Quick payday loan from the Internet

A quick payday loan is mainly granted on the Internet – there, in particular, the application should be quick and easy: the loan application is filled out online, whereupon a provisional loan approval is usually given. A quick payday loan must always be a so-called “instant loan” that is only given to certain people.


Prerequisites for quick money

quick money

Fast money is only available to those who can afford it – actually paradoxical, since above all people who have no or too little money need external funds to achieve their goals. However, instant loans are actually aimed at more or less well-paid workers and civil servants who do not generally have too little money, but simply cannot raise a certain amount ad hoc.

It is therefore assumed that the borrower is an employee (or civil servant) and is employed on a permanent basis, ie not on a trial or fixed-term basis. By the way, trainees are not understood as employees, even if they have a fixed income. Reason: an apprenticeship contract is always limited and the earnings of the apprentice are foreseeable accordingly.

Even self-employed people cannot take out instant loans on the Internet, because it inevitably takes longer to be able to assess the creditworthiness of a self-employed person (trader or freelancer). The assessment of the creditworthiness is also the reason why the applicant can only receive a preliminary approval of his loan with a quick payday loan online: all information must be checked by the bank.

This only works if the applicant sends the required documents (account statements, pay slips, copied employment contracts, etc.) to the lending bank, using the PostIdent procedure.Only in this way is it possible for the credit institution or, optionally, the credit agency that takes over the credit check for the bank, to assess whether the applicant can repay a loan or not, which accordingly contributes to the granting of the loan approval .

And the Credit Bureau?

quick loans

An instant loan on the Internet is not necessarily a non-Credit Bureau-free loan – it is interesting in this regard where the lending bank is located. If the bank is a foreign bank, for example if the bank is based in Switzerland, Belgium, Austria or Spain, no Credit Bureau information will be obtained.

If, on the other hand, it is a Financeline Bank, Credit Bureau information is inevitably obtained in the course of the credit check. Incidentally, negative Credit Bureau entries are not necessarily a reason for refusing to grant a loan, rather the overall situation of the potential borrower is important: how much does he earn? How much is its fixed expenditure? Can he even afford a loan?