Frequently Asked Questions
X Cash A.I. (Small Loan Amount)
X Wallet Loan
General
Q. What is X Wallet? What is the mechanism behind it?
A.
X Wallet is a mobile app developed by Zero Finance, which provides a true automated money lending experience without the need of any human processing elements or interruption, making it the first to break the traditional lending method offered by other lenders in Hong Kong. Without requiring the user to provide income proof, the loan is approved using big data analytics and machine learning technology based on only the HKID information provided by the applicant during the 3 easy steps application process. The approval result will take only 5 seconds. The fund will be processed automatically using Faster Payment System(FPS) and instantly deposited into your chosen bank account. Your application status is shown through the mobile app and you’ll be notified once your loan is approved. Apply now and get your cash as fast as 20 minutes.
Q. What are the differences between X Wallet and other lending companies?
A.
X Wallet emphasizes on a fully loan automation system which has never been done before. Nowadays, traditional lending is no longer capable of representing the era of technology advancement as it cannot fulfill the needs of new generation of users. Thus, the establishments of X Wallet can completely meet the borrowing habits and needs of customers. First, users are free from time and location barriers as the whole process could be completed through mobile app. Second, zero manual intervention operation is adopted which enables users to actively check their account and transactions to ensure the largest transparency and flexibility to users.
Q. How do I check my account balance and expiry date?
A.
You may check the relevant information through “My Account” after logging into your X Wallet account.
Q. I forgot my password. What should I do?
A.
You can reset the password in X Wallet by tapping the “Forgot Password” button in the sign-in screen. Please follow the steps to set password.
Q. My residential address or job information has changed. What should I do?
A.
Please inform us within one month in writing if your personal information has been changed by email at cs_support@zerofinance.hk.
Q. If my personal information has changed, do I need to provide relevant supporting documents?
A.
It depends on the type of information. For example, if your residential address has changed, you need to provide proof of address for the last 2 months.
Q. What should I do if I have other questions to ask?
A.
Please visit “Contact Us” to access to “Leave your message” page, or contact our customer service hotline at 2531 0333 for assistance.
Q. What is the system services hours?
A.
System services hours is 24 hours a day
Technical Problems
Q. How does X Wallet protect my privacy data?
A.
Please visit PDPO for more information about our privacy policy.
Q. Is my personal data safe?
A.
To ensure your personal and account information are safe, high standards of security measure is put in place to protect not only you but every users’ personal data. Please visit PDPO for more information about our privacy policy.
Q. What should I do if I need technical support, or have problems when I am using the app?
A.
Regarding technical problems, please contact our customer service hotline at 2531 0333 or email us at cs_support@zerofinance.hk for assistance.
Q. What should I do if I can’t login?
A.
Please make sure that the network on your mobile phone is turned on and functioning properly, or else try resetting your password. If you still have trouble signing in, please email us at cs_support@zerofinance.hk for assistance.
Q. I think that someone tried to access my account.
A.
If you suspect any abnormal activities with your account, please contact our customer service immediately at 2531 0333 or email us at cs_support@zerofinance.hk. We can work with you to help you resolve the problem.
Getting Started
Q. How do I apply for a loan with X Wallet mobile app? How does the approval process work?
A.
The approval process is simple:
- Download X Wallet mobile app.
- Register as a member
- Tap Apply for X Wallet to start the application process
During the application process:
- Capture your HKID card
- Fill-in your personal information
- Authenticating your identity
- Capture your bank account information
Once the loan is approved and the contract is confirmed, your money will be transferred automatically with FPS to your chosen bank account.
Q. How much can I borrow? What is the repayment period?
A.
You can borrow as little as $1,000 depends on the circumstances of individual cases. The shortest repayment period starts from 61 days and the longest is 48 months. *Only applicable to some existing refinance customers
Q. Can I still apply for a loan if I have previously filed for bankruptcy ?
A.
Yes. X Wallet uses machine learning system to conduct financial analysis and loan approval process based on the information you have provided. For enquiries, please contact our Customer Service Hotline at 2531 0333.
Q. What are the requirements needed to apply for an X Wallet loan?
A.
