The rising interest in multi-currency loans offered at Conotoxia is matched with the service’s dynamic development. From now on, users can choose to withdraw the loan to a bank account (as at present) or the fintech’s multi-currency card. In addition, the funds can now be debited automatically on the loan repayment date – from the card account or the currency wallet.
Conotoxia users already have the possibility to choose whether they want to withdraw the loan to a bank account, as before, or directly to a multi-currency card. If the customer decides on the second option but does not yet have the fintech card, they can order a virtual version during the loan application process. In the case of a positive loan decision, the funds will be instantly paid to the new, free multi-currency card.
Thanks to the loan withdrawal on the card, users get the money immediately, and the commissions are lower. Customers do not need to have a multi-currency account with their bank to receive money in a given currency. As another benefit, the repayment process is simplified – the fintech can automatically debit the funds on the agreed date from the card account or the currency wallet.
“By launching the option to withdraw a loan on a multi-currency card, we not only want to develop cross-selling but also give customers a choice. We know that users have their habits and preferences, and our goal is maximum convenience for each and every customer. The novelty implemented is the next step in developing the loan service and the announcement of further expansion of the offer in this area,” says Piotr Kicinski, Vice-President of Cinkciarz.pl, a company belonging to Conotoxia Holding.
The value of multi-currency loans granted has increased by as much as 6247 percent in 2021, and their number has increased by 4410 percent, compared to 2020. Minimum formalities and fast execution characterise loans available on Conotoxia.com. Users on their own determine the amount they need, the currency and when they will repay their obligation. Then they fill out an online application and wait for the decision and money.