❖ About Our Loans

  1. Who are we?
    CoolCash is a member of the Cool Group of Companies that seeks to lend to responsible working persons who are in need of short term cash to meet immediate needs ahead of their receipt of their regular income. Visit our About Us page for more details.
  2. What is the best way to contact us?
    You should be able to find most of the information you are looking for on our website. If our website does not answer all of your questions, you can email us at
  3. What is the CoolCash app?
    The CoolCash app is the Cool Group’s mobile app aimed at making short term lending as easy and accessible as possible.
  4. What are the requirements to get a loan on the CoolCash app?
    To get a CoolCash loan you must meet the following requirements:

    • You must be at least 18 years old;
    • You must be employed in Jamaica;
    • You must have an Android phone;
    • You must have an active Jamaican bank account;
    • You must have an active Facebook account.
  5. Which banks do CoolCash accept?
    CoolCash accepts the following banks:

    • Scotiabank
    • Jamaica National
    • First Caribbean
    • Sagicor
    • National Commercial
    • JMMB
    • First Global Bank
  6. Do I require a credit check?
    We will conduct a credit check during our underwriting process. It is however only one of several major factors we examine when deciding to lend, i.e. a bad credit score may not stop us from approving your application.
  7. How much does a CoolCash loan cost?
    The total amount you pay depends upon the amount you borrow and the time period in which you repay the loan. The shorter your loan period, the less you pay. In addition to interest, we also charge a processing fee. All relevant information (e.g. loan principal, total repayment, loan term in days, etc.) are presented to you before application. To calculate exactly how much your loan will cost, download the app today!
  8. Why can’t I choose to apply for a Term Loan?
    Our Term Loan product is only made available if you have logged in to the app and entered the date of your next salary.
  9. How quickly will I get a status update?
    Approval can usually take anywhere from 10 – 15 minutes but may take longer depending on whether we have trouble verifying your data.
  10. How quickly will I receive my loan?
    You can receive your loan within 30 minutes of approval; however, there may be delays, due to your bank’s hours of operation, weekends, or bank holidays.

❖ Loan Application Process

  1. How do I apply for a loan?
    You can apply for a loan by downloading the CoolCash App on an Android or Apple phone. Simply let us know how much you would like to borrow and when you want to repay the loan. We will let you know the total repayment and other relevant loan details. You will be asked to fill out the application and upload photos of supporting documents. Once you submit your application, you will receive a response within 30 minutes letting you know if you have been approved.
  2. The app shuts down every time I try to log in through Facebook!
    We’re sorry for the inconvenience. We have fixed this issue in our most recent app update, so please check the Google Play Store to ensure your app is up-to-date. If you have no update available and the problem still persists, please feel free to contact us at
  3. My card doesn’t have a CVV or expiry date, what do I do?
    We’re sorry, but we currently do not support payment through convenience cards or NCB Midas cards, but rest assured we are working as hard as we can to bring that access to you.
  4. What if I can’t go to the bank to get a bank statement?
    No worries! If you have online access to your bank account, simply sign in and submit a picture of the page. Ensure that your name, account number, and last login details are visible.
  5. My Electoral ID number has less than six (6) digits, what do I do?
    In the case of having five digits in your ID, ensure that you place one zero (0) before the digits. If you have four digits in your ID, ensure that you place two zeroes (00) before the digits. This will ensure that your Electoral ID number meets the required six digits.
  6. Why isn’t my promo code working?
    First, ensure that you have properly typed the promo code. If your promo code is still not working, it may be invalid or expired.
  7. Is it compulsory to connect my social media accounts?
    Connecting to social networks will significantly improve your chances of being approved for a loan.
  8. If I’ve logged in through social media, why do I need to log in again for social verification?
    When you log in with your social media, the app automatically uses the account that is already logged in to the phone. Logging in again for social verification is an extra precaution we take to ensure you are who you say you are.
  9. If I’ve received a loan before, am I automatically guaranteed to receive future loans?
    No. Regardless of previous loans if anything causes us to believe that you will be unable to repay your loan on the agreed date, your loan application may be denied. Likewise, having been refused previously does not prevent a future loan application from being approved.
  10. What happens to my information when I submit an application?
    Your privacy is incredibly important to us here at CoolCash. We cannot see or access any of the information in your application until you have signed the Loan Agreement and submitted your application. Once your app is submitted, one of our trained representatives reviews it for consistency. For more information, check out our Privacy Policy.
  11. How soon can I apply for new loan once I repay my original loan?
    Once your repayment is successful and have no active loans with us you may submit another application.
  12. The app is glitching/not working like it should!
    Check your internet connection! It might be causing information to take a while to upload/download. We recommend connecting to WiFi when using the app, rather than depending on mobile data.

❖ Managing Your Loan

  1. Where can I view my Loan Status?
    This can be viewed through the in-app Loan Control Panel which is accessed through the Menu Options.
  2. How do I pay my loan?
    Once you have provided us with accurate banking details, all you need to do is ensure that you have sufficient funds to repay the loan on the promised repayment date. We will directly debit the funds from your account on said repayment date.
  3. Can I pay with someone else’s account?
    You may not repay the account with someone else’s account. If you wish to make alternate payment arrangements please contact us.
  4. What are the consequences of not repaying my loan?
    Once our collection attempt is denied due to insufficient funds the CoolCash app will notify you that the repayment failed. If you wish to avoid late fees you have until the end of the next business day to contact us.

    At that point there are several possibilities:

    • If you contact us and act immediately to pay the full repayment amount or make the full repayment amount available for collection no late fee will be charged and the loan will be treated as having been paid on time;
    • If you contact us and request that the repayment date be adjusted to a later date and such rescheduling is possible we will fulfill your request. This will prevent a late fee from being charged but interest will continue to accrue at the rate prescribed in the loan agreement. If the loan is then repaid smoothly the loan will be treated as having been paid on time. (NB: Limitations apply to the dates you may possibly adjust to);
    • If you do not contact us a late fee will be charged and interest will continue to accrue at the rate prescribed in the loan agreement until the repayment has been made in full. The loan will be marked delinquent. This will be reflected in your credit history and your name may be presented on the CoolCash website in recognition of delinquency. Loans outstanding for greater than 34 days may be handed over to a debt collection agency.

    We will attempt to contact you to query the status of the repayment. Your inability to repay your loan in a timely manner may result in you being unable to borrow from CoolCash in the future.
  5. What steps must I take to extend my loan repayment period?
    To extend your Term Loan, please contact us in person, by phone or by email on the business day before your scheduled day of repayment at the very latest, and specify the date you would like the repayment to be adjusted to. (NB: Limitations apply to the dates you can adjust to.)