The following are required to apply for an X Wallet loan:
1. Hong Kong Identity Card
2. Hong Kong bank account
3. Hong Kong permanent resident who is aged 18 or above
Q. Can I apply for a loan without any income proof?
A.
Yes. X Wallet uses machine learning system to approve a loan through big data analytics and no income proof is needed during the application process.
Q. Do I need a guarantor or collateral to apply for an X Wallet loan?
A.
No guarantors or collaterals are required to apply for an X Wallet loan.
Q. Can I apply for an X Wallet loan if I have credit card or other debts?
A.
Yes. We will process your application accordingly based on analysis from the information you’ve provided.
Q. How do I calculate the interest payments offered by X wallet?
A.
The interest offered by X Wallet is calculated daily. Interest will not be calculated for any unused credits.
Applying for a X Wallet loan
Q. How do I get my money?
A.
After the verification process is complete and once the loan contract is confirmed, the fund will be processed automatically using Faster Payment System (FPS) and instantly deposited into your chosen bank account.
Q. How long does it take to approve a loan?
A.
It will take as fast as 5 seconds to approve a loan after your application is submitted.
Q. How do I update my bank account information?
A.
If your bank information has been changed, please contact our customer service hotline at 2531 0333 for assistance.
Q. I have not received a verification code/e-contract by email/ SMS. What should I do?
A.
Make sure the email isn’t in the spam folder of your email. If you are still have trouble receiving the email/SMS, please contact our customer service hotline at 2531 0333 for assistance.
Q. How do I edit the information on my application?
A.
You may edit your information through X Wallet mobile app before submitting your application, including personal information and account information. Yet, no changes are allowed upon the agreement is established. Information editing would only be done by our staff. If you want to edit the information such as loan amount, repayment period, or other personal information, please contact our Customer Services Hotline at 2531 0333.
Q. Why did my application got rejected? Why my loan amount in my application had been changed?
A.
X Wallet is a zero manual intervention loan application using machine learning technology to approve a loan, therefore, application approval and the amount you can borrow will be determined by the system itself.
Q. Why is a picture of my HKID taken and why do I need to verify my true identity during the X Wallet application process?
A.
X Wallet is a zero manual intervention loan application. It is necessary to provide your HKID for verification purpose in order to ensure data accuracy.
Payment
Q. How to calculate the repayment amount?
A.
The lowest repayment amount is calculated in terms of total residual interest to be paid.
Q. Can I pay-off my X Wallet loan before my borrowing period?
A.
Yes. Repayment is completely flexible. You can pay-off your X Wallet loan at anytime within the borrowing period.
Q. How can I repay?
A.
X Wallet provides the following two repayment methods, you can use either method to repay:
I. 7-Eleven Convenience Store
Please bring the repayment QR code of X Wallet to any 7-Eleven Convenience Store in Hong Kong for cash repayment. Each payment at 7-Eleven convenience store is capped at $5,000, while there is no limitation on the number of transactions. Separated transactions will be needed for the payment over $5,000. Repayment record will be updated on the next business day. (Public Holidays, Saturdays and Sundays are not considered as business days) Whilst one more business day will be needed for the transactions completed after 5pm. Please keep the payment receipt for record. Please check if the merchant name, payment number, payment amount, payment date and payment time on the receipt are correct.
II. FPS
Please use the mobile app of the payable bank to scan FPS QR code in X Wallet Mobile App for payment. The repayment record will be updated on the next business day before 12pm (Public Holidays, Saturdays and Sundays are not considered as business days). Please keep the repayment record for verification purpose. Before processing the repayment, please confirm the merchant name and payment amount. Any repayment which is not proceeded through the designated QR code might incur extra interest due to the delay in updating repayment record.
Q. Do I need to apply for X Wallet again when the repayment amount is paid off?
A.
No. X Wallet acts as a revolving loan, your credit limits will still be kept after your repayment is paid off within the loan contract period.
Rates, Fees & Charges
Q. What fees does X Wallet charge? Are there hidden fees or administration fees of applying for a loan?
A.
X Wallet will never charge any hidden fees or administration fees for any successful, cancelled or rejected applications.
Promotions
Q. How do I unsubscribe from promotional text messages and promotional emails?
A.
