SafetyNet Credit Alternatives

Sky_Shrimp

Thanks for the advice. I'm not going to change my password until payday (when I know they have their money repaid in full). If they can't access your account at any time, they'll start attempting to take the full amount early. I doubt I'll ever need a payday loan again after this week. I'd be in trouble if it wasn't for Safety Net. Well worth the £20 fee.

So is Safety Net the only payday lender that only asks for your bank login details? I can't use some of the other lenders as my birth certificate is missing and my passport needs renewing.

Richey_

https://www.safetynetcredit.com/responsible-lending

Even their website advises against what you are using the money for.......!!!

A SafetyNet Credit account should not be used if you lack control of your expenditure
A SafetyNet Credit account should not be used to purchase something non-essential

Sky_Shrimp

With 250 views, I'll assume there isn't an alternative lender then.

Thanks anyway

wizzywig27

Have a beer for me because I can't see this ending well

DCFC79

Sky_Shrimp wrote: »

Probably.

Giving them your bank login details fast-tracks the process. You don't have to give them any additional ID. I'd like to know of other lenders that fast-track as I need the funds today ideally.

Are you daft ?

Who in they're right minds gives some fly by night lender access to they're bank account, 1 of the terms you agree to is not to give anyone else access.

Maybe your in luck as no money is in there.

In future dont go anywhere near these shysters.

DCFC79

Sky_Shrimp wrote: »

My new job pays monthly instead of weekly, so I needed a small loan of £250. My bank refused to temporarily increase my overdraft due to a default on my credit rating/score. The bank told me not to apply for any loans for 90 days after that application.

I Googled payday loans and tried a few but got turned down. Then I found SafetyNet Credit. They wanted my bank login details which was strange, but I applied for £300 and immediately got £150 in my account. All the other PayDay lenders are refusing me. Is there another one like SafetyNet that I could try to get £50 to £100? :beer:

I can categorically say your bank did not refuse to lend to you based on your score unless they are mind readers, they refused to lend based on your credit file, its 2 different things.

Why do you need beer ? Do without, buy the essentials only.

While your at it learn to budget with going from a weeks pay to paid monthly.

dresdendave

Giving out bank login details to some random online lender....because you "need" money to go out for a few beers?


I'm hoping this is a wind up, but sadly it's probably isn't.

Missus_Hyde

Are you off your head? You should never, ever give your online banking login details to anyone else least of all some shyster sub-prime lender you only just found online. Change your online banking passwords immediately and then head on over to the Debt Free Wannabe board for tips and advice on how to budget properly.

Sky_Shrimp wrote: »

Thanks for the advice. I'm not going to change my password until payday (when I know they have their money repaid in full). If they can't access your account at any time, they'll start attempting to take the full amount early...???!!. I doubt I'll ever need a payday loan again after this week. I'd be in trouble if it wasn't for Safety Net. Well worth the £20 fee

Reading their website, it really is close to insanity to give them your bank details. However, with the sort of cavalier attitude you seem to adopt towards borrowing money and giving out confidential information, no advice in the world will make any difference. :doh: :eek:

poppasmurf_bewdley

I'm expecting another post in the next few days along the lines of:

"Someone has accessed my bank account and emptied it. I've never heard of this firm before. How have they done this?"

It all sounds so familiar. :(

Sky_Shrimp

They must be very busy as they seem to be the only lender in the UK that gives loans to those with bad credit files.

I'll update on what happens next week if anyone is interested.