In the past, to apply for a loan, many people had to spend a lot of time on the queue in banks and have to fill long tedious forms. But with the coming of gadgets and the internet comes simplification. With the advancement of technology, the process of obtaining loans has now been made easy. The internet has made many things more convenient, quicker, and faster from researching what you want to the more specific, like making a loan application. However, this speed also comes some danger.
Many are aware that when engaging in activities online, it is best to do so with great caution to avoid telling sad stories. Regarding online loan applications, some companies are unverified. Many have had encounters with these companies and have reported them to be a scam. When making online loan applications, it is safer to make these applications with only accredited applications. With these companies, you can get your needs met without being endangered.
How to find reliable loan companies in Philippines
Getting trusted agencies that you can obtain 5000 loan can be quite challenging, and as with most online transactions, care should be taken to ensure that you don’t fall victim to scam loan companies. But there still exist accredited, reliable companies that people may obtain loans from online.
There are several factors to consider when you come across a company that claims to be lending to people online. Some of these factors may be seen in their terms, such as the maximum lending amount, terms of payment, payment options, processing speed, and the interest rates are ways to know whether a company is out to take advantage of you. Details are further supplied below.
Signs of legitimate or scam loan company
- Certificate of Authority from SEC
A distinct way to know if a company is accredited is by confirming from SEC, that is, the Securities and Exchange Commission. Online companies ought to be registered with the Securities and Exchange Commission. The Certificate of Authority from SEC is proof that the company is legitimate and is safe for business.
- Communication channels
One other feature of a reliable online loan company is that it also has a good means of communication. Trusted companies have a secure channel of communication where borrowers can send their questions or express their grievances. Although having a physical location is not mandatory, it is an excellent way to determine if a company is legit. Having a physical location means that customers can have access to them at any time, and the company is not dodging from communication.
- Payment Terms
Some online loan companies have payment terms that seem too easy to be true, but this is one of the signs to know a reliable company. Companies with precise, clear-cut payment terms are likely to be genuine. On the other hand, those with onerous, ambiguous terms should be approached with caution.
- Details Required
Reliable companies will ask for your general details such as name, address, reports of your financial capacity, and so on. However, when any company starts getting more specific, demanding your bank account or credit card details, you must flee from them. It is a major red flag, and it is wise to abort all pending transactions with such companies.