Is There Any Way To Use Money From Abroad?
The platform for lenders and borrowers
auxmoney is an online credit marketplace where borrowers and lenders can come together. The German market leader was founded in Düsseldorf in 2007 by Philip Kamp, Raffael Johnen and Philipp Kriependorf. Since the amended fee model auxmoney is completely free of charge for investors and borrowers. Only with the successful completion of a loan costs arise.
This is how auxmoney works
If you would like to take out a loan, you can make an anonymous and uncomplicated loan request between 1000 and 50,000 euros at www.auxmoney.com. Investors invest in the loan projects presented in the marketplace for amounts of € 25 or more and can choose the loan projects they invest in or automatically assemble a diversified portfolio of loans. Once a loan project has been fully funded, the loan can be disbursed.
auxmoney costs and fees
The publication of a loan request in the marketplace is free. If a loan project is fully funded and disbursed via auxmoney, a one-time commission of 2.95 percent of the loan amount is included in the monthly installment. Investors will be charged a fee equal to 1 per cent of the investment to invest in successful and disbursed loans.
Who can borrow from auxmoney?
auxmoney allows loan seekers who have no chance with traditional banks, an alternative option to a loan. Self-employed, students or probationary staff have a chance to get a loan again thanks to auxmoney. Anyone who has a residence in Germany, has an account with a German bank, has a regular income and is between the ages of 18-69, has already fulfilled all the requirements for a loan.
Is it possible to borrow from abroad?
auxmoney acts as a credit intermediary with a permanent seat in Germany. In order for borrowers to be eligible to publish a loan project on auxmoney from Austria, you must meet the above conditions: that is, in addition to a fixed income, a borrower must have a permanent residence in Germany and have a German bank account. Under these conditions, it is not possible for people living abroad to take out a loan from auxmoney.
But even if no lending is possible, nothing stands in the way of a financial investment in the way. If you want to invest money with auxmoney, you only need a bank account with a German bank. The residence does not matter. Thus, nothing stands in the way of investing in auxmoney from Austria.