How it Works
You may have seen ads online or on social media for companies promising instant approval on loans. While some may be legitimate, most are a scam. If a company is promising approval without a credit check, asking for a fee upfront or telling you they need access to your online bank account details to fund the loan, it’s a scam.
The only lenders that can offer you a loan without pulling your credit is a valid payday lender. Otherwise, all other lenders are required to pull your credit before they can make a decision on your application for a loan.
What to Do
Never give out your digital banking credentials. Legitimate companies like SPIRE will never need your digital banking account login information to fund the loan or for any other reason. Providing login credentials to someone that is not on your account puts you and your account at risk of fraud.
Never pay an upfront fee to apply. Any time a company is asking for a fee to be paid upfront is a scam. If there are any fees associated with your loan they will be deducted from the loan proceeds.
To learn more about this scam, please visit the Federal Trade Commission Website. For more information, please visit myspire.com/fraud.
The information contained in this article is meant for general informational purposes only. You should not rely solely on one piece of information to protect yourself from ID Theft and/or fraud and in no way does SPIRE guarantee that ID Theft and/or fraud will never occur if you follow these recommendations.
SPIRE has made the utmost effort to make sure the information contained in this article is up-to-date and accurate. Under no circumstances shall SPIRE be liable for any loss or damages arising directly or indirectly from the use of the information provided within this article.
Third-party websites are provided for convenience and accessing these sites is at the risk of each user. We have no control over the material or services on these sites and we have no liability for the content, accuracy, legality or function of these sites.