Looking through the offers of payday loans (even dozens of proposals presented on our website), we can have the impression that in some cases we are dealing with very similar, or even the same loans.
The maximum amount, repayment period, free loan amount, interest and commission, conditions for obtaining payday payment and formalities, extension fee, the content of the contract and regulations – everything is the same. The only thing that allows us to state that we are not dealing with copies of one website is the website layout and contact details.
Although here there is no rule, our impression is not unfounded
At the very bottom of the page or in the ‘About’ tab you will find information to which company a given website belongs to. For example, on the Polish non-banking market, the Ferratum Bank group includes the Express Credit and TALK brands. Ofin.pl is also its intermediary.
Payday loans are granted according to the same rules in all these brands. Another example of brokerage is associated with the company’s C-finance and S-Loan.
In the first structure we will find companies such as Lend and Extra Credit and in the second – Plus Lending. In these cases we are dealing with different offers, but the terms and conditions for their provision are almost identical.
Brokerage in payday loans
What does it mean for us, as customers, that a non-banking company acts as an intermediary for another brand? First of all, if one lender accepts your application negatively, then we will not get payday pay at the other.
Another “inconvenience” associated with the brokerage in the loan industry is that if we pay back payday loans in one company, the other will reject our application because you cannot have two loans at the same time.
Get payday loans for free
As new clients, we will not get payday loans for free when we have already received a free loan from one of the brokers. For example, when we used the offer at Express Loan, and then we would also like to repair the wallet balance as a new customer, unfortunately, we are not entitled to pay a 0% payday loan.