Currency: Personal Loans and Credits up to € 5000!

By | June 5, 2018

If you were looking for information on the best financial institutions to contract fast loans without endorsement , you are in luck. Currency is one of the best options, and, here, we bring you a powerful review, where we analyze in depth everything you need to know about this entity. Let's go there!

What is Currency exactly?

Monedo is a company that is dedicated to offering this type of personal loans of small amounts (as Cofidis does (internal link to cofidis landing) ), for example, which may sound more familiar to you). However, the parent company of which it is a part is much larger.

This parent company is Kreditech Holding SSL GmbH , a large German company that is dedicated to providing credit and loan services of the most varied in many European and neighboring countries (such as Spain, Czech Republic, Poland, but also Mexico or Australia, among other countries).

It is a serious company that is supervised by all the competent authorities that regulate the sector in each of the countries in which it operates. In addition, there are a large number of opinions about this company circulating on the network, and the vast majority of them are very positive (we will talk about it in a section below).

And providing a service of such quality and with such good recognition is what has allowed them to obtain benefits of nothing more and nothing less than 65 million dollars between 2012 and 2014. Not bad, don't you think?

Currency… Is it reliable?

Monedo is not only reliable, but it is one of the financial entities dedicated to personal loans that has the most potential to offer you.

We have already said that it belongs to a large German company that operates in practically all of Europe and much of abroad, but that is not all: It also has a huge amount of positive opinions circulating on the net.

Both in specialized forums such as Rankia or eKomi and in blogs or other similar platforms, opinions always go in the same direction: It is a large company, which offers credits reasonably quickly and with good conditions.

Furthermore, in the case of Spain, Monedo is fully supervised by the competent authorities in this matter both in Spain and in the European Union, so that the entity's clients can rest easy.

What makes Monedo different?

Monedo has several characteristics that make the quality of its service superior to that of other financial institutions in the sector (and which also allows them to save costs and achieve better results at the end of the year). Let's see some of them:

  • Analysis via Big Data : A first point in favor of Monedo and that gives a good account of its differentiation with respect to other companies in the sector is that they use Big Data to analyze their customers in a few minutes. With the information available on the internet, they are able to form a better idea of ​​how solvent you can be, and from there, they offer you better or worse conditions on your credit (or, directly, they do not grant it, which can also happen ).
  • Speed : Another strong point is that the quick credits of Monedo, such as Monedo Now, can be requested in just a few minutes, with hardly having to fill out forms. In addition, once the information is in their hands, they take very little time to process that information and grant you (or not) the loan.
  • Security : Obviously, all companies must comply with the Data Protection Law and, in addition, offer a good encryption system on their website, so that the information you transmit through it cannot be hacked. Monedo meets these requirements perfectly.
  • Personalized customer service : Finally, it should be noted that Monedo offers a complete customer service, and it does so in a personalized way. Both in the moment before hiring, and at the time of having to consult questions about the loan you have contracted, or to talk about possible problems when returning it. You can always contact them.
  • Ethics : A very important point of Monedo, and of which they are especially proud, is that they offer ethical loans. What does this mean? That they do not offer loans to those who have destabilized or badly managed domestic finances. They would rather lose that business opportunity than make life more difficult for a person.

What credits does Monedo offer? Now currency

The only loan currently available in Monedo is Monedo Now , and it is a loan that ranges from € 750 to € 5000 . In addition, the terms to repay the loan range from 6 months to 36 (although this varies depending on the amount you have requested).

In addition, the minimum interest (APR) is 60.10%, while the maximum is 197.15%. That is to say, interest rates much higher than what we may be used to seeing in other entities in the sector.

Thus, if you request a loan of € 1000 to pay in a year , you will have to return, each month, a fee of 127.92, which means that, for a credit of € 1000, you will return € 1,535.07.

We are not going to fool ourselves: they are high interest rates, and there are other similar financial entities that offer lower interest rates on their personal loans (link to landing page of personal loans) . Now, we cannot deny the evidence that Monedo offers a very good service in every way, and that is paid.

For the rest, Monedo reserves the right to be able to charge some additional charges, such as the recovery of amounts granted or charges associated with the loan, such as administrative expenses or default interest.

However, it should be noted that, although they reserve that right, they rarely exercise it, because, if everything goes well, the loan is granted and repaid without major problems, and it is not necessary to reach any of these points.

