Cash in a Wink might have a cute name, but does that mean you should cough up your personal and banking details?
The first thing that we spotted about this lender is that they don’t have a secure page for their application form. They expect you to put down all of your personal information including your name, address, birthdate, SSN, and contact information, and then go a step further and enter your bank account number, your bank’s name, and your banking information. Why not just tie a bow on it and give it to a hacker that wants to steal your identity?
Getting a secure server is cheap and easy for webmasters, so there’s no excuse for the breach of security. Check your email, check your Facebook, you’ll see that it’s all secure and starts with https in the address bar, or has some other indication that it’s secure. There is no such security at Cash in a Wink.
Cash in a Wink Review – Should You Borrow from Them?
What most people want to know when they look for a Cash in a Wink review is whether or not you should go with them as your payday lender. Right off the bat we’d have to say no, because they don’t meet simple requirements like a secure server. Lenders can be effectively grouped into two sides: those that have a secure application, and those that don’t. Lenders that do it the right way have the whole site encrypted. Why not? It’s not expensive or complicated.
Hope your financial crisis is $400 or less because that’s all you can get on your first loan. This is much smaller than many other lenders, and it really defeats the point of getting the cash you need, unless it happens to be a small crisis. At this point you could just ask your family and friends rather than pay $120 to a faceless lender for borrowing the money for just two weeks. At other lenders that have their business model set up a little better, your first loan is the same as all of your other loans, and your limit is determined by how much money you make per month.
As mentioned, they’ll charge you $120 to borrow $400 for just two weeks. If you go in person to a local lender you’ll pay far less than $100 for the same loan, in fact in most states you can expect to pay about half that or less. This is yet another reason not to go with them, and to choose a lender that more closely mimics what you’d get if you went locally. There are lenders that are based online, that have a secure site, that allow you to borrow more than $400 on your first loan, and that charge you less than $100 to do so. It’s worth the time to find them and go with them instead.
It’s three strikes and you’re out with us, and between not having a secure application, not letting you borrow enough to pay off most financial messes, and charging you more than most lenders do, we can safely say there’s rational reason to consider them further. Let us know if we missed something in the comments below.
As we’ve stated, there just isn’t much that Cash in a Wink offers that makes it seem like a good idea. Here are the major things they need to work on: Get their site on a secure server, at the very least host the application page on a secure server. Next, put their fees in line with nationwide standards as far as payday lending goes. Perhaps if they did more loans they could charge less per loan. And finally, raise your limits on the first loan so you can attract more business, since most people are in need of more than that to get through a jam.
One plus they do have is that they have a customer service phone number and regular business hours so you can call with any questions or complaints. The only problem is that there’s no reason to become a customer, so you won’t need to use their customer service.