Why Z Cash Loan App is NOT Legit – But Not a Scam

Some Nigerian loan apps are known for lying about their interest rates, loan amounts, and repayment tenure. In this review, we will scrutinize Z Cash loan app for you to know why it’s not legit BUT also not a scam.

Z Cash is a lending app owned by Piska Technology Nigeria Limited. It is NOT legit and not approved by the FCCPC (Federal Competition and Consumer Protection Commission). The address is Ikeja 101233, Ikeja, Lagos (fake address). The website is z-cash-apps.com.

Is Z Cash Loan Legit or a Scam?

Z Cash loan app is not approved by the FCCPC. It is not listed as an approved app. However, its owner, Piska Tech has two approved apps listed by the FCCPC, including Ultra Cash and Ultra Naira. So, if you come across any of these apps, it’s the same lender. The difference between Z Cash and Ultra Cash is that the latter promises at least 10,000 naira and doesn’t have an age limit.

The major problem with Z Cash is that it does not give the amount it promises you. They will credit below what is shown in the app and the repayment days are never complete.

Z Cash has a high interest rate of more than 40 to 80%. You have ONLY 5 to 7 days to pay back once you borrow from this app.

As for the loan amount, if you borrow 10,000 naira, Z Cash will disburse 7,000 only. If you borrowed 3,000 naira to pay 4,500 naira, you will only receive 2,000 naira to still pay back 4,500 naira. If you borrow 41,000 naira, you have to pay back 62,000 naira in 6 days. If you borrow 19,000 naira, you’ll receive 13,900 naira in your account and expected to pay back 21,000.

The number of days you get is not the same for everyone but is typically 5 to 7 days.

It’s fraudulent how you are shown one thing and paid another in the name of ‘processing fees’. It’s a bad practice. It also shows that Z Cash adds hidden charges.

It’s very hard to receive up to 500k from this app. The highest you’ll typically qualify for is 100,000 naira.

It’s usually different amounts for different people but you can see now that the interest rate hovers around 40% to 80%. It’s like Z Cash randomly determines what amount to pay out instead of manually or automatically reviewing your risk profile. This is why they also have some kind of wheel whereby you spin to randomly obtain a loan amount.

If Z Cash thinks you are not eligible for a loan, the app will tell you to come back after 30 days. It could be a blessing in disguise.

Usually, an agent from Z Cash may send you a message about repaying the money, even before the due date.

There is no guarantee that you’ll be given a loan after submitting your BVN, NIN, etc. This is the worst app in terms of customer service and borrower harassment concerns.

Note that if Z-Cash tells you to leave a review on their app, it doesn’t mean you’ll automatically receive a loan.

How Does Z Cash Loan Work?

Z Cash gives loans from 3,000 naira but promises up to 500,000 naira. Even if you manage to qualify for 500,000 naira as they promise, you won’t get it because you’ll be under-disbursed in the name of charges. Expect a maximum loan of 100k.

This lender typically gives small loans and randomly disburses a loan amount you have not agreed to. With Z-Cash loan, you’ll be charged an interest rate of up to 80% or more. We provided examples earlier, so you can refer back to those. Don’t also forget that you only have 7 days to pay back.

How to Apply for Z Cash Loan

  1. Download the Z Cash app from the Google Play Store
  2. Open an account with your personal and bank information
  3. Submit your registration information
  4. Apply for a loan

If your loan application is approved, the money will be credited to your bank account. As for the eligibility, you have to be a Nigerian and up to 18 years old but not older than 60.

Pros and Cons


  • The app’s owner has a CAC (Corporate Affairs Commission) profile
  • Available on Android


  • Not listed as FCCPC approved
  • A loan shark
  • You have only 5 to 7 days to pay back
  • Not available on iPhone
  • Very high interest rate
  • Loan amount is typically very small and nothing up to 500k
  • Poor customer service
  • Has a history of harassing borrowers
  • Contacts borrowers before due date
  • Disburses less than the promised amount of loan
  • Hidden charges

Is Your Personal and Bank Data Safe with Z Cash?

Piska Tech Nigeria Limited has had complaints about customer data abuse, including calling borrowers’ contacts, harassing defaulters, and sometimes calling borrowers before the due date. You should not submit your personal and bank information to this loan app because it’s not listed by the FCCPC. Only the parent company is listed but not this app.

The experience as discussed in this review is likely what you’ll come across. Note that this app can view any information you share with them, and it’s up to them to treat your information according to their privacy policy.

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

When you install the Z Cash app, information collected from your device, either with your permission or no permission, includes 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. Z Cash can also contact someone in your phone list, SMS, call list, etc.

If you have had a bad experience using Z-Cash, follow these steps to report to the FCCPC and Google Play Store.


This lender is not listed by the FCCPC but they actually give loans. If you can’t afford up to 80% interest rate, don’t bother borrowing money from Z Cash. In this review, Z Cash gets a 1 out of 5 star rating because of it’s not listed by the FCCPC, has high interest rates, 5 to 7 days loan tenure, and pays less than the amount (they underpay the loan in the name of charges) displayed in the app.

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One Response

  1. Adegboyega Oluwakemi elizabeth

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