The Quick Cedi Loan App Scam – What You Need To Know
You are broke. You need quick cash to sort out an emergency. Suddenly, you see an ad for the Quick Cedi Loan App. It promises “soft loans” sent directly to your Mobile Money (MoMo) wallet in minutes.
Stop right there.
It looks like a lifeline, but it’s actually a trap. As a fraud investigator here in Accra, I see this story every day. You borrow small, but you end up paying double. Then the harassment starts.
This Quick Cedi loan app review will expose exactly how they operate, why they are illegal loans Ghana authorities hate, and how to save your money (and your reputation).
Table of Contents
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How they hook you
Quick Cedi knows the system is hard. They know getting a loan from a traditional bank in Ghana takes too long. So, they make their process look easy.
You download the app. You register with your Ghana Card. You link your MoMo wallet.
They promise instant approval. They tell you that you can pay back over 91 days with low interest. It sounds perfect.
They disburse the funds quickly. You see the alert on your phone: “Payment Received.” You feel relief. But that relief is temporary. The moment that money hits your wallet, the nightmare begins.
The Interest Rate Nightmare
Is Quick Cedi legit? Absolutely not.
Here is the dirty secret they hide in the fine print. They lied about the 91 days. You don’t have three months to pay. You usually have 7 days.
They lied about the interest rate. Legitimate lenders charge a small percentage. Quick Cedi charges what we call “shylock” rates.
If you borrow GHS 500, they don’t ask for GHS 550 back. They demand GHS 900 or even GHS 1,000. That is nearly 100% interest in one week. No legitimate business runs like this. It is robbery.
Harassment & Privacy
This is the part that destroys lives. When you install the Quick Cedi app, they force you to grant permissions on your phone.
They don’t just want your ID. They scrape your entire contact list.
Why do they want your contacts? For Debt Shaming.
If you miss your payment by one hour, they do not act like professionals. They become bullies.
Here is what they do:
- They send threatening SMS messages to you.
- They call your mother, your pastor, your boss, and your best friend.
- They tell these people that you are a criminal, a fraudster, and a defaulter.
- They threaten to publish your picture on social media labeled “WANTED.”
This is illegal. This violates your data privacy rights. But because they are fake loan apps Ghana regulators struggle to track, they do it anyway.
Quick Cedi App Download Scam Warning: The app collects your ID details and MoMo PINs. They can use this for identity theft or to hack your accounts later. Never give them this power.
Red Flags You Can’t Ignore
I warn my readers at Earn More Cash Today to watch for these signs. Quick Cedi ticks every bad box:
- No Physical Address: They have no office in Accra, Kumasi, or anywhere in Ghana. You cannot find them if something goes wrong.
- Not Licensed by BoG: The Bank of Ghana regulates all money lending. Quick Cedi is not on their approved list. They operate in the shadows.
- Hidden Fees: You never know the true cost until it is time to pay.
- Zero Customer Service: No verified phone number. Just a generic email or a WhatsApp line that blocks you when you complain.
Safe Alternatives
Do not let desperation push you into the hands of loan sharks. There are legitimate ways to get a soft loan.
- Fido: They are licensed and transparent.
- MTN QwikLoan: Managed by legitimate banks.
- Traditional Banks: Many now offer quick mobile loans if you have a salary account.
Always check the Bank of Ghana website. If the lender is not there, run away.
Frequently Asked Questions (FAQ)
Is Quick Cedi legit or a scam?
Quick Cedi is a scam. They use predatory high-interest rates, false advertising about repayment terms, and illegal harassment tactics like debt shaming. They are not licensed by the Bank of Ghana.
Is the Quick Cedi app licensed by the Bank of Ghana?
No. Quick Cedi is not licensed or regulated by the Bank of Ghana. They operate illegally, which puts your money and personal data at significant risk.
Does Quick Cedi steal personal information?
Yes. Quick Cedi collects sensitive personal details such as ID numbers, Mobile Money accounts, and contact information. Because they are unregulated, this data can be misused for fraud or identity theft.
What happens if I don’t pay Quick Cedi?
If you fail to pay, Quick Cedi agents will harass you. They access your phone’s contact list and call your friends, family, and employers to shame you, often calling you a criminal or thief.
