With the technological advances of recent years, many financial companies have taken advantage of this latest technology, incorporating it in their sector and more specifically in granting loans. After the 2008 crisis where the banking tap was closed, lenders and private equity entities saw the opportunity to capture a part of the market through their online loans. Joymoney represents one of these companies because it offers a service that conventional banks They do not offer, online mini-loans with an interest of 1% daily. They also launch new offers in this competitive market for new clients loans.
And although Joymoney is recent (founded in July 2019) it works in a similar way to other companies with similar characteristics.
Thanks to online microcredits we can start the credit application without paperwork by offering loans to individuals whose financial profile disables them from accessing the bank.
These applicants are looking for immediate but flexible solutions to meet the payment. Among the features of Joymoney that accepts payment extensions, you can accept West African Loan Group and your immediate response, in just a few minutes.
Joymoney - Features
|Financing type||Quick loans , mini-credits , loans without paperwork|
|Minimum and maximum quantity?||€ 50 - € 800|
|What is the minimum and maximum term?||5 days to 30 days|
|Free first loan||Not|
|What interest do you charge?||3112.64%|
|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|
|In what period does the money reach me||15 minutes, but it depends on the bank|
|What banks do you work with?||Consult|
|Web page||Official Web|
JOYMONEY: 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||18 - 65 years|
|Can I verify my details with Instantor?||Yes|
Joymoney lends with conditions and characteristics within the average, that is, it does not offer any particularity different from the rest of the micro-loan companies in Spain. Here are some of them:
No endorsement or guarantor
Response in 15 minutes
Possibility of extension of the term in case of not being able to face the payment on time.
Joymoney is therefore a new formula that allows us to apply for loans online. Similar to other alternatives that we already know, it allows us to request mini-loans quickly and easily. That is why Joymoney offers the same advantages and disadvantages for those users looking to sign a short-term loan online.
Requirements to request a loan with Joymoney
The conditions to be met to enjoy Joy Money online loans are as follows: Be of legal age, resident in Spain, have a bank account and have recurring income.
Meeting these requirements does not ensure that Joy Money will then accept our application. In fact, there are several reasons why you can be denied, for example: Errors during the application, carrying out the process through a program that hides the IP, having a bad financial history or delinquent loans.
Our advice is that in addition the correct information in the form to expedite the process without delay that affect our need.
Joy Money accepts West African Loan Group
Joy Money as a member attached to the list of associates of the West African Loan Group verifies and analyzes your financial solvency but in no case uses it as a decisive factor to approve or reject an application.
Although if you check the presence of our name in the files, in practice the approval or rejection decision depends on an algorithm which takes into account multiple variables and factors, even in West African Loan Group only one of them.
Therefore, if we have a good economic and financial situation but we are in the registry, depending on the nature of the debt and the amount for which we are included, they can accept us or not.
For example, if our debt is 50 euros by phone, it is most likely that you ignore our presence on the list. Therefore, it is advisable during the credit application to explain to Joy Money the reason for our debt.
In its legal notices, it specifies that it does not give details of why it is denying the loan application, which is why the presence of West African Loan Group, although if it influences it, it will not be the only parameter that it will consider.
Loan application with Joymoney
The process to request a loan with Joymoney is similar to that of other entities, we can see it below:
1 - First you have to enter the Joymoney website and select the amount to request and the return period to return the loan.
2 - Secondly, we have to fill in a form with our personal information and receive a code via SMS that puts the request into action.
3 - Finally and after approval we receive the money in our bank account in less than 15 minutes.
How much money does Joymoney lend
Depending on whether or not we are new customers, the amount we can get varies. Joymoney has a customer loyalty program that allows us to request amounts which are increased with each new request as we return the previous ones.
In this way, in the first application it is possible to request loans that range between € 50 and € 300.
After returning the first credit in a timely manner, the limit of money to be requested in successive requests is increased as we see below:
Second loan: from 50 to 450 euros
Third request: from 50 to 600 euros
Fourth request: from 50 to 800 euros
Therefore, with each new request, the amount to be requested increases due to the greater confidence that the lender has with us.
Another advantage is that once registered, in the following applications it will not be necessary to fill in our personal data again, it will be enough to enter the customer area and choose the amount and term of the new loan and click on "Send".
Also keep in mind that Joy Money may reject our loan application for any reason.
The fact that we have applied for and obtained a loan before does not guarantee the acceptance of the next loan application. Joy Money may reject our request in the following cases:
If we have another active loan application
If we have a loan still in progress that has not been canceled
In case of delay, default or non-payment of a credit that we have not returned
Why choose Joymoney
Joymoney is one of the most effective, fast, secure and transparent solutions to get urgent money in Spain. Constituted as a 100% digital platform, it allows customers to contract their products remotely with just a couple of clicks.
