Account transfer – the safest form of verification
If the loan companies ran stationary outlets or were able to verify their credit history at the Credit Information Bureau, they would not have to charge any fees. However, most lenders operate online. Therefore, another way was needed to check the client’s identity, so as not to accidentally burden someone with the obligation to repay the liability, while the person was the victim of the theft of an identity document or personal data.
The verification fee is one-off
The verification fee is a transfer from the bank account of the person who submits the loan application. It is necessary for the applicant to be the account holder. Compliance of the data entered in the application for instant payday with information visible during the transfer is one of the most important conditions for issuing a positive decision by a non-banking company. The fee is a one-time payment, which means that it is only incurred when applying for a loan for the first time in a given company. However, it is not refundable, even if no money is awarded.
PLN 1 or PLN 0.10 – the amount of the verification fee
The verification fee is usually PLN 0.01 or PLN 1.00. The exception is Wonga, which makes a loan conditional on making a PLN 10 transfer.
The lender’s bank account speeds up the loan process
It is also important in which bank we have an account. If, in the same way as the lender, when making a transfer, we can count on faster verification of the application, and thus wait less time for the money to appear on your account. Thanks to this, it can take as little as 10-15 minutes from issuing a positive credit decision to posting the transfer.
It is worth remembering that loan companies operating in accordance with the law usually do not charge a verification fee higher than PLN 1. Therefore, when we come across an offer in which the requirement to receive an online loan is subject to incurring a high initial fee, a warning light should come on in our head. With a high degree of probability behind the service is a dishonest entrepreneur who preys on credulity and the need to quickly raise additional money.