Lightning and express payday loans are characterized by their promise of quick help and a simple way to get out of the way of a financial shortage. In addition to civil servants, retirees and employees, trainees also have the option of obtaining such a payday loan when they need it. Anyone who has never dealt with the blitz payday loan for apprentices before will come across many questions that should be clarified in advance in their own interests, so that the danger of a debt trap is reduced to a minimum.
The lightning payday loan for trainees in detail
For lightning payday loans for apprentices or other professional groups, the desired amount is usually paid within five working days. This process includes, the processing, the decision and the transfer to the new borrower. From time to time it may happen that the money is already in the beneficiary’s account after one working day. However, this circumstance depends on the order and processing situation at the bank itself.
One of the reasons for such an accelerated processing process is the internet connection to the Schufa as well as a clearly simplified procedure for the approval or refusal of a payday loan application. If the financial circumstances are clear and there are no further discrepancies in the application documents, the bank clerk can speed up the credit check enormously and thus ensure a faster disbursement of the payday loan.
Stumbling blocks and traps in lightning payday loans for apprentices
As is the case almost everywhere, there are a few black sheep in the financial industry who want to do more harm than good to their customers. As a rule, they try to capitalize on the plight of others through excessive demands. Trainees who need fast money are particularly sought-after victims. Common practices include, for example, disproportionately high fees and various financing models with prepayment.
Interested consumers should therefore know that the availability of a payday loan within 24 hours is only possible with branch banks. Advertising promises that online banks can act much faster in this context is simply wrong.
The reason for the delayed payment of an online or direct bank is the legal obligation to check all applicants by ID. Since this process works exclusively by mail, the number of processing days increases. The check can only be carried out by an employee of the post office or bank and by an officially appointed notary. Experience shows that the average processing time in this case can take up to three working days.
Get lightning payday loans / instant payday loans from private lenders
A lightning payday loan, as it is called in advertising, can come exclusively from the circle of friends or relatives. The residential credit platforms established in Germany do not offer payday loans of this kind. Their business idea basically focuses on people who are in a financially difficult life situation and whose last hope for a payday loan rests on the shoulders of private investors.
It often takes one to two weeks before the necessary capital can be made available. Only when the capital has been made available by the bidders in full, the payday loan can be disbursed. Such a payday loan can of course be interesting for trainees. On a fast-money transfer, this variant can not hope.