Online loan borrowing – how to do it safely?
Check the credibility of the loan company
Online shopping, mobile banking and electronic loans are symbols of modernity. Financial Technologies is storming the hearts and wallets of Poles who are enthusiastic about e.g. cashless payments. Online loans are also gaining more trust. In the expansion of the non-banking sector, among others, help current legal regulations that have eliminated the vast majority of dishonest lenders. Thanks to the amendment to the Consumer Credit Act, it is easier to check the credibility of a loan company. A helpful tool is the Register of Loan Companies supervised by the PFSA. Entry in this Register is obligatory for any non-bank institution in Poland. However, at the moment the list is not yet complete, because companies have time to report their activities by January 2018.
However, since 2015, there has been another fully functional Register under the aegis of the Polish Association of Loan Institutions. The need for such an institution has been postulated by lenders for some time. In the absence of action, the legislators took matters into their own hands. The Industry Register of Loan Companies kept by PZFP collects virtually all the largest non-bank institutions. It should be one of the first sources to verify the credibility of the lender. Apart from the undoubtedly useful role it plays in raising consumer awareness and safety, it has one major drawback – signing in to the Register is voluntary.
An additional method that should confirm your belief that you are dealing with an honest company is to check its data in the National Court Register. The information found in the Register of Loan Companies found confirmation in the National Court Register? If so, you can trust the lender with a high degree of probability. Remember, however, not to incur financial obligations without thinking. Before taking a loan, it is worth asking yourself a few questions that will let you know if a loan is a necessary solution.
Verification transfer has become a very popular method of checking the identity of the borrower. What is it and why should it arouse your increased vigilance? The verification transfer usually in the amount of PLN 1 or less is used to confirm the compliance of the data entered in the form with the data assigned to the applicant’s account. In this way, the loan company makes sure that the customer does not use the stolen identity. A PLN 1 or PLN 1 transfer prevents the fraudster from entering into a commitment, for which, for example, only proof of data and an online account are needed. Such two-factor authentication has already been introduced by many lenders, e.g. NetCredit, LendOn or Filarum. Of course, verification methods are evolving all the time. You’ll also get online loans without a transfer or loans without a bank account. Some companies process applications with the help of applications that automatically analyze the transaction history on your accounts.
Suspicion should be aroused by companies that expect transfers that are far above the symbolic zloty. Especially if you can’t find too detailed data about these companies. The requirement to submit a several dozen zloty verification transfer may mean that you have come across a fraudster. Such websites often deal with extorting money and it is worth checking them in one of the Loan Company Registers.
Pay attention to the lender’s website
If a company offers an online loan without verification in the debtors’ registers, it will probably require additional security from you. Some institutions, for example, grant loans against collateral or with a guarantor. It is a good solution for people with debts, however, such a financial product is usually burdened with a higher risk, which is also associated with higher costs. Use loans without IKD and Huge as a last resort when you have no chance of getting another benefit.