We have collected and analyzed online Payday loan experience to provide guidance on how to properly handle Payday loan online .
The Payday loan on the Internet at the click of a mouse has been common practice in the USA for many years, and this business has also grown massively in Germany. Nevertheless, one is still very conservative in this country in terms of financial transactions – it can save a lot of time and money .
Online Payday loan experiences: what to look for?
According to our online Payday loan experience, if you are a bit attentive and mindful of a few things, you can easily rule out duping providers. Our notes come from a long experience in Payday loan and financial transactions .
The statistics below show that as recently as 2013, only 14% of consumers applied for their Payday loan s online, but today these numbers look very different. According in 2016, 42% of consumers made their Payday loan inquiries mobile , ie via smartphone or tablet.
1. Orient yourself to comparison pages
One of the most important steps to getting a good and reputable Payday loan online is, according to our online Payday loan experience, orientation on a good comparison page. Above all, it is the well established providers who compare Payday loan s on the Internet .
As an article by Wallstreet Online describes it: “Before deciding to apply for a quick Payday loan , you should get detailed information about the bank. Again, the internet can be very helpful. There are a large number of portals on which to read experience and test reports. “
On our site you will find extensively researched articles and tests on the various providers, which are a good way to orientate yourself.
2. Beware of Facebook advertising for lenders
You should be cautious with lenders who advertise on Facebook . Although this is not a problem in itself, our online Payday loan experience has shown that the controls here are deficient. For example, we have often found extremely questionable providers via Facebook advertising.
Find out more in our article unserious Payday loan providers on Facebook .
3. Pay attention to non-bindingness and make no advance payments
But how do you recognize these questionable providers? One of the most important features of dubious lenders is the requirement for a prepayment before there is any real offer for a Payday loan .
So you should never have to pay anything unless you have a Payday loan offer from a bank on the table that meets the desired conditions.
4. The big banks are performing well
From the customer experiences ago are the offerers, which act either as a subsidiary of a large branch bank or the branch banks themselves the most reliable and offer the best advice .
It does not matter whether you take out the Payday loan from these banks online or directly in the store, but in the branch often additional processing fees incurred. For example, applying for Payday loan on the internet can often mean savings .
Dangers of Payday loan s in the network
Reading through online Payday loan experiences on the net to find out where potential threats to the consumer lurk, one first comes across the following points:
1. Hidden fees
One of the really big issues that you can read about again and again is that somewhere in the documents in front of the customer, there are hidden fees that are kept below processing fees . Often these amount to more than 50 € and therefore make the conditions much worse, especially for smaller amounts, than initially promised.
So it’s very important to read through contracts sent to you before signing them. And should such hidden charges actually occur, it is advisable to look for another provider in general .
Again, it should be noted that one has to worry less about larger institutions and well-known providers than, for example, with small private intermediaries of Payday loan s.
2. Poor care
What is also criticized by many providers, is a bad customer support . Especially the email traffic often leaves something to be desired, either there are no or only generally held, unsatisfactory answers.
But most major providers, , also offer free telephone advice , which you can turn to in case of need.
In our list of different providers that provide serious Payday loan you can easily find out about many providers.
Conclusion about online Payday loan experiences
Online Payday loan s are becoming more and more common and are increasingly replacing the classic branch Payday loan . Partly you can save a lot of money and, for example, use our online Payday loan comparison , can definitely be worthwhile .
As with all halfway new business fields, there are always a few black sheep – that’s why we also founded our site . If you use a few good consulting and comparison offers on the net, you do not have to worry about getting to the wrong provider.