If you choose to unsubscribe from text messages, please contact us at 2531 0333. For email unsubscribe, please send your request by email to cs_support@zerofinance.hk with provision of your email address.
About Credit Score
Q. Will X Wallet get access to my credit report??
A.
Yes. X Wallet will request from the applicant a credit report consent in order to get access to their credit report through credit reference agencies for application assessment.
Q. Sample FAQ
A.
asdfafaf
X Loan (Large Loan Amount)
X Wallet Loan
General
Q. How do I apply for a Personal Loan? What documents are required for applying Personal Loan?
A.
Please provide the following documents to apply for X Personal Cash: 1. Hong Kong Identity Card 2. Latest 2 months of your Residential Address Proof 3. Latest 2 months of your Bank Account Records (Personal/Commercial) 4. Latest 2 months of your Income Proof (eg. Bank Statement/Employment Certificate/Tax Demand Note) and Proof of employment If you have any further problems about the required documents, please do not hesitate to contact our customer service team: 2531 0333. We will give you the most relevant advice on every situation.
Q. Can I submit the documents through Whatsapp?
A.
The application procedure can be processed through online and mobile. You may submit documents through whatsapp, email or in person. You may merely use phone or computer to complete the whole application process and instantly get your cash.
Q. Can I apply for the X Personal Cash from Zero Finance even if I had been rejected by other financial companies before?
A.
Yes, we encourage you to apply for our loans whenever the required documents are prepared, including Hong Kong Identity Card, bank statement and income proof.
Q. Can I apply for the Personal Loan with bad debts or low credit scores?
A.
We evaluate the situations on a case by case basis and may make an exemption for the applicant subject to individual case. The loan application could still be approved if you have prepared all required documents including residential address proof, bank statement and income proof.
Q. Can I apply loans for ____ purpose(s)?
A.
The exact purpose when you apply for a loan is not our major consideration. We highly welcome anyone who wishes to apply for purposes such as clearing credit card debts, urgent financial needs, etc.
Q. How long does the approval process take?
A.
The pre-approval process takes as little as 30 minutes when all required documents are submitted. The actual time required would depend on the circumstances at the time.
Q. Do I need to come to sign the contract in person after my loans are approved?
A.
You are required to visit our branch to sign the contract in person.
Q. What is the maximum amount that I can borrow for a personal loan?
A.
We aim to offer you the best personal loan plan. Therefore, the actual loan amounts will depend on your particular case. We’ll always do our best to fulfill your needs and meet your expectations.
Q. What are the Personal Loan interest rates?
A.
We offer best personal loan interest rates to help meet your financial needs. The actual interest rate will depend on your particular case. You may contact our customer services hotline at 2531 0333 if you require further information.
Q. Do you offer the service of debt restructuring?
A.
Yes. You may contact our Customer Services Hotline at 2531 0333.
Q. Are there any administrative fees on applying for a Personal Loan?
A.
There are no additional administrative fees for the whole application process.
Q. What is the monthly repayment amount of my Personal Loan?
A.
You may kindly refer to our customer experience shared on the website. One example, the monthly repayment amount would be $5,649 for a loan amount of $120,000 for a repayment period of 24 months. We aim to offer best interest rates to help you with your financial needs. You may contact our customer services hotline at 2531 0333 if you require further information.
Q. Would it be possible to pay off the credit card debts at once?
A.
Yes. We highly welcome you to apply for our X-Large Personal Loan to clear credit card debts. You may contact our customer services hotline at 2531 0333.
Q. Can I still apply for a loan if I have previously filed for bankruptcy?
A.
You are welcome to apply whenever you could provide a certificate of discharge. However, we do not accept the applications from applicants who are currently filing for bankruptcy.
Q. Can I apply for a loan without any income proof?
A.
Yes. We will proceed accordingly and give appropriate suggestions in order to fulfill your financial needs. If you have any further questions, please contact our customer service hotline at 2531 0333.
Credit Score
Q. Can I apply for a Personal Loan with a low credit score?
A.
Yes. Credit score is for our reference only and is not a major consideration in loan approvals. We aim to offer you the best Personal loan plan to help you with your financial needs.
Q. Can I apply for a Personal Loan without a credit report?
A.
We will only get access to your credit history when we have obtain permission from you.
