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Why do payday loans ask for your national insurance number

gregswhu26
gregswhu26 Posts: 6 Forumite
in Loans
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?
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Comments

  • honey9
    honey9 Posts: 60 Forumite
    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
    gregswhu26 Posts: 6 Forumite
    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
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If you have a NI you have the right to stay and work here - foreigner johnnie might apply and !!!!!! off without paying.
  • SnowTiger
    SnowTiger Posts: 4,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    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
    PNPSUKNET Posts: 4,265 Forumite
    192.com overs national insurance verification
  • SnowTiger
    SnowTiger Posts: 4,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    PNPSUKNET wrote: »
    192.com overs national insurance verification

    Do they? I didn't know that.

    Big Brother really is watching. :(
  • paddyrg
    paddyrg Posts: 13,543 Forumite
    1) to authenticate you and 2) to help track you down if you vanish/change name!
  • Apples2
    Apples2 Posts: 6,442 Forumite
    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 Posts: 4,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    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
    Apples2 Posts: 6,442 Forumite
    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.
This discussion has been closed.
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