One of the problems associated with online money lending is verification of the client who applies for money. In the case of regular bank customers, there is no such difficulty, but new clients who have never borrowed online money from a bank or a non-bank company must undergo a verification process.
Internet payday loans are a very convenient solution – we do not have to leave the house or office to make an application, and then receive money, which is transferred directly to a bank account.
However, due to the fact that formalities are carried out online, special security is necessary. The risk of borrowing a stolen ID card or fraudulent personal data increases. Therefore, it is very important to verify the customer so that the payday loan company or the bank know that they actually lend money to that person. To this end, several possible verification processes are carried out.
Types of verification when taking out a payday loan on-line:
• verification by transfer from the customer’s bank account
• verification during the courier’s visit and signing of documents
• verification using the Giro check
• personal verification in the facility
The most convenient form of verification is the one that runs on-line with the use of transfers. Then we will be able to have an on-line payday loan really quickly and without the need to wait for a courier or visit the post office.
Credit thanks to quick on-line verification
On-line verification is carried out by making a transfer from a bank account to the account of a payday loan company or bank. Verification is effective when the data in the bank transfer is identical to the data in the online payday loan application. Therefore, we can not perform a verification transfer from a bank account that does not belong to us – then the application will be rejected.
We can do this kind of verification yourself – we simply log in to your bank account and then we will transfer the transfer to the indicated account . However, there is a faster solution, thanks to which we omit the waiting time for accounting. It is worth remembering that in the case of interbank transfers, the posting time is usually one business day, excluding weekends and other holidays. I am talking about verification , that is through a company dealing in the service of fast Internet transfers.
On-line verification is not only speed, but also convenience. It takes place in the same way as in the case of quick transfers when shopping on-line. The transfer form is filled in automatically, so there is no risk that we will make mistakes during verification. Thanks to this verification can be done even in about 15 minutes, so the money on the account with a bank payday loan we can have at home even sooner.
Verification available in selected payday loan companies and banks
It is worth pointing out that the verification is not available in all payday loan companies. So let’s check what we have to verify data before submitting an online payday loan application.