To contract the Joymoney loan, you just have to follow the instructions set by the lender, meet the basic requirements and complete the form.
Afterwards, it will be necessary to go through a verification process using financial analysis tools such as Instantor that respond immediately. It does not matter from where we make the request as long as we are in Spain, available at any time and day of the year.
In addition, Joymoney does not review our credit history, favorable conditions in granting loans.
The company's mission is to make the loan application a simple, fast and comfortable process that allows clients to save time by avoiding the slow and cumbersome procedures of the traditional banking system.
For this reason, your loans provide many facilities, make advance payments and save interest, request an extension, choose a new payment term that suits us whenever it is requested.
Repay the loan
Making the return of the microcredit on the established payment date brings us benefits in the following requests. Not only the conditions will be better but also the deadlines.
At the time of making the debt repayment effective, we can choose between any of the following payment methods: Bank transfer, card payment, payment through the client area or payment at the window.
Joy Money admits the possibility of requesting an extension and thus deferring the payment in 7,14, 21 or 30 days. The cost of this service depends on the amount deferred and the duration you choose. It can be requested when at the expiration date we find it difficult to pay the debt due to unforeseen events, emergencies and unexpected situations.
It is reliable Joy Money
The brand to which it belongs is IT Smart Fnace, a company that emerged in 2014 in Russia and which to date has granted more than 100,000 loans worth more than 12 million euros.
One of the statistics that stands out the most is that 60% of its clients repeat at the entity, a sign that its users once again trust the lender to cover their financial needs.
Not only because they can benefit from a lower rate, likewise both individuals and companies can request a quick loan.
This group demonstrates great reliability through the transparency with which it works. The entity details the conditions of its financial products before signing and also in the contract.
Even so, every borrower is obliged to read and review the contract and in case of doubts consult an expert. The response time for users in Joy Money is 10 minutes if you submit your request during business hours.
For more information, they contact the client directly by email or phone. If we want to check the status of our loan, it can be viewed from the customer area on the Joy Money website.
To check and verify information, you receive SMS to the registered mobile phone along with a code that must be completed to complete the secure process which ends with the attachment of our identity document.
Joy Money Contact
On the official Joy Money page you will find all the information to trust with the lender in addition to the legal support with which it has the entity.
There also appear the contractual conditions, terms and conditions of their contracts which clients can review to be sure of what they sign.
If you have any questions, you can contact them through the following ways:
Call the free phone number of Joy Money, 900 525 650 during its customer service hours from 9 a.m. to 9 p.m. Monday to Friday, while Saturdays and Sundays from 11 a.m. to 8 p.m.
Send a message to your email, to the following email address email@example.com
Formulate the query from the online form available on the website.
We can go to where Joy Money SL has its physical office, Calle Aribau 195, 3 E, CP 08021, Barcelona, Spain.
If we have already registered on your portal, the procedures can be done from the user area or client area, we will explain it below.
Joy Money Client Area: Personal Area
After the first credit, from the "Login" section, being the login that is enabled on the front page, we can enter and from there control our relationship with the lender: Update personal data, request extensions, request new loans, make payments, ask questions and resolve doubts.
To request new credits we use the simulator or calculator, we indicate the amount we want together with the term to make the payment and click on “Confirm your loan”. In a few minutes we have an answer by text message or email with the confirmation with the accepted answer.
Joy Money reviews
Sara "Your website has a very simple, intuitive and understandable user interface, which facilitates navigation"
Carol "The limit of the first credit up to 300 euros seems very low, until I can reach € 800 I have to ask for 3 more and also I did not suffer any delay"
Luis "I had doubts about how to request mini-credits, he put me in contact with their customer service by phone and they explained everything to me"
Jesus "In my case, instead of 30 days, I put it back in a week, fair interest that can be paid, that's why I recommend it"
Monica "I turn to them when I need liquidity as quickly as possible, they have helped me other times, I trust them"
Joy Money is a new entity with a presence in Spain as of 2019 that grants fast online loans of up to € 800 to be repaid in 30 days. However, it does not have special characteristics that differ from the rest of the micro-loan companies in the market.
It does not offer the first free, nor does it always support the West African Loan Group, nor are they characterized by offering economic interests and flexible terms. In fact, its average interest stands at 3,112.64% APR and the term is the usual one, up to 30 days.
For this reason, although we think it can be a good solution to extreme money needs, we think that there are better alternatives such as: Vivus, Moneyman, Lunacredit
Everything there is to know about Joy Money is explained on this page, which is, how it works, conditions, requirements that undoubtedly help you make your decision.