More and more of our countrymen are reaching for non-bank loans, which are available online. For many, this is a great alternative to traditional bank loans. What’s more, non-bank companies are more willing to provide financial support than banks. Unfortunately, the ease of lending has also become an object of interest for fraudsters. Therefore, lenders have introduced a variety of methods to verify customer identity to prevent loans being fraudulent against third party data. The most common method is verification transfer. Sometimes, however, the borrower’s account may not have a penny or even the balance may be negative. Are there any chances to get an online loan then?
Instantor as an alternative to verification transfer
In the absence of funds on the account, Instantor may be a solution. It is a special program thanks to which the customer’s identity is confirmed quickly, easily, comfortably and safely. The borrower’s bank account is subject to verification. It is necessary to log into online banking so that Instantor can confirm the compliance of the data provided in the application with the data of the bank account owner. Loan companies are increasingly using Instantor and similar solutions.
Advantages of the Instantor application from the borrower’s point of view
The main advantage of the Instantor application is that the customer does not have to make a verification transfer. Thanks to this, a loan can be applied for by a person who has no funds on their account or the balance on their account is negative. The advantages of using the application also include reduced waiting time for a loan decision. The payday company can verify both the customer’s identity and his creditworthiness on the basis of inflows to the bank account. All you need is to have regular receipts on your account. Then the lender is more likely to grant a loan to such a client.
Advantages of the Instantor application from the lenders’ point of view
More and more lenders are using Instantor or other related applications. In this way, non-bank companies are able to reach more customers. It is the potential borrower who can choose whether he wants to make a traditional verification transfer or use the application verifying his identity. The undoubted advantage of the Instantor service is also the reduction of time needed to make a loan decision. The verification transfer does not always arrive immediately. In addition, the application also checks the creditworthiness of the person applying for a loan.
Is Instantor a safe solution?
The need to log into online banking raises some concerns for some customers. Is this solution absolutely safe? This is a natural question. Instantor is a solution that has been used around the world for some time. The application is completely safe and convenient. The data provided by the client is secured using special SSL encryption. This information is also not stored anywhere. Instantor therefore does not save any data or forward it anywhere. Operation of the application is based on the provisions of applicable law. The mere fact that more and more non-bank companies are reaching for this solution is proof of its effectiveness and security. Many banks operating on the Polish financial market also use this service.
Instantor loans – which lenders offer them?
In Poland, apart from the Instantor application, the KontoConnect and Kontomatik services are also popular. In today’s article, however, we will focus only on loan companies that provide loans with Instantor’s identity verification. Here are the lenders who check the customer’s credibility in this way:
- Online payday loan,
- Red heat.
The first four lenders from the list above offer free payday loans for the first customers.
Instantor application – is it worth using it at all?
A verification transfer is one of the methods by which lenders are able to confirm the identity of the person applying for a loan. Its amount is a symbolic amount – usually it is 1 penny or 1 dollar. Despite the fact that we currently use online banking and do not have to go to the post office or bank to make the payment, it may take some time for the verification transfer to be made. It is necessary to log into your online bank account, complete the transfer order and check the correctness of the entered data. Then wait until the transfer reaches your loan company’s account. Only then will the lender begin the next stage of the loan process. The main idea of an online loan is that to get it, you don’t have to leave the house and the money in your account should be as soon as possible. The verification transfer slightly delays the whole process. Only after using the Instantor or other related application can we say that the online loan is actually instant.