It is not uncommon for consumers to suddenly and of course best of all immediately need a loan. The best thing would be an instant loan with lightning transfer, where the loan amount is then available ad hoc. Some banks advertise the instant credit with lightning transfer directly online, so it could be the perfect solution for acute money worries. The only question is, what does the credit transfer with Fine Bank cost and how quickly is it really available? We have carried out appropriate research and report on the topic in the following article.
How quickly can the customer have an instant credit with lightning transfer?
How quickly a borrower actually has the loan at personal disposal depends on various individual factors. On the one hand, it matters what type of loan it is and on the other hand which bank the customer chooses when submitting his instant loan application. In principle, many banks today advertise with an instant loan, express credit or something similar. But advertising alone does not guarantee that the money will ultimately be available as quickly as expected. Installment loans today are standardized banking products that are processed automatically, but there are still organizational processes that take a certain amount of time.
Especially with credit offers that are submitted online, the banks suggest to the consumer that the processing is particularly quick. But – any loan that is approved online must be checked later, when the contract documents are available with the bank, before the money can actually be paid out. The instant credit with lightning transfer is no exception, it also requires a reviewing check by a loan officer of the paying bank. The quick online approval is only based on the information provided by the loan applicant in the application. If everything fits, online credits are automatically approved, but only temporarily and without obligation until a clerk can check the information for accuracy.
In addition, the customer must either print out his loan application himself or have the bank send it to him by post in order to be able to provide it with his signature. The signed contract must then be sent to the bank by post. This procedure and the postal service alone take at least two bank working days. Therefore, even with an instant loan with lightning transfer, it takes several bank working days until the money is booked into the borrower’s checking account and is available for free use.
How the instant loan can go faster
If you need money very quickly, you should contact a branch bank or your local bank directly. The required documents can then be checked directly on site so that there is no time for mail. It is of course also possible to apply for your loan on the branch bank’s homepage and then to complete all the necessary formalities personally. However, it only happens in exceptional cases that the loan is then paid out immediately. If you want to make provisions in the event that liquidity is urgently and urgently required, you should have a high-availability credit facility set up at your house bank or use an on-demand credit facility.
The call credits are generally significantly cheaper than the overdraft facility and are not linked to the management of the checking account. The money from overdraft facility or call credit is available much faster and is the best solution whenever an instant loan with lightning transfer is not possible. Another alternative is offered to consumers who always want to hold a liquidity reserve by using a so-called revolving credit card. Here, too, cash can be withdrawn from the ATM immediately within the credit limit if required, which is then immediately available for free use.