Review: Xcrosscash Loan App is Legit But Also Shady

We all need a legit lender with attractive promises in their ads who can stick to it. However, not all these loan apps keep their word, especially when you are dealing with a loan shark. This honest review will be about the Xcrosscash loan app, one of the loan sharks in Nigeria. Its major promise is that borrowers will be able to activate their evolving credit limit but is this true? Well, there’s a lot to find out by the time you read this review to the end.

Xcrosscash loan app is fairly legit. It is listed by the FCCPC (Federal Competition and Consumer Protection Commission) as having waivers licensed by the CBN. So, it’s not fully approved by the FCCPC but licensed by the CBN. Xcrosscash is owned by Newedge Xcross, the owners of Palm Credit, New Credit, and Easy Buy apps. Their address is 50c Sauket St, Ikeja GRA, Ikeja, Lagos. It’s time to reveal all you need to know about this app that has made them look shady in recent days.

Is Xcrosscash Loan App Legit? An Honest Review

Is Xcrosscash Loan App Legit

Xcrosscash may be listed by the FCCPC as having waivers licensed by the CBN but this loan app is also shady. As such, we are reviewing it to let you know what you’ll be going into when you install the app and submit your personal and bank information.

For example, if you merely signed up on the Xcrosscash loan app with your personal and bank information, you are very likely to be given a loan you did not apply for. You might see a debit alert from ISW WEB prchs-xcrossc of any amount on your account, even when you have not applied for their loan or owe Xcross any money. Basically, Xcrosscash loan app gives a loan without your approval when you bind your bank card.

After forcing this unwanted loan on you, and you offer to refund the money, the customer service will promise to clear the interest. However, a lot of times, they leave it running till the due date and start debiting your account endlessly.

Also, let’s say you applied for a loan but never collected it from them, Xcrosscash may still go ahead and debit you. Whether this is a mistake on their end or deliberately done, it’s a terrible experience for anyone.

Now, let’s say you have just paid back your loan, you may not receive any messages concerning the payment. This means that the loan amount will still be reflected in your account.

Xcrosscash lender is terrible and not helpful to borrowers. This app also has a reputation for taking interest upfront. For example, you could be granted a 6,000 naira loan but only able to withdraw 4,800 naira. When repaying this loan, you will still pay up to 8,460 in a very short term, typically 7-14 days.

Well, that’s it with their downsides, and hopefully they improve to avoid getting delisted by the FCCPC.

How Does Xcrosscash Loan Work?

Xcrosscash loans can be as low as 2,000 naira and up to 50,000 naira. You typically won’t be eligible for huge amounts, and there are no guarantees that after charging your card, you will be approved for any loan amount.

Xcrosscash also claims that its repayment term is from 91 to 180 days but this isn’t true. The common reality is that you’ll be given a loan repayment term of 7 days and above.

Forget about its monthly interest rate claims of 4% to 4.7%. You will end up seeing as high as 40%, and with so many fees, you might be seeing 50% interest, which explains why Xcrosscash is a loan shark. It even turns out that Xcrosscash hardly operates on an annual percentage rate (APR) since they won’t even qualify you for such a loan term.

Under its app description, you will find an example that if a borrower chooses a 6-month loan to borrow 10,000, naira, Xcrosscash will charge an interest rate of 4% per month. This isn’t the reality. The reality is that you’ll have 7-14 days to repay a loan of 10,000 naira with an interest rate of up to 40-50%. So, you may end up receiving a loan disbursement of 6,000 naira to pay back up to 12,000 naira, despite requesting 10,000 naira.

How to Use Xcrosscash Loan App

  1. Search Xcross cash on the Google Play Store and install the app.
  2. Sign up with your personal and bank information, including your name, phone number, BVN, etc. We will talk more about your personal, bank, and device information that Xcrosscash will require during and after the sign-up.
  3. Apply for a loan by clicking the ‘Withdraw’ button.

These are the few steps. Now, combine these with the potential experience you’ll have using this app, which we have reviewed already.

You have to be a Nigerian resident and between 20 and 55 years old to be eligible to use Xcrosscash.

Pros and Cons


  • Available on Google Play Store.
  • Listed by the FCCPC as having waivers licensed by the CBN.
  • They actually give loans but shady at the same time.


  • Xcrosscash has a reputation for debiting your card even when you don’t apply for a loan.
  • Hardly disburses loans.
  • When it disburses, the loan isn’t instant as claimed.
  • It’s a loan shark.
  • Rude and poor customer service.
  • Extremely high interest rates.
  • It’s a loan shark.
  • Not available on iOS.
  • Does not have a web app.

Is Xcrosscash Loan App Safe to Borrow From?

Xcrosscash hasn’t had any issues related to customers’ data abuse. However, from its shady practices and typically false advertising, it may not be the safest app for your personal, bank, and device information. We will list out all the information the Xcrosscash loan app will collect from you during and after installing and signing up on the app.

Personal information collected includes your name, age, email address, phone number, personal description, photograph, username, NIN, and home address (such as utility bill). Bank information collected by Xcrosscash includes BVN (bank verification number), debit/credit card number, and bank account number.

When you install Xcrosscash app, information collected from your device, either your permission or no permission, include your installed apps, device ID, device type, IMEI, GPS information, device operating system, IP address, personal contact numbers, call logs, SMS logs, Facebook friends and other social media accounts, photos, and videos or other digital content. Xcrosscash lender can also contact someone in your phone list, SMS, call list, etc.

It’s up to you to make this decision. Xcrosscash app may not be a perfect loan app but one thing they can sometimes do is actually give loans, even though they can sometimes be shady.

If you have been treated unfairly by Xcrosscash loan app, report them to your bank and the FCCPC.

Review Verdict

The big problem with Xcrosscash lender is that they can endlessly debit your account with or without your consent. So, it may not be safe to put your personal and bank details here to avoid the bureaucratic processes of getting them to revert any charges.

Read Also: Why CashRun Loan App is Shady in Nigeria

Leave a Reply