Q. Does getting rejected hurt my credit record?
A.
There are different loan requirements from different loan companies. Thus, there would be a wide range of factors that could affect your credit record.
X Debt Consolidation Loan
X Wallet Loan
General
Q. What is a debt consolidation loan?
A.
A debt consolidation loan allows you to combine multiple loan balances into a new loan, usually with a lower interest rate than typical credit card rates. This simplifies your repayment process and can help you save on interest costs.
Q. How can I obtain a debt consolidation loan?
A.
Both full-time and part-time employees, cash payroll, or freelancers are eligible to apply for the debt consolidation loan. Applicants need to provide their recent two months’ income proof, Hong Kong identification, and proof of address in Hong Kong.
Q. Are there any fees associated with a debt consolidation loan?
A.
No, Zero Finance does not charge any handling fees for their debt consolidation loans, and there are no hidden fees involved.
Q. Will a debt consolidation loan affect my credit rating?
A.
Consolidating your debts with a debt consolidation loan can streamline your repayments and may improve your credit rating over time, potentially increasing your TU credit score.
Q. What is the interest rate for a debt consolidation loan?
A.
The annual interest rate for a debt consolidation loan with Zero Finance starts at 8% (p.a.). The rate will vary based on your TU scores, loan amount, and the loan period.
Q. Can I pay off my debt consolidation loan early?
A.
Yes, you can settle your loan early without any additionalhandling fees.
Q. How long does the approval process for a debt consolidation loan take?
A.
Our professional loan officers will customize and make the most suitable loan plan for you.
The loan process is simple and easy, offering the possibility of same-day approval followed by immediate fund disbursement.
X Mortgage Loan
X Wallet Loan
General
Q. What is a Second Mortgage?
A.
When the owner of property needs a loan, he/she can use his/her property with outstanding mortgage to apply for another property loan, which is known as a “second mortgage”. The borrower may obtain further finance under the same property while the terms under the first mortgage remains the same.
Q. How do I apply for a Mortgage Loan? What documents are required to apply for Mortgage Loan?
A.
Please provide the following documents to get your first and second mortgages : 1. Hong Kong identity card 2. Latest 2 months residential address proof (Latest bank statement or utility with your name) 3. Latest 2 months income proof (Personal or commercial bank records / Salary proof from employer / Tax demand note) 4. Proof of employment (Employment agreement or contract / Employee ID / Letter of appointment / Latest 2 months payroll slip) 5. Payment proof for mortgage and rent arrears or provisional agreement for sales and purchase / Agreement for sales and purchase (only applicable to new buyers of property)
Q. Are all loan procedures handled by a lawyer?
A.
Yes, to ensure the quality in our mortgage services, our lawyers to handle your mortgage to offer you a peace of mind.
Q. How long can the repayment period last up to?
A.
We can provide flexible repayment options that are as short as 1 month to 300 months, you may decide on the repayment period according to your repayment ability.
Q. What are the mortgage rates from Zero Finance?
A.
We offer best mortgage loan interest rates to help meet your finance needs. The actual interest rate will depend on your particular case. You may contact our customer services hotline at 2531 0330 if you require further information.
Q. Can I sell my property during mortgage process?
A.
Yes, customers can sell their property at any time during loan process. The owner will need to inform us in advance after an agreement has been made between the owner and the buyer. We may set the cut-off date as the closing date so that the customer can repay the loan in full on the same day. Click here to apply
Q. If my property is jointly owned, can I apply for a loan?
A.
Yes, we accept loan applications from property owners of jointly owned properties.
Q. Can a Village, Small House, or Old House(Tong Lau) owner apply for a Mortgage Loan?
A.
Yes, we accept applications regardless of property age and type in Hong Kong, including private homes, tenement buildings, shops, commercial, industrial properties, and parking spaces. Depending on the situation, we will analyze and consider from many aspects of your property. You may contact our Customer Services Hotline at 2531 0330 if you require further information.
Q. What is a Transfer Mortgage?
A.
A Transfer Mortgage is transferring your current mortgage to another lender.
Q. What documents are required to apply for a Transfer Mortgage?
A.
