Why do payday loans ask for your national insurance number

gregswhu26

Why do payday loans ask for your national insurance number? It just seems like an odd thing to ask for as you dont get asked for this when applying for any other kind of credit.

What information can they actually obtain from your national insurance number?

honey9

A lot of companies say it increases the speed of getting a loan. I assume because they can check you are who you say you are, often people get payday loans as a last resort so I guess if they're dealing with fairly desperate borrowers they want to make sure they're really them!

gregswhu26

ok but where do they check the NI number? i mean they dont do credit checks so what info can they get form the NI number?

jonesMUFCforever

If you have a NI you have the right to stay and work here - foreigner johnnie might apply and !!!!!! off without paying.

SnowTiger

jonesMUFCforever wrote: »

If you have a NI you have the right to stay and work here - foreigner johnnie might apply and !!!!!! off without paying.

Or make up an NI number.

PNPSUKNET

192.com overs national insurance verification

SnowTiger

PNPSUKNET wrote: »

192.com overs national insurance verification

Do they? I didn't know that.

Big Brother really is watching.

paddyrg

1) to authenticate you and 2) to help track you down if you vanish/change name!

Apples2

SnowTiger wrote: »

Or make up an NI number.

Cripes!!!! Why has nobody ever thought of doing that before?

How can they defend themselves if people make up random numbers?

SnowTiger

SnowTiger wrote: »

Or make up an NI number.

Apples2 wrote: »

Cripes!!!! Why has nobody ever thought of doing that before?

How can they defend themselves if people make up random numbers?

I wasn't aware that the government, presumably the DWP(?), makes its National Insurance database available to third parties.

Apples2

SnowTiger wrote: »

I wasn't aware that the government, presumably the DWP(?), makes its National Insurance database available to third parties.

No idea, you could be right. You NI is required to open an ISA so I guess the banks must know.