FirstPeso

When facing short-term financial pressure, many users in the Philippines turn to online loan applications like FirstPeso. Operated by FIRSTPESO LENDING INVESTORS CORP., the platform advertises fast loan disbursement to e-wallets or bank accounts without collateral.

However, behind the convenience of getting quick financial assistance are numerous serious complaints from borrowers. Although FirstPeso has a registered business entity, the platform has faced allegations involving excessive interest rates, high hidden fees, and abusive debt collection practices. Before applying for a loan through firstpeso.com, it is important to carefully review the information below to better understand the potential financial and privacy risks.

What is FirstPeso and How Does It Work?

FirstPeso is an online lending application (OLA) that previously had both Android and iPhone applications. The apps are no longer available, and the service now operates through firstpeso.com to provide short-term loans without the lengthy procedures associated with traditional banks.

Key Features & Loan Terms of FirstPeso

Actual loan amount received: Although FirstPeso advertises loan amounts ranging from PHP 2,000 to PHP 20,000, first-time borrowers may reportedly receive only around PHP 1,000 to PHP 1,500 after deductions and fees.

Loan term: The advertised repayment period ranges from 91 to 180 days. However, some borrowers have reported being required to repay the principal and interest within only 7 to 14 days.

Registration requirements: Applicants are required to have an active Philippine phone number, at least one valid identification document such as a UMID, driver’s license, or passport, and a smartphone. The application may also request access to various device permissions before allowing the registration process to continue.

Is FirstPeso SEC Registered? The Legal Status in 2026

When researching whether FirstPeso is legit or scam, its legal status is one of the first things borrowers should check.

FirstPeso is operated by FIRSTPESO LENDING INVESTORS CORP., with SEC Registration Number CS202013043 and Certificate of Authority (CA) Number 4073.

Lưu ý quan trọng về tư cách pháp lý: Việc có số đăng ký SEC chỉ cho thấy công ty đã được đăng ký là một thực thể kinh doanh hợp pháp. Điều này không tự động có nghĩa là mọi hoạt động liên quan đến đơn xin vay vốn đều tuân thủ luật hoặc quy định bảo vệ người tiêu dùng.

Therefore, borrowers should look beyond company registration and carefully examine the actual loan terms, fees, privacy practices, and debt collection methods before accepting a loan.

The Dark Side of FirstPeso: User Complaints & Risks

Reports from borrowers and discussions on online forums have raised concerns about several aspects of borrowing through FirstPeso.

High Interest Rates & Hidden Fees

The actual cost of borrowing from FirstPeso may be affected by various fees and deductions.

Large deductions before disbursement: For example, if a borrower is approved for a PHP 3,000 loan, the amount actually received may be significantly lower after service fees, management fees, and processing charges are deducted.

Late payment penalties: Borrowers have also reported concerns about substantial penalties after missing repayment deadlines. Additional charges can cause the total amount owed to increase quickly.

Data Privacy Concerns

The application has been reported to request access to sensitive device information, including contacts, SMS messages, photos, and location data.

Borrowers should carefully review the permissions requested by any lending application before granting access, particularly when those permissions involve personal contacts or private information.

Debt Harassment and Cyberbullying

Some of the most serious complaints associated with online lending applications concern aggressive debt collection practices.

Reported complaints involving FirstPeso include:

• Sending repeated messages or making calls to relatives, friends, or colleagues listed in a borrower’s contacts.
• Sending threatening or insulting messages from unidentified phone numbers.
• Threatening to publicly shame borrowers or share personal information and identification documents online.
• Using allegations of fraud or other accusations to pressure borrowers into making payments.

These reports should be documented carefully because individual complaints may vary, and borrowers should distinguish verified incidents from unverified claims posted online.

What to Do If You Are Harassed by FirstPeso?

If you are experiencing harassment or aggressive collection practices related to FirstPeso, consider taking the following steps:

1. Protect Your Device and Personal Accounts

Review and revoke unnecessary application permissions through your phone settings. If the application is no longer needed, consider uninstalling it. You should also review the privacy settings of your social media accounts, especially Facebook, and limit access to personal information where appropriate.

2. Collect Evidence

Do not immediately delete threatening messages or call records. Take clear screenshots showing the date, time, phone number, and complete message content. Keep copies of relevant documents, loan agreements, payment records, and other communications.

3. Submit an Official Complaint

Depending on the nature of the complaint, borrowers in the Philippines may consider contacting the appropriate government agency:

• Securities and Exchange Commission (SEC): Complaints involving lending companies and online lending activities may be reported through the appropriate SEC complaint channels.
• National Privacy Commission (NPC): Privacy-related complaints, including potential misuse of personal information, may be reported to the NPC.
• PNP Anti-Cybercrime Group: Cases involving online harassment, threats, cyberbullying, or other potentially criminal online activity may be reported to the Philippine National Police Anti-Cybercrime Group.

Final Verdict: Is FirstPeso Legit or a Scam?

FirstPeso has a registered corporate entity and identified SEC registration information, but legal registration alone should not be treated as proof that every aspect of a lending service is safe or suitable for borrowers.

The reported concerns surrounding loan deductions, repayment terms, privacy permissions, and debt collection practices are important factors to consider before submitting an application.

If you are considering borrowing from FirstPeso, carefully review the total repayment amount, all applicable fees, repayment deadline, privacy permissions, and collection policies before accepting any loan. Keep copies of your loan documents and payment records, and seek help from the appropriate Philippine authorities if you experience suspected unlawful harassment or misuse of personal information.