The answer is simple – cash allows you to maintain a high level of privacy when stored and settled. Whereas the movement of electronic money is constantly under the “cap” of domestic operating banks and operators of international payment systems, which they use. At the same time, privacy requirements for storing money and for financial calculations are often a matter of necessity.
Why do you need privacy when moving money? It all depends on the specific situation. Each of us can have his or her own unique answer to the question. Cash loan is one of the main ways of securing such financial confidentiality at the level of microloans.
interaction of cash and electronic money
the modern financial system in the sphere of servicing of individuals is arranged in such a way that in parallel with the cash in circulation there is their completely “equilibrium” electronic analogue. Electronic money is well-known to us all for electronic bank cards, which almost every one of us has today. It is also intuitive for each of us that electronic and cash are complete analogues that rotate in a single payment system. Thus, thanks to the widespread ATMs and banking terminals, they can easily switch from one form to another: electronic money can easily become cash and cash – electronic.
Thus, it can be stated that the line between electronic and cash is very thin. For example, if you need to take a small cash loan (within 5-10 thousand, maximum 20 thousand dollars), you can quite get it by transferring to an electronic bank card, which you can simply transfer into cash at the nearest ATM. Often a cash transfer from a card can be done at the same branch of the bank where you have just drawn up and received a credit card. Therefore, today, when ATMs are located literally on every street of a big city, cash loan and credit card, with a small amount of bank loan – for the borrower is almost completely identical.
Where can I get a cash loan in principle?
Based on the above logic, a cash loan can be obtained from any financial institution that specializes in servicing individuals. The following financial institutions can be safely attributed to:
- multifunctional network (retail) banks;
- “Internet” micro-financial institutions (MFIs);
- classic pawnshops.
- specialized financial companies.
Upon the authorization of the loan, the funds can be obtained directly at the cash desk of the bank branch, at the window at the pawnshop clerk, at the office of the financial company. Or get credit by transferring to a bank card, transferring them to cash via an ATM.
But there are a number of pitfalls in this place. First, a large amount of cash (for example, calculated in the hundreds of thousands of dollars), at the bank’s cash desk or pawnshop, is likely not to be given to you (because it is not available or will serve other customers). And a larger amount credited to a credit card will not be so easy and not as quick to cash in via an ATM. After all, as it is known, bank cards provide daily limits of amounts for cash transfer. So what to do then?
How much can I pay in cash ?
As you know, the higher the amount of money, the more problematic it is to receive it in cash. If it is a sum of 10 – 15 thousand dollars, well, a maximum of 20 thousand dollars, cash notes will be found at the cash desk of any branch of the bank or pawnshop. As a last resort, you can easily transfer this amount into cash from a credit card at your nearest ATM.
And if the required amount of cash loan is 100, 200, 300 thousand USD? For example, MFIs do not operate such amounts in principle. In almost any bank or pawn shop, clerks will have their bones lying, but will insist on crediting a large amount of credit on an electronic credit card. And of course, in such a case it is not possible to transfer such a large amount of electronic money into cash at one time (in one day) in ATMs (we remember the limits for cash transfer).
but if there is an urgent need, then where can a large amount of cash be borrowed? This non-trivial task is easily handled by specialized financial companies that lend to individuals secured by real estate. It is in such a company that you can get a cash loan at once for a large amount.
Why Specialized Finance Companies, Not Somewhere Elsewhere? Because issuing large cash loans is one side of their narrow specialization, a factor in which they maintain their competitiveness in the financial market.
How can I get a large cash loan?
financial companies that specialize in lending to individuals secured by real estate, work on principles that combine the rules of operation of network banks and “Internet” MFIs. Yes, you can find a suitable financial company, familiarize yourself with the proposed terms, apply for a loan (apply for a loan application) directly from your home or office, via the Internet. But then, for a short time (most likely during the current day), you should wait for the visit of the expert appraiser, to work with the documents and evaluate the mortgaged property.
If everything is in order with your documents and the mortgaged property and the issue of granting a large sum of credit has already been resolved in principle, you should discuss with the expert-appraiser the form of its issue: banknotes or bank transfer. If you decide to get a cash loan , then you should decide where to get the money. Possible options – at the office of the Finance Company, or with delivery by the company at your address.
Here are basically all the possible answers to the question of where you can get a cash loan . Need a small amount? Then we go to any financial institution – bank, pawnshop, MFI, take out a cash loan at the cashier or receive it with credit card, with further transfer through cash at an ATM. If you need a relatively large amount of cash, then the field of possible solutions is significantly narrowed. Specialized financial companies, which lend to individuals for large sums on the security of real estate, in this case is perhaps the best solution.