To repay this loan, all you have to do is deposit the amount in question, month after month, in a Bankia account, of which the beneficiary is Kreditech Spain SL.

Default risks

It is convenient to be diligent with the payment of the installments, because Monedo does not grant any type of extension and places quite high surcharges on late payments . Thus, if you are late in your payments, you will face the following:

  • If 6 days pass, you will have to pay 2% of the total amount of the credit.
  • If 20 days pass, you will have to pay 5% of the total amount of the credit.
  • If 30 days pass, you will have to pay 13% of the total amount of the credit.

Requirements for currency loans

Now, let's move on to see what are the requirements that must be met in order to apply for a loan with Monedo . As you will see, they are not complicated requirements:

  1. Be of legal age : If you are under 18 years of age you will not be able to receive a Monedo loan (you see that this is not a particularly difficult point to meet).
  2. Being a natural person : This means that Currency loans are only offered to individuals, not to companies or companies of any kind.
  3. Citizenship : In order to receive a currency loan, it is essential that you are a Spanish citizen. This means that you must have a DNI or a NIE that proves it in this way. Of course, remember that, even if you are from another country, Kreditech (the parent company of which Monedo is part) has a presence in almost all of Europe, so, perhaps, it has a company operating in the country where you reside.
  4. Have a mobile phone : Monedo communicates with its customers through SMS, so it is essential that you have an active mobile phone to use with them.
  5. Be the owner of a Spanish bank account : Logically, if you are going to receive money, you must have your own bank account. Here it is important to highlight the fact that it is ESSENTIAL that you are the account holder. Otherwise, the loan will not be effective.

Ok… How do I request my credit with Currency?

To request your credit with Monedo , all you need is to follow the four steps on which its system is based . This process is as follows:

  1. Registration : To begin, you will have to register on the Monedo website and accept the General Conditions of the company. It is a simple but essential process, because everything is processed through the web.
  2. Simulator : After registration, you will have to enter the web with your account and start the loan simulator. You will have to select the amount of money you need and the amount you want to return each month.
  3. Form : Once the above is totally clear, it is time to fill in the form with your data. Here you will have to give your full name, your ID, address, current account number, a mobile number and an email. Afterwards, you will have to send a color copy of both sides of your DNI or NIE.
  4. Social networks : We have already said before that Monedo uses Big Data to analyze borrowers. You can choose whether or not to give this information (if you do not give it, the information will continue normally). Our recommendation is that, unless you spend the day saying that you are doing very badly financially and that you are a madman on social networks, link them.
  5. Consideration : After all of the above, Monedo will analyze your situation and assess whether or not to grant you the credit. This, which might seem like a long and tedious process, actually takes just a few minutes to complete. So you can rest easy.
  6. Concession : Finally, with all the above done, Monedo will send you the contract that you must sign. Normally, this contract has the conditions of quantities and terms of return that you have marked, but, on other occasions, they make you a counter offer. If you agree with the counter offer, you sign the contract… and voila!

Currency Reviews

Anyone would think that, in view of the high interest rates Monedo charges, the opinions would be very negative. But the truth is that this is not the case. Monedo has high interest rates, but the clients who come to this financial institution already know it.

That is why these high interests seem like a lesser evil that you have to pay to be able to have access to a credit without endorsement and without payroll easy and fast, which is available in your checking account in just a few hours, and with a process of what more comfortable.

Obviously, no one likes to pay high interest, and many opinions refer to the fact that, if you can wait a few days and you are not in such a hurry to obtain the loan, you can go to other options.

But, as we say, beyond that, most of the people are aware that this type of quick loans without collateral have high interest rates and do not criticize it excessively (because, as we say, it is something that is already known and of what the entity itself warns).

Another very frequent opinion about Monedo is that the service and the way of granting the loan is very convenient and fast, and, being all telematic, you save a great amount of time.

In other words, access to credit is fast and efficient, and that is something that everyone values (especially when they have a financial emergency that must be faced).

Other personal loan companies that may interest you ...

Finally, we are going to mention other personal loans that may interest you :


Cofidis Credit Project


ING Direct Loan


Evo Finance Loan

Younited Credit

BBVA Personal Loan

As you can see, Monedo is a very good option if what you were looking for is to get some type of credit without endorsement . There are other options when it comes to obtaining this type of loan , but very few are in a position to compete with Monedo (as you have seen throughout our analysis, go).