The online lending platform, Okash recently came under fire by Kenyans online for randomly texting the users’ contacts when they default on loan payments. The users complain that during the initial installation of the app, it requests for permission to access your contacts. However, should one default on payment, the company uses randomly picks someone on your contacts list and calls them.
The bond of contention here is not that Okash accesses a users’ contact, but it does so in a foolishly random manner. You might default on a loan, and Okash will text, and even sometimes call, someone on your contact list you would not want them to contact.
Some users are complaining that Okash called their ex, boss, friend or family member they hardly speak with, leading to an awkward situation.
Indeed paragraph eight on their Terms and Conditions does clearly state that by using the app, you agree to let Okash contact your emergency contact should you default on loan repayment. However, what the company does is contact people on your contact list randomly, and not your designated emergency contacts. They even contact people you might not feel free to share information about your finances.
According to one review on Google Play Store left by a user, Damian Levis, “(Okash) does not value privacy. If you default your payment by least three days, they hack your personal contacts and start calling people in your contacts demanding their cash. They be calling your dada, mum, sister, friends, your ex… seriously.”
Too little time is given for Loan Repayment
Users are also complaining of being given less time to repay their loans. Okash gives users just 14 days to repay, and once you go passed that period before repaying, they simply deny you the next borrowing. Users are now accusing Okash of plotting to just collect revenues (principal payment plus interest) and then disappear.
Poor Customer Service
When you read the users’ reviews on Google Play Store, you get the picture that Okash does poorly when it comes to customer service. For instance, some users complain that the app does not reflect the loan repayment in good time, forcing them to contact customer care service in order for the repayment to be reflected.
Additionally, when a user overpays their loan, the excess amount is not returned to them promptly. Okash on its part, said they were using a manual system to update the payments records, and that is why it was taking time for loan repayment to be activated.
@CBKKenya you guys need to check on how okash is exploiting citizens or do you surport the charges that they enforce on there customers of 2% interest daily on delay.
— rashjuma (@rash_juma) January 7, 2019
friends in 2019 we leave #oKash in 2018..they cut 14% from the loan u take and #mpesa u the reminder… then on pay day u pay the full amount plus another 14% interest… see that's 28%!!! pic.twitter.com/2xqpGepF9g
— The Wolf Of Aberdares (@montanabay39) January 2, 2019