Online credit comparators are working harder to offer quick and efficient services to consumers, but can you really get credit with an immediate transfer? Explanations.
Online credit: operation
Many comparators and credit organizations offer simplified online procedures to obtain a consumer loan, and more specifically a personal loan. This loan, the maximum amount of which is 75,000 dollars and the repayment period of 7 years, systematically requires filing an online request involving the filling of a form available to Internet users. This form must make it possible to specify all the information relating to the situation of the borrower and the need for financing. After several steps and several information entered, the borrower can obtain different credit proposals allowing him to finance his personal project.
At this stage, it is only a simulation taking into account the information provided by the consumer. In order to obtain complete validation of the online credit application, an advisor must verify the information, therefore, in particular, the identity of the consumer, and ensure that the latter has sufficient capacity to be able to repay this loan. Online credit applications will, therefore, require several supporting documents that the consumer will have to provide quickly.
Can we get an immediate transfer?
Many consumers interested in applying for credit online legitimately wonder if it is possible to obtain an immediate transfer of the requested amount when entering it. Payment of the online credit amount to the consumer’s bank account can only be made after validation of the financing by the credit organization and after compliance with the legal withdrawal period. Most lending organizations can announce a financing agreement in less than 24 hours, but it is compulsory for the consumer to provide supporting documents regarding the request in order to validate the completeness of the file (RIB, identity card, last 3 account statements…). Obtaining immediate online credit is therefore not possible since the procedures must be respected and in particular the withdrawal period.
French consumer credit legislation imposes a withdrawal period of 14 days for all consumers. This period is simply incompressible, it allows a borrower to reverse his decision in case of doubt, it is, therefore, a necessary and above all logical period in consumer law. This simple legislation is enough to justify the impossibility of obtaining credit with the immediate transfer.
Simulate immediately on the internet
If obtaining the sums necessary to finance the personal project implies respecting a process and deadlines linked to the legislation, the simulation procedures can be carried out at any time and the result is above all immediate. This is the advantage of being able to go through the internet as part of a consumer credit contract offer, consumers thus very quickly obtain several proposals allowing them to compare and negotiate the best repayment terms. It is important to remember that credit is a commitment and that you must respect the repayment conditions imposed by the financial institution.