Are you facing a lot of problems in getting loans? Is it because you do not have a bank account? Then, you do not have to worry further as you can get a breakthrough.
The reason why a direct lender asks for a bank account is that fundtransfers can happen fast. However, it does not mean you cannot get a cash loan in 1 hour in Ireland without a checking account. The lenders have created the steps in such a manner that enables you to receive quick money.
When you do not have access to a bank account, you can opt for home credit loans. They are ideally designed for borrowers like you. These loans get delivered to your doorstep and not to your checking account.
Such a loan option can raise your eyebrows if they are new to you. Nevertheless, you can research and find the working procedure of these loans. Then, you will get to see how beautifully and exclusively the steps have been combined.
You do not have to face any exertions as the steps are in line with the doorstep delivery of loans. On top of this, you can expect to avail of the same facilities that are available with usual loans. Does that sound unreal?
In that case, you must take a tour of this blog. It should clear all your doubts.
Obtaining external funding without a bank account
Typically, a loan provider would ask you to provide bank account details. It is not for revealing your total balance but to transfer the approved sum of loan in your account. This is how online loans work.
Most importantly, you want to have funds in this manner. However, the doorstep process might seem to contradict the online method. Fret not!
No such things are going to happen as you can get your hands on the loan money in a speedy manner. The application will proceed virtually while some core changes will be introduced. Get to know more about the process by reviewing their features one by one.
1. Visit of a loan agent
Are you surprised? This is because, in the online process, the application is processed online. For this reason, you are able to receive the loan money at the earliest.
Now, the interference of a third person can increase the time limit of the process. You will be further surprised to see how the overall time of processing remains the same. First, one agent will visit your home to help you with the application.
In their presence, you can fill out the online form for doorstep loans in Ireland. You can further submit it online but the application will not take much time. Once it is submitted, the next steps to processing will take place.
2. The lender will process your details
After submission, the loan application will have to go through a few validations. All these will take place online and thus you can save a lot of time. Here, you do not have to face any setbacks despite lacking a bank account.
The checks will essentially involve a soft assessment of the financial profile. It will reveal whether you are in a position to afford loan payments. This should be done from the lender’s end.
All these steps take a lot less time and you can receive a decision from the lender in no time. You can see how you can get through the application even if you have not opened a bank account.
3. Analysis of your bills and bank statements
This is done to ensure that you have enough resources to cover your ongoing needs. If the payments are completed within time, the lender will be happy. This affirms them about your capability to save money for loan payments.
Besides, it establishes your responsible financial behaviour. You are managing the usual payments sincerely and this is what the lender needs. Your affordability matters the most to the lender.
Thus, you do not have to hesitate to apply for loans because of poor scores. This is because the lender will not conduct any hard checks. There is no chance that your credit scores will be revealed.
4. No involvement of collateral
The loan provider looks forward to making the lending process streamlined. Thus, a hefty process that may need a lot of paperwork is not necessary. When collateral is demanded, it will need you to provide a few documents.
Verifying them would take time and this can lengthen the approval process. Here, short-term funds are offered through a doorstep facility. There is no question of needing any assets as they are unsecured money.
Because of no collateral involvement, you will get relief from time-consuming documentation. You just have to share a few details that should not take much time.
5. Final decision and receipt of funds
If the decision goes in your favour, you do not have to worry about anything. Another agent will again come to your home. This time, it will be for the delivery of the funds.
You can see how you can receive the loan money without moving out of the home. Such an arrangement does not need you to have a bank account. You can obtain funds while being seated at home.
The process is seamless and uncomplicated. It is so easy to understand that you do not have to research extensively. Everything is transparent and simple for you to acknowledge.
6. Repayment can go on in
Since no bank account is included in this process, you might have a question regarding repayment. It should happen the way you have received the money. On the due date, you should be ready with the specified amount of cash.
Another agent will visit your place to collect the money. If you do not keep the money by your side, repayment will be late. This will not be good for the financial profile.
Your credit scores will suffer because of this. As a result, your borrowing potential will be hampered.
The bottom line
Now, you must have got your answer. A bank account is not always needed as doorstep loan delivery is possible. Apply for respective loans.
Caleb works as a senior content writer at Financealoan for the past 3 years. He is a writing enthusiast and invests a good time in exploring and writing about financial trends. His keenness in exploring a topic to create a research-based piece is simply unmatched. He believes in including a texture of authenticity with real-time examples and facts.
Caleb’s blogs and articles reveal deep-seated knowledge and expertise. His educational qualification forms the base of his excellent command over the industry and Jargon. He is a postgraduate in Finance and is currently involved in exploring the world of the stock market.
