Payday loans

lesbro

My grandson wanted to compare different loan companies but had just opened his first bank account. Each of 5 companies asked for his bank details but he did not take out a loan. When he went to withdraw some money from his account he found that each company had taken £50 from his account. He is now trying to recover these amounts. DON'T GET CAUGHT.

BillJones

I'm glad that at long last someone has posted on here about broker fees. Now no-one else should be caught out again.

Thank you.

TadleyBaggie

Indeed, this has come as a complete shock to me.

27col

So he opens his first bank account and then his next move is to enquire about pay day loans. Seems that a bit of financial advice would not go amiss.

ConsumerWizkid

Hopefully no lender will approve your grandson as his bank account is brand new & he presumably has no previous credit lines other than perhaps a mobile contract.

Further, hopefully he learnt a valuable lesson about trying to get a pay day loan. Losing £300 is pretty much exactly what will happen if he gets approved for a payday loan so early into his financial life.