BUIMONEY vs ZAMCASH

Collateral free loan institutions have been on the steady rise in Zambia with these two(Buimoney and Zamcash) getting there own fair share of the market. However there has been confusion whether they are real or simply just a scam. Other people simply don't know if they are different or the same. 

This article tries to answer the above misconceptions.

Is Buimoney and Zamcash a Scam???

 What is a scam?A scam is an illegal trick, usually with the purpose of getting money from people .

Now that we know what a scam is, we can now  find out  whether these two are money scams or not.

First of all Zamcash and Buimoney provide online collateral free loans to Civil Servants and Private sector workers. One of the indicators of scammers is asking for money before doing something for you. For example if we look at how GO LIKE used to operate, it required someone to invest a certain amount of money with the hope getting a huge return within a short period of time.

Verdict

Zamcash and Buimoney are not money scams.

 

This is why: 

• Zamcash and Buimoney gives Collateral free loans to Zambian workers this means that if this was a scam then they would be the ones to lose out because they don't get any property(collateral) when giving out the loans.

• Zamcash and Buimoney provides Micro(small) loans in the ranges of K200 - K500 for first time applicants. This cant make these loans too good to be true. 

• These loans are not for everyone. Like I said in the introduction, the services are for private and government workers who  needs  to provide  the latest payslips and NRCs to qualify for the loan. Not everyone one qualifies unlike the way golike operated

• Zamcash and Buimoney does not ask it's customers for money before and after getting the loan. The only money  they get is the added interest when paying back the loan.

IS BUIMONEY AND ZAMCASH DIFFERENT OR THE SAME???

It seems Buimoney and Zamcash works the same way and have a similar interface, however there is a difference in terms of who they give loans to.

Zamcash focuses on private company workers.

If you are a worker who works for a private company within Zambia

You can apply for the loan by visiting www.zamcash.com 

And following the steps.

Remember: you need to upload pictures of your NRC and payslip on your zamcash profile after Registration before applying for the loan

Buimoney focuses on government workers(civil Servants) within the country and qualifications are the same as for Zamcash( latest payslip and NRC)

If you are a civil Servant and you want to apply for Buimoney loans, you can apply by visiting the Buimoney website on www.buimoney.com

Remember to also upload your latest payslip and NRC on your Buimoney profile before applying for the loan.

Note: Do not send money to any one before and after getting the loan.