Pawning collateral

You can find all the important questions and answers on general topics, your account area, data protection and individual items in our clearly laid out FAQ section.

A pawn loan is a type of short-term loan that usually does not involve a credit check. Instead, you hand over collateral as security for the money borrowed. This item is called a pledge.

The long history of pawnbroking shows that this form of short-term lending has been helping people for a long time. From early civilizations to the present day, pawnbroking has continued to evolve and still provides valuable financial support to many people today.

Over 3000 years ago, in the ancient civilizations of Mesopotamia and Egypt, people deposited collateral as security for loans. This enabled them to obtain goods that they urgently needed and to which they would otherwise have had no access. This system was also popular and well-known in Greece and Rome. Legal regulations ensured that the pawning of items was carried out safely and fairly via specialized dealers. Pawnbroking was particularly valuable for trade and helped people in many different situations.

Pawnbroking continued to flourish in Europe during the Middle Ages. Then as now, pawnbroking was an important source of finance. Especially for people who were otherwise denied access to credit.

Pawnbroking became even more important during the Renaissance and the Enlightenment. The growing economy needed more capital, and so state-regulated pawnshops were established in many cities. These houses helped the poor and also supported trade. Pawnbroking was also widespread in Asia, for example in China. There, too, it helped many people to bridge financial bottlenecks.

With industrialization in the 19th century, the need for credit continued to grow. Pawnshops became firmly established throughout the industrialized countries and provided an important source of finance for workers and small entrepreneurs who did not have access to banks. Laws were passed to protect the rights of pawnbrokers and regulate their practices.

Today, pawnbroking has undergone another positive development. With the internet, many pawnbrokers have gone online, making the process even easier and faster. The Chamber of Commerce awards the seal of approval for pawnbrokers and thus continues to ensure the seriousness of trustworthy pawnshops.

CASHY was the first provider in the world to offer convenient and fast pawn loans where everything can be done online. You can submit your pawned item from the comfort of your own home and receive a quote quickly. What's more, you can never lose your pawn ticket because it is saved in your account.

Today, pawnshops are widespread all over the world and offer many people important financial support. Especially in developing countries, they help people to bridge short-term financial bottlenecks. Even in wealthier countries, pawnbroking as an alternative form of credit offers a quick and easy way to get money when you need it.

At CASHY, you can get a loan like this quickly and easily online. We lend you money for many different items such as

• Electronics (cell phones, tablets, consoles, etc.)

• Gold jewelry (necklaces, rings, bracelets, etc.)

• Luxury watches (Rolex, Tudor, Breitling, etc.)

• Designer bags (Louis Vuitton, Chanel, Gucci, etc.)

• You can find more items in our category overview

On cashy.at the value of over 65,000 items is determined directly online. The fees that apply to the payout amount are also displayed immediately. Enter the name of your collateral in the search window or browse through the categories. If you cannot find your item and would like to receive an individual offer from us, you can also simply fill out the request form. As a rule, you will receive an answer with an offer no later than the next working day after your request if your item can be pawned.

If you have called up or been sent an offer and would like to accept it, you can hand over your collateral to us. Simply visit one of our CASHY branches in person or ask us to send you a shipping label for shipping your collateral.

If you leave your item with us, we will store it in our video-monitored and insured warehouse until you return it.

You can view the interest and fees for your pawn loan online in your account area at any time. Simply log in to your profile in the top right-hand corner and click on "Active pawn loans". Your fees are always calculated for two weeks. This allows you to save fees if you want to get your collateral back sooner.

Example: You want to lend out your tablet shortly before the end of the month because you have received an unexpected invoice. 10 days later, you have received your salary and can get your tablet back before the pawn loan expires. So you don't pay the full fees for a month, but only the fees until you actually redeem your item.

After the regular term of your pawn loan, you can repay the borrowed amount including fees. However, you also have the option of extending it for a small amount. If you don't want to repay the whole amount at once, you can also simply reduce your pawn loan. It is also possible to simply keep the money from the loan amount. In this case, your item will be auctioned off after a grace period and you will then be paid out any surplus from us. In any case, you will remain completely debt-free.

There are many advantages to pawning your collateral with CASHY. You can process your loan quickly and easily and receive your offer immediately. You can take out your pawn loan directly online and then manage it online. You can see your interest and fees in your account at any time and always know how much money you have borrowed. The option to extend, reduce or repay your pawn loan online gives you complete flexibility, as the fees only ever apply for the actual term of your pawn loan. Your item is stored safely for the entire term and is not used. As CASHY only uses your item as collateral, we do not need to carry out a credit check. This means that you can take out a pawn loan with CASHY not only with a good credit rating, but also with a moderate or poor credit rating. You can reach our team very quickly via the chat at the bottom right during service hours. Please be patient if you reach us outside of our service hours.

CASHY has been awarded the seal of approval of the Austrian Federal Economic Chamber. So you can be sure that you are taking out your pawn loan at a reputable pawnshop. The most important requirements are transparency and unbureaucratic processing. Our simple online processing has also convinced the Styrian Chamber of Labor and the VKI in a study. CASHY was able to score points above all with the best price-performance ratio and real-time estimates of our items including fee display.

One of the most important advantages over other pawnshops is that you can easily process and manage your pawn loan with CASHY via your cell phone. Open your account area to check your fees and the status of your loan on a daily basis. If you have any questions, CASHY customer service is always available during service hours and will be happy to help you with any questions or problems.

The costs for a pawn loan with CASHY are made up of the issuance fee, interest (1.75% per half month) and the custody fee. We will show you how much the fees for a pawn loan for a bag with a term of 30 days are and how they are made up:

Loan amount: € 1.000,-
Issuance fee: € 20,-
Custody fee: € 4,-
Interest: € 35,-
Total fees: € 59,-

You can find all further information about interest and fees at CASHY in our clear table of fees.

Please note: A pawn loan is suitable for short-term bridging due to the short term of 1-3 months. The interest rate is 1.75% per half month, which corresponds to 42% per year. For example, if you were to keep renewing your pawn loan with a term of 3 months and reach a total term of 1 year, the fees would be as follows:

Loan amount: € 1.000,-
Issuance fee: € 80
Custody fee: € 46
Interest: € 420
Total fees for 1 year (term not offered in this length): € 546,-