Is it necessary to provide bank account number for online payday loans ?

I have decided to apply for payday loans online. Everywhere there is a requirement of bank account number. I don’t think this is safe to give bank account number publicly like this on internet. Can I get money through check? I don’t understand, I need it urgently so reply me soon.

304 day ago

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Answers (2)

brokenheart

it is must to provide the valid bank account number which should be checking account in payday loans with no teletrack. Lenders are limited to not demand for credit check and any cosigner to apply for payday loans. But to be in safe part, they demand for bank account. As if you will not able to repay loans amount at the time then they can collect it from your bank account.

Posted 304 days ago

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rozycozy

Giving saving bank account number at the time when you are applying for payday loan online is a requirement set by the lenders. This is must to provide your bank account number not only to transfer money from lender side but it is applicable with you also. This is also must because lender first checks the borrower bank account that it has good standing or not. It should not be overdrawn at the time of the loan.

Lender checks the status of the bank account. It should be in good standing because if you will not repay the loan then lender will access account and can collect any money and fees which is payable. As far as security is concerned then check website where you are providing bank account. If it starts with http:// and has symbol of lock then it is safe to provide.

Posted 304 days ago

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