It often happens that we need quick cash, and the financial situation prevents us from putting down money. We are also afraid to apply for another payday when our accounts were taken over by a bailiff, which after receiving the funds automatically collects them for paying off debts.
In this situation, it is worth getting acquainted with the parabank service, which is a loan without your own bank account. This type of solution was created for people who are not currently able to pay off their outstanding debts and need urgent financial assistance.
This may be due to an unexpected expense, e.g. as a result of illness or car accident, when we need money for treatment. What is an online loan without a bank account and how to get it?
Online loan without a bank account – offers
An online loan without a bank account is very different from traditional payday loans which we can get from loan companies. This solution primarily gives you the opportunity to get money into your own hands, which is definitely appreciated by people with a bailiff.
The offer of payday loans without an account is growing on a large scale, so we can choose the best service that will save our home budget. Online payday loans without an account are not only convenient for people who want to quickly obtain cash. It is also a great solution in the absence of time to personally go to a stationary parabank point.
If we want to save time and apply for a loan online without a bank account in almost a few minutes, all we have to do is fill out the form on the website of the selected non-bank company. However, it is worth first to thoroughly analyze the financial market to choose the best offer.
Payday loans offers without an account
To facilitate the task of choosing a loan without an account, it is worth using a convenient tool, which is the ranking of payday loans. Thanks to this option, we can easily obtain a list of the best offers from a given period. The rankings usually include 10 items in which you will find the most important information about loans.
So we can see, among others with the maximum loan amount, payday payback period, repayment amount and monthly installment. This is necessary information that every potential borrower should know before signing a contract with a parabank. The APRC percentage is also included in the rankings.
What is the APRC ? This abbreviation hides the Real Annual Interest Rate, which is the total cost of payday loans that each borrower must bear. All fees and additional fees are included in this value. For this reason, before choosing the payday loan offer, you should know all the details about the APRC.
APRC and payday loans
We often find the opinion that the APRC only covers banking services. This is a myth, because in many cases the amount of the Real Annual Interest Rate for a loan from a parabank may even be several times higher than when we want to take a loan.
However, it is dictated by the wide access to payday loans, which can be taken by almost anyone today. Loan companies are far more efficient and less rigorous in carrying out the credibility verification process than banks. In the case of the latter, unfortunately, we can often be refused a loan due to debts or lack of creditworthiness.
To get a bank loan, we must meet a number of conditions, which is definitely not easy. Parabanks do not require presenting a heap of documents showing the borrower’s income or financial situation. To get payday loans without an account, all you have to do is confirm your personal details.
However, there is good news for people who want to apply for payday loans without an account and are afraid of the high value of APRC. Non-bank companies offer loans to new customers for free.
This means that we can borrow money in a specific amount and give the same amount in the period to be determined in the signed contract. Therefore, we do not have to pay additional commissions and fees for parabank services. It is an extremely convenient solution for people who have not taken payday loans in a given loan company before.
Loan without an account – how does it work?
The instant cash loan without a bank account can be transferred to the borrower in two ways. The first option is to receive funds using a giro check, which is often the solution chosen by people with a bailiff. The giro check allows you to collect borrowed cash at your chosen post office.
After a positive decision of the loan company, the applicant receives an SMS with a generated code, which should be presented along with the ID card at the post office. Based on our personal data and showing a pin, funds are transferred to your own hands. Loans without a bank account can also be withdrawn at our home.
To this end, we must arrange a visit with a representative of the loan company, who will visit us in the apartment or in the agreed place. After signing the contract with the parabank, we receive cash in hand, so that funds are not taken over by the bailiff.
Quick cash for those in debt without a bank account – how to infer?
At present, debtors do not have to spread their hands and fear the bailiff will take over the money. Fast cash for those in debt without a bank account allows you to raise money in an efficient and trouble-free way. All you have to do is fill out a special form in which you need to provide the amount you want to borrow and the repayment period.
Then the parabank will want to check our identity, which usually takes the form of an electronic transfer. If we want to quickly confirm the data, all we have to do is make an express transfer to the bank account of the loan company.
We can also speed up the entire process by using mobile applications that are increasingly being introduced to parabank offers. By allowing access to e-banking applications, we will confirm our identity in just a few seconds.
Loan without a bank account – other verification methods
However, what if we do not have an electronic bank account and want to get a loan as soon as possible? A loan without a bank account allows you to verify data by phone.
This solution is most often used by older people who do not support electronic banking. However, this is also the method chosen by those who want to save time. If we choose parabanks that have an account in another bank, and we want to get a loan as soon as possible, we realize that the transfer will not be delivered expressly.
It may take several hours, and even funds may not be credited to your account the next day. In this situation, a loan without a personal account with proof of identity over the phone will be the perfect choice. When talking to a representative, we only provide the data that appears on your ID card. Thanks to this, we can efficiently confirm our identity, and thus the money will reach our hands faster.