Cash Converters
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| Public | |
| Traded as | ASX: CCV |
| Industry | Retail Pawnbroker, finance |
| Founded | 1984 in Perth, Western Australia |
| Founder | Brian Cumins |
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Area served
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Australia, UK, South Africa, Canada, US, Spain, France, New Zealand |
| Total equity | EZCorp 30% of shares |
| Website | www |
| Public | |
| Industry | Retail |
| Founded | 1994 in Cape Town, South Africa |
| Website | www.cashconverters.co.za |
| Public | |
| Industry | Retail |
| Founded | 2001 in Petaling Jaya, Malaysia |
| Website | www.cashconvertersasia.com |
Cash Converters International Limited is an Australian retail pawnbroking company which also provides small financial loans. It has international franchise operations in many countries such as United Kingdom, South Africa, Canada, United States and Spain.
This company began in Perth, Western Australia, in 1984. It was founded by Brian Cumins and a group of partners. In four years, the partners were operating seven outlets in the Perth area.
Most Cash Converters stores offer a number of services in the retail, pawnbroking and personal finance sectors.
BuyBack agreement - This is a sale and repurchase agreement offered in Cash Converters stores in the United Kingdom. This service allows a consumer to sell an item of value to the store with the option to repurchase the item within a specified time period for the initial purchase amount plus a fee. Currently the fee is £32.50 per each £100 of the purchase price. The consumer can extend the agreement for a fee.
Cash Converters International (CCV) is a franchised retail network listed on the ASX and London Stock Exchange. Cash Converters trades in 16 countries throughout the World. Cash Converters began trading in the United Kingdom in 1992, New Zealand in 1993, South Africa in 1994, France in 1994, Canada in 1995, Spain in 1995 and the United States in 1994.
A number of countries, including Australia and the United Kingdom, operate online retail channels with stock being sold and/or auctioned. Listed stock carries warranties.
Cash Converters UK were the first to hold an online charity auction for the charity Dreams Come True.
Cash Converters charge a current rate of interest of 33% (35% in Victoria, Australia) per month, making their annual interest over 350% on the principal loan.
Cash Converters UK charge a flat fee of 32.5% on their Buybacks with an option to pay an extension fee after 28 days.
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Wikipedia