In this article you will find some very useful information if you are Italian resident abroad. Receiving a loan abroad is not particularly easy, but there are valid solutions that can be for you. So let’s see how to apply for payday loans outside Italy, with the main financing options available.
Payday loans abroad: what are the main problems
To date, many are forced to “flee” from our country in search of a valid job opportunity. For this reason it is important to deal with this particular category of potential clients for banks and financial institutions. In the event that an Italian resident abroad is looking for a payday loan, is it possible to do so without any problem? Unfortunately, the answer to this question is no, but fortunately there are some valid solutions that will allow you to get the amount you want. There are several reasons why different lenders are not willing to offer loans abroad. The distance between the applicant and the bank’s headquarters that must provide the financing is a considerable problem.
First of all, we must consider that not all banks offer their customers the possibility of requesting a payday loan without having to go to a branch. Despite the strong digitization of the banking world, with the development of online services through which you can manage your account directly from your home pc, for the loan application sometimes it is still necessary to go in person to sign the contract. This is because for the bank these are rather delicate transactions, for which it is therefore necessary to verify in person the identity of the applicant and carry out the evaluation of the creditworthiness. Despite this there are several banks that offer their customers the Internet Banking service, to perform any kind of transaction related to their account in a simple click. Regarding the request for online funding, this is usually only possible in the case of pre-assessed customers, ie those who may have already received a payday loan from the same bank and are therefore deemed reliable.
The first problem of loans for residents abroad is therefore that of the request. Despite this, those who do not have the possibility to go to a branch of the bank present in Italy will still be able to overcome this problem thanks to the Internet Banking services made available by various banks. However, it is not only the problem that makes it difficult to access a loan from abroad. Residency outside our country constitutes a further risk for the bank that must provide the loan itself. It is no coincidence that this is one of the fundamental requirements that is reported on the regulation of payday loans of all the major banks and financial institutions. The reason for this restriction is very simple, and concerns the possible non-payment of installments by the customer who received the loan. In the case of residents abroad, it is much more difficult for the bank to proceed by legal means in order to obtain the reimbursement that is due to it.
How to apply for payday loans from abroad : necessary guarantees
We have therefore seen that requesting a loan from abroad is not particularly simple. In this article, however, we want to analyze the possible solutions that allow us to get around the problems described above and get the desired amount of money. On the basis of what has been said so far, it should be noted that the best solution for all living abroad is to contact one of the local banks. In this way the mode of request will be in all respects similar to those that we find in Italy for payday loans. So in case you live permanently outside of Italy you should not contact an Italian bank. The problem, however, arises when your situation is that of a temporary residence outside Italy. In this case a lot depends on the form of financing you are interested in, in particular from the point of view of the duration of the loan.
In the event that the duration of the loan is not particularly long or in any case your idea is to stay in your country of residence longer than the duration itself, then the following is valid: the best solution is to contact one of the local banks or financial institutions. If instead you plan to return to Italy before the full repayment of the loan you are interested in then the situation changes. This is the case when you need a payday loan from abroad . How to apply for a loan from abroad in Italy? First of all, for the financing of this type all the rules of the classic payday loan apply. So it is essential to have an income from work or a pension from which to deduct the repayment installment that will be fixed each month. Without this fundamental requirement, it will be impossible to access the loan abroad.
As you probably already know, for classic payday loans, employees and retirees do not need additional guarantees, given that it will be enough to pay the pensioner’s salary or payslip. In the case of loans from abroad, however, this is not enough, because as we said the bank must be protected in case of insolvency. For this reason, in order to access the financing, it is necessary to present a guarantor residing in Italy. So a relative or a friend can allow you to get the amount of money you need, guaranteeing for you. The guarantor must take responsibility for any unpaid repayment installments by the beneficiary of the loan. However, this is only a guarantee that the bank needs to protect itself from any non-repayment. Considering that the repayment installments are automatically deducted from the salary or pension, unless there are unwelcome surprises, the guarantor will never be called into question.