Applying for a loan in 24 hours without credit bureau is no problem. Numerous loan offers advertise with this slogan. The article describes more about the loan without credit bureau and how to apply for it.
Credit in 24 hours without credit bureau – online is much faster
A credit in 24 hours without credit bureau is applied for online. The procedure initially corresponds roughly to the online application for an instant loan. Just like with instant credit, it is about being able to process the loan as quickly as possible. When the loan application is sent, however, there is no usual immediate check.
It is precisely at this point in the procedure that ordinary loan applications and loan applications for loans without credit bureau differ for the first time.
A loan without credit bureau must always be checked manually. The credit intermediary does not decide on the lending itself. He forwards the application to potential donors abroad. The processing speed of the different foreign banks cannot always be accurately predicted. In simple cases, the intermediary can have the preliminary loan approval within a few hours.
Working with a lender from abroad cannot be avoided. Only with a foreign loan is it possible to completely do without cooperation with credit bureau. Only the credit “despite” credit bureau, but not a credit “without” credit bureau, is decided in Germany.
The terminology is not a play on words. “Despite” means that the credit bureau can be viewed and the approved credit can be entered. “Without” means that credit bureau remains completely excluded from the procedure. An approved loan is therefore not passed on to credit bureau.
Requirements for the loan without credit bureau
A loan in 24 hours without credit bureau is, like every loan request, tied to the requirements. If the goal is to get a quick credit approval, proof of income is the most important prerequisite for credit assessment. The income must ensure the security of the loan.
The credit bureau is not switched on to check the creditworthiness, but of course various other checking options are used. Not only credit bureau stores data about payment behavior. The focus of the review is on the risk of a possible garnishment of wages. If there are no concerns, the foreign bank gives the “green light”.
The preliminary loan approval is in the mailbox by email, usually just a few hours after the online application has been submitted. The pre-filled loan application is attached. As is usual with online loans, this must now be sent to the credit intermediary using the Post-ID procedure.
Payment speed for online loans without credit bureau
All online loans currently have to be sent to the lender using the Post-ID procedure. This significantly affects the payment speed. Approximately two working days have to be expected for the transport route. The new ID card could help with this speed brake. The first institutes already allow accounts to be opened using this ID verification method.
If the application for the loan arrives at the lender in 24 hours without credit bureau, then it is quick again. A modern international transfer hardly takes longer than a domestic transfer. At the latest in 2014, with the introduction of the new European transfer procedure, the transfer time is only one day.