Anyone looking for a loan usually compares the offers of the individual financial institutions with each other. The Internet offers plenty of opportunities to find the best deals. But sometimes a comparison is of little use if the money is urgently needed. The first point of contact is then either the house bank or another branch bank, because this is the only way for the borrower to receive the money in cash at the counter.
When things have to go quickly
Loans can be applied for over the Internet, but the payment is made by transfer to the borrower’s checking account. It takes a few days for the entire process to be completed. Documents must be submitted to the bank and both business partners must sign the credit agreement and send it back.
The transfer can also take a few days, especially if there is a weekend in between. However, if the money is needed immediately, there is only the way to a branch bank for the reasons mentioned, even if the conditions here are worse than at online banks.
The branch banks are faster
In most cases, the house bank is the first address for an instant loan with cash payment. An appointment with the clerk is quickly made. If one agrees and there are no complaints at Credit Bureau, a loan contract is concluded. Usually, the money is also transferred to the borrower’s account at the branch banks.
However, to speed up the process, the borrowers can also have the money paid out in cash. It is not unusual. That is also the decisive advantage of a branch bank, because of course no cash payments are possible over the Internet.
Good offers are lost
In the case of an instant loan with cash payment, borrowers must be aware that they must forego the advantage that a bank comparison can bring. Borrowers have to accept higher interest rates and poorer conditions with an instant loan with cash payment.