Loan companies are concerned with solving all the needs of their real and potential clients. For that reason they are always offering new alternatives that allow people to access the financing they need.
One of those alternatives are loans, payday loans without a bank account. If you want to know more about them, continue reading this article.
Regardless of the type of financial product you want to hire, it is always necessary to know how to compare the terms of the loans. This will help you obtain the ideal financing that suits your needs.
What is an online loan without a bank account?
Loans without a bank account are a cash financial product usually granted by private financiers. These loans are also known as cash advances, because the loan is based on future income received in your employment.
Online loans without a bank account can be both cash and in the form of a prepaid card. The private FinTechs that grant them seek to provide liquidity facilities to people who do not have a checking account.
Requirements to obtain a quick loan without a bank account
The requirements may vary depending on the financial institution you hire, but usually include the following:
- Age :
Be of legal age and not be over 75 years old.
- Identity :
Have a valid identity document and be a Mexican citizen.
- Credit History :
Do not appear on the credit bureau.
- Guarantee or guarantee :
Having a guarantee that can be a high value object, a payroll, etc.
- Contact forms :
Have your own telephone and email so that the credit company can contact you.
Advantages and disadvantages of loans without a bank account
|You will get the money in less than 30 minutes after submitting your application.||In most cases you will need to have a guarantee or guarantee to receive the amount.|
|You do not need a bank account to receive the money. The amount can be granted in cash or as a prepaid card.||The amounts you can request will not be very high.|
|The FinTech that these financial products usually offer are safe and reliable.||You must have a positive credit history.|
Tips to apply for a loan without a bank account
- Compare :
Always compare offers so you can make sure you choose the best one.
- Honesty :
Complete the application and registration processes with true information. If you don’t, they can deny you the loan.
- Punctuality :
Be sure to pay interest and fees on time so as not to incur extra late fees.