Please provide the following documents : 1. Hong Kong Identity Card 2. Latest 2 months Residential Address Proof 3. Latest 2 months Bank Account Records (Personal/Commercial) 4. Latest 2 months Income Proof (eg. Bank Statement/Proof of Employment Letter) 5. Only your latest repayment records are required. 6. Payment Proof for mortgage and Rent arrears.
X Property Owner's Loan
X Wallet Loan
General
Q. What is a Property Owner’s Loan?
A.
It is a personal loan plan with a larger loan amount for landlords under the Home Ownership Scheme and Tenants Purchase Scheme with premium unpaid. Apply now.
Q. What are the differences between a Property Owner’s Loan and a general personal loan?
A.
The loan amount of Property Owner’s Loan is larger and its approval is not limited by salary or income proof of the applicant. Moreover, the repayment period is more flexible, and interest rate are better. Apply now.
Q. What documents are required to apply for a Property Owner’s Loan?
A.
To apply for a Property Owner’s Loan, please provide the following: 1. Hong Kong identity card 2. Within 2 months residential address proof 3. Latest 2 months income proof (Personal or commercial bank records / Salary proof from employer / Tax demand note) 4. Proof of employment (Employment agreement or contract / Employee ID / Letter of appointment / Latest 2 months payroll slip) 5. Mortgage instalment record and balance record concerned
Q. Is a lawyer needed to process a Property Owner’s Loan?
A.
No, a lawyer is not needed to process a Property Owner’s Loan. Also, the customer is not required to provide any security or a Title Deed.
Q. How long can the repayment period for a Property Owner’s Loan?
A.
We can provide flexible repayment options that are as short as 1 month to 240 months, you may decide on the repayment period according to your repayment ability.
Q. What is the loan amount that I can apply for if I am a landlord under the Home Ownership Scheme and Tenants Purchase Scheme with premium unpaid?
A.
We aim to offer you the best Property Owner’s loan plan. Therefore, the actual loan amounts will depend on your particular case. We’ll always do our best to fulfill your needs and meet your expectations.
Q. If my property is jointly owned, can I apply for a loan?
A.
Yes, we accept loan applications from property owners of jointly owned properties. Apply now.
Q. Can I sell my property during loan process?
A.
Yes, customers can sell their property at any time during loan process. The owner will need to inform us in advance after an agreement has been made between the owner and the buyer. We may set the cut-off date as the closing date so that the customer can repay the loan in full on the same day. Click here to apply
X Funds (SME loan)
X Wallet Loan
General
Q. What is an SME loan?
A.
An SME loan from Zero Finance is a loan product designed specifically for small and medium-sized enterprises (SMEs) to help them obtain funding to support operations, expansion, or capital investment.
Q. What are the requirements to apply for an SME loan?
A.
The applicant should be a Hong Kong permanent resident and the applicant company should be a Hong Kong-registered company in Hong Kong, and must submit company registration documents, latest personal and company bank statements, and other relevant supporting documents.
Q. What is the maximum limit for an SME loan?
A.
Zero Finance will determine the most suitable loan amount for the client based on their information and company operation, such as residence, work, and financial status. The loan amount can be up to HK$1,000,000.
Q. How long does the SME loan approval process take?
A.
The approval process can be as fast as one business day. There is no application fee or collateral is required to help your business run smoothly.
Q. What is the repayment period for an SME loan?
A.
Zero Finance provides SME loans with flexible repayment terms depending on your needs.
Q. Does an SME loan require a guarantor or collateral?
A.
The application procedure for an SME loan from Zero Finance is simple and does not require collateral.
Q. Are there any application fees or handling fees for the SME loans?
A.
Zero Finance does not charge any application fees or other handling fees for SME financing loans, there are no hidden charges.
Q. Can I apply for a SME loan if I have been bankrupt before?
A.
As long as there is sufficient documentation, even if the applicant has been bankrupt before, the record will only be used for reference.
Q. Will a poor credit rating affect the approval result?
A.
No. The approval result depends on the industry in which your company operates, whether sufficient information is provided etc.
Q. How to apply Zero Finance SME financing loan?
A.
Customers can apply for a loan via Zero Finance Service Hotline + 852 2531 0333, WhatsApp +852 2531 0331 or Email cs_web@zerofinance.hk. For details, please contact our customer service hotlines.
