Non-bank private companies are often used when money needs to be raised quickly, even within 24 hours. Most of these companies use bank transfer to deliver money, as this option is very simple for both the company and the customer. The customer does not have to go anywhere and can use the money for example by credit card or send it via electronic banking to another bank account.
However, despite these advantages, this payment option has one disadvantage. The bank transfer process, through which the loan is provided within 24 hours, can take up to 2 business days for banks. Sometimes this delay for borrowers is unacceptable and money is required within 24 hours.
Money is most often transferred to a bank account
Hence, companies can address this complication by setting up multiple bank accounts to cover at least the most frequently used banks by their clients. The customer can then find out about which banks the given non-bank company has accounts for on the company’s internet presentation. If this is not possible, the customer can ask, for example, by phone how quickly the transfer will take place and whether he / she can actually meet the promised 24 hour period during which the loan will be credited to his / her account. Money is also sent by postal order or provided in cash. However, the majority of companies do not offer this option to send money because it is more complex and usually slower.
The choice of monthly installments
When you browse the company’s website, you can focus on calculating the total amount you pay and choosing the monthly repayment amount for the loan. The amount you choose to repay monthly should be so low to allow you some margin and not get into the situation that you will not have money in installment. In the event of delays, companies charge high penalties and, in the event of a long insolvency, it may result in the execution of the debtor’s property and his family’s property.