Is GGmoney loan app Approved and Registered by the CBN?

 Is GGmoney loan app legit and registered by the CBN? I decided to write on GGmoney loan app due to the fact that I have seen two or three person's ask me about ggmoney loan if they are approved by the CBN? We will definitely provide answer to this question below in the next paragraph but few other information will aslo be added so you get convinced on how we were able to arrive at that.

GGmoney loan is one of the wisely used loan app downloaded from the Google play store and I am writing this post update, ggmoney loan is still on playstore giving out loans to people who seek. Mind you loan app give instant loan without collateral or guarantors but they have a way of tracking their loans and also getting their loans right from the moment you sign up to seek a loan.

Is GGmoney loan app legit and registered by the CBN? Well the last time I checked through the cbn website for registered and approved loan apps or loan sites, GGmoney loan is not part of the approved loan apps which means GGmoney app is not legit. Because it's not legit, you need to  be careful and use the loan app wisely simply because your information are with them and other things.

Does GGmoney loan app defame? Since they are not approved and registered by the CBN, it means they can do anything but they defame. They tend to defame you by sensjng messages and calling your contact list Incase you fail to pay up your loan or Incase you default in payment of loan. It means you may trybas much as possible to borrow small amount of money you need so that you can relay the loan on time if you have harassment.

Does GGmoney send messages to Whatsapp contacts? Yes they do, GGmoney will send messgss to friends, families, colleagues and employers if you default in making payments or late payment of loan.

Reasons why GGmoney is not legit and not approved or registered by the CBN:

1.  7 days loan offer: GGmoney loan app isn't registered or approved by CBN because it offers 7 days loan repayment plan. Any loan app that offers 7 days loan isn't a legit loan and thanks why you need to run for your lives. Don't be fooled, you may see over 60 days on the app homepage but when you register you then see 7days repayment plan for the loan.

2. No physical office: GGmoney loan app has no physically office. Not having an office where people can walk into for complain or issues shows the app isn't operating legit. A legitimate loan app must have a physical office if not offices and not run mainly online from home or diddne centers.

3. No licence: GGmoney isn't approved by CBN because it doesn't display then license of operation on the site or about us of the app. Apps like renmoney or Fairmoney do have their license of operation by the CBN on their boldly which makes us confirm the non approval and no app registration by the cbn

4. Calling of contacts: GGmoney also call your contacts and send messages to your whatsapp contacts if you don't repay your loans when due. It depends on the loan recovery agent but majority will post things like you borrowed money frlm ggmoney because you are with company's money and also on the run with it. It might be that you collected the loan due to health challenges but now you don't want to pay back.

5.  Customer care: most times, the customer care services can be very poor. You might not have access to their customer care agent if you have any issues but keep calling you few days to your lona due date and if you call the number they won't pick it up and when they pick, they tell you they will fix the problem.

6. Auto debit or Deduction: Yes almost all the loan app do this either registered or not. GGmoney also deduct or auto debit you on or before the due date. Someone said she got a debit alert from GGmoney which was more than the money she owe, she called the customer care services but no one answered to the calls and I was just calm down and there's no one you can report to because the app is not registered or approved by the CBN. 

If you don't want this type of issues to happen to you, what you can do is to change your debit card password or login details, change transaction pin or switch off card use so as to prevent your card for unnecessary auto debit and don't forget you granted them permission to auto debit your card when you register to seek the first loan.

7. Harassment: The harassment level for ggmoney is high. They will call you, insult you and send messages to your contacts list. Even if you pay part of the loan, ggmoney will still harass you big time and call you multiple times untill you pay up the loan. That's why it is good to borrow loan you can pay with ease without stress than borrowing what you won't be able to pay.

8. High interest rate: just like any other loan app, the interest rate is very high but if you think you can cope then take the loan and pay back on time within the stipulated loan peeiod of 7 days repayment if not the whole world will know what is happening betwem you and the loan app through calling of your friend, colleagues and relative or anyone on your phone contact list saved on their sytem.

In conclusion, all these put together shows GGmoney loan app isn't approved or registered by the CBN. It means you use the app at your own risk coupled with the fact that the interest rate is very high, almost double the amount you borrowed from the app.