto "I had a problem when it came to returning the money, I was able to postpone the payment for two months in a row, one that I do not get from other lenders instead"
Wandoo Opinion - Conclusion
Wandoo is a loan that provides conditions similar to those seen in the rest of the companies in the market except with small changes.
Its return period is the common one, up to 30 days and the interest conditions are normal.
However, the possibility of obtaining the free and interest-free loan on the first application makes it attractive, as well as the possibility of deferring the payment more than once for a maximum of 11 months, a particularity that distinguishes it from the rest.
Another of its characteristics is that it allows us to request a second loan while still having an active one, contrary to the usual.
Is Wandoo a site we can advise?
For the first loan, the answer is affirmative, but for the rest of the requests we must assess whether the interest and fees are the best.
In addition, that the amount in each request only increases from 50 to 50 euros is quite disappointing and that it does not seem to show confidence with its clients, since to get the 850 euros that they advertise as a limit, it will be necessary to have requested and returned 10 credits with them. And of course, taking into account that it is intended to make a specific use of them, it is not acceptable.
Even so, if we take into account its pros and cons as well as the opinions of its clients, our final assessment is positive.
Do you want a place to comment and share your experience with Wandoo? Here you have the space you are looking for, participate in our community, give your opinion, write your comment and tell us what you think about this entity that grants up to 300 euros free on your first loan, thus its main feature the possibility of deferring payments until 11 months.