An instant credit with cash payment is offered in every “credit rating class”. The contribution deals with how fast an instant loan really is, when the cash is held in the hands.
Instant credit with cash payment – what is it exactly?
An immediate credit with cash payment is offered in advertising for practically every credit rating. The original idea of being able to combine an instant loan with subsequent cash payment comes from the branch banks’ field of business. An installment loan, although approved by the clerk, is not immediately available. The money must first go to the correct account within the bank. This process can take up to three days. If you want to get your money faster, you have to overdraw your checking account for so long.
The idea was to save customers with very good credit ratings and unnecessary interest. There is no extensive credit check for the instant loan. After approval, the money can be taken away immediately in cash from the cash register at an internal clearing account. Solvent credit customers are spared waiting times and expensive overdraft interest.
Unfortunately, an online bank cannot offer this perfect service so easily. The cash payment counter is missing. Every direct bank only has the option of offering a “real” instant loan. An online instant loan is a small loan that is approved under simplified test conditions. There is no submission of diverse documents. In most cases, only proof of income and a clean Credit bureau are required. The cash payment does not necessarily have to be left behind with the “ordinary” online loan.
Cash payment for instant loans – possibilities
If you want to apply for your instant credit with cash payment via a credit comparison, you should not concentrate on pure direct banks. Inexpensive interest offers can also be found at chain stores. There is a chance to receive a cash payment without foregoing the cheap online interest. First, the loan application is filled out online. However, it does not go to the post together with the application, the required receipts and the preliminary loan approval. The path leads to the next branch of the loan provider.
With many loan providers, it is possible to submit the loan application in any branch. In most cases, the application is checked on site. In this case, the cash payment can be arranged at the counter, even without keeping a salary account with the bank concerned. If you are lucky, you can even wait for the cash payment (source credit forums). Official times are only available from Cream bank. She promises to complete the procedure within about three working days.
Cash payment for Credit bureau-free instant loans
A good reason to look for an instant cash loan is when the checking account is having trouble. People who are in such a financial tight spot are looking for quick cash. A cash loan is often advertised as a Swiss instant loan with postable payment or a Swiss loan with cash payment. There is always a credit broker behind this advertisement. As far as is known, there has only been one foreign bank since 2010 that grants legally Credit bureaufree loans for Germans. SIGMA Kreditbank AG from Liechtenstein does not advertise.
If the Credit bureau-free financing is applied for directly, there is also no application for an immediate loan. The lack of this option is not a bad service provided by the credit bank. It is an open card game. An instant loan is defined as a loan without a complex verification process. In the case of a Swiss loan, the creditworthiness is not checked via the Credit bureau. But the process is by no means simple and uncomplicated. The time required for the test is difficult to estimate seriously.
Postable instant credit without Credit bureau
The borrower expects an instant loan with cash payment to be particularly quick. This can also work for a loan without Credit bureau. Many borrowers on the forums report a loan payment within just seven business days. However, other borrowers had to wait four weeks or more before the money was finally available. The possible time delays are mostly due to the mail. A normal letter can take up to six days to get to Liechtenstein.
Part of the credit check includes access to the public debt register. The directory is not a central database that can be accessed online. The request must be made in writing in the relevant judicial district. If the court requests an inquiry by post and not by fax, there may be a 12-day mail route between inquiry and response. Another delay is caused by the postable payment. Compared to the transfer, an additional six days must be taken into account.