Most online lending companies use one USD penny to verify the personal data of the person requesting financial support. Such a small amount of transfer to an account specified in the contract is required to be paid by the customer who uses his own bank account to perform the electronic money transfer. All this so that the lender can verify the information that the customer submitted during the application. Do loan companies use different methods to verify data? Is a loan possible without a transfer? Instant payment without a penny transfer is a chance for lenders to gain new customers, but do they use it?
Do I have to make a transfer? Can you make without a penny transfer?
On the one hand, it would seem that making a transfer per penny is a great way to confirm your data, which you usually enter in the online form. Why? When we apply for a payday loan or online loan, we spend a few minutes in front of the computer. It costs nothing to open a new card and make a transfer to the previously agreed data. It costs almost nothing, because we have to transfer one penny to the account of the lender, who usually makes a return transfer, paying the fee after he has granted us the loan.
The lender verifies our identity on the basis of the data contained in the information about the sender of the transfer. That is why it is so important that the bank account from which we make the verification payment is registered in our name, surname and home address. If our data is secure and the order processing time takes a while, what are the disadvantages of this type of verification? On the one hand, it would seem that making a transfer per penny is a great way to confirm your data, which you usually enter in the online form. Why? When we apply for a payday loan or online loan, we spend a few minutes in front of the computer. It costs nothing to open a new card and make a transfer to the previously agreed data. It costs almost nothing, because we have to transfer one penny to the account of the lender, who usually makes a return transfer, paying the fee after he has granted us the loan. So what are the disadvantages of this type of verification?
Alternative solutions for loans with transfer
Not everyone who applies for payday loans has a clean financial situation. What does it mean? It may happen that we intend to use the invoice, which appears as the account taken by the bailiff. However, in such a situation, the chances are that the consumer will receive a positive response on the issue of granting a loan via the Internet without transferring a penny. The second issue is the case when the account holder has a bank overdraft and a blockade to make subsequent transfers, thus generating further debts. Even if you speak one penny! Such a client may try to get a loan just to get up financially. Unfortunately, the bank prevents him from performing any operation, and indirectly the lender, who excludes the granting of payday loans without transferring a penny to the account, offering verification only in this way, causes the consumer to be in a spot.
Many customers, for various reasons, try to receive money not by bank transfer, by transfer, but prefer to get cash directly in their hands. That is why they use the GIRO check transfers, i.e. a quick transfer of money to be picked up at the Polish Post Office upon presentation of an ID card and the check that goes to the customer along with the loan agreement. Some people choose home delivery loans because they don’t have a bank account. In such a situation, an employee of a given loan company makes an appointment at the client’s home and provides cash
Therefore, it is obvious that both if someone has an overdraft or does not have a bank account at all, they are not able to make an electronic verification transfer per penny. Is such a customer deprived of the possibility of receiving a quick loan without a bank transfer? Or maybe there are other forms of verification that make payday loans without transferring a penny available to customers?
Quick loan without verification transfer from Wiselend
Is payday loan possible without transferring a penny? Fortunately for borrowers, there are alternative forms of verification of the application than a transfer per penny. One of the interesting solutions is the application called Wiselend . What is it for? The Wiselend application is a great alternative for customers who have an overdraft and are therefore unable to make a small verification transfer per penny. A loan without transferring a penny with the Wiselend application is available when applying at such companies as: GoodGrosz, PHCredit.
How exactly does the Wiselend application work ? It involves an encrypted SSL connection to our bank account in a few seconds. The connection meets the highest security standards. From the drop-down list, we must select the bank where we have an account, and then log in to our online banking . Wiselend is really safe. The lender receives only basic information about us, i.e. personal data and account number to pay the loan, as well as data on the history of transfers. As a result, an initial assessment of creditworthiness is also possible. If the data from the bank agree with the information we submitted when completing the loan application, we will receive a quick response about the successful completion of our efforts for financial support. Thanks to this solution, an online loan without transferring a penny has become real. It is also worth noting that Wiselend does not charge any additional fees for using the service.
More information about the application and its operation can be found in the article WHAT IS Wiselend?
For customers without an account, the GIRO check?
Customers who do not have a bank account also have a chance to receive a loan or payday loan online without transferring a penny. All they have to do is select companies that do not require a verification transfer and transfer the money via the GIRO check mentioned earlier. One such company is Rotkomat, a lender providing long-term loans, up to $ 10,000 for 24 months.
Let’s not forget that the choice of form of payment of the loan takes place when filling out the application. That is why we must decide in advance about using the GIRO check. In this situation, the contract is often delivered during the courier’s visit, in which case he gives us the appropriate check. Otherwise we will receive it by e-mail and the person carrying out the order will verify the identity. With the GIRO check received, you should go to the nearest branch of Poczta Polska, where, regardless of how we received the document, we show the employee an ID card. If everything is correct, the money will be paid to us at the branch or Polly Bank. It is worth considering which form of data verification is most convenient for us, whether we have the possibility to receive payday loans without a penny transfer.