Cash converters

cash converters

What does Cash Converters stand for?

Cash Converters International Limited (Cash Converters) is an ASX-listed Australian personal finance and secondhand retail company headquartered in Perth, Western Australia . Cash Converters was founded in Perth, Western Australia, in 1984 by Brian Cumins and a group of partners.

How does Cash Converters make money?

The second highest earnings contributor for Cash Converters is its corporate-owned store network, which generates income through the sale of second-hand goods, unsecured loans and secured pawnbroking loans.

Are Cash Converters products regulated in Australia?

Both these products are regulated by the National Consumer Credit Act 2009 (NCCP Act) and are available throughout the store network and online to Australian customers. The personal finance business is the largest contributor to Cash Converters total earnings, representing 53% of the Company’s EBITDA for the financial year 2021.

What types of services does Cash Converters provide?

The primary service provided by Cash Converters is personal finance in the form of small amount credit contracts (SACC) up to $2,000 and medium amount credit contracts (MACC) up to $5,000.

What does cash converters do for Finance?

Cash Converters loans overview Best known for its bright yellow high street pawn shops, Cash Converters offers a range of services for people in need of fast finance, and this includes short-term loans and cash advances.

What is the cash conversion cycle?

Cash conversion cycle (CCC) is a metric that expresses the length of time, in days, that it takes for a company to convert resources into cash flows.

What is the cash conversion ratio?

That is the profit after interest, tax, and amortization. Below is the cash conversion ratio formula. The resulting ratio from this calculation can be either a positive value or a negative value.

Is Cash Converters a broker or broker?

When it comes to short-term loans, Cash Converters is actually acting as a broker on behalf of Sunny (Elevate Credit International Limited). Cash Converters receives commission from Sunny for this but does not charge a fee to its customers for the service.

If approved, you will be asked to sign your electronic loan contract and the funds should reach your bank account within 15 minutes. Like most short-term loan providers, Cash Converters uses a Continuous Payment Authority to collect the money on your agreed repayment dates. How much does it cost?

Can cash converters provide a loan that cannot be repaid?

The short term lending sector is covered by some of the most stringent regulatory rules of any industry, and we aim to serve all of our customers well, and try to assist with solving the circumstance that brought them to Cash Converters. At Cash Converters, we have no interest in providing a loan that cannot be repaid.

Who are Cash Converters UK?

Cash Converters UK were the first to hold an online charity auction for the charity Dreams Come True . Cash Converters charge a current rate of interest of 33% (35% in Victoria, Australia) per month, making their annual interest over 350% on the principal loan.

Are there any rules in the Cash Converters network?

We have very strict rules in place across the Cash Converters network to ensure that our customers are looked after. All Cash Converters Personal Finance Centres are networked, which means that they’re all hooked up to a central processing centre.

Can you go into Cash Converters and buy your stuff back?

Can you go into cash converters and buy your stuff back if you have lost your ticket Present into the store Buys & Loans Department with your drivers licence. They will provide you with a stat dec to be signed at a chemist. You can then return and collect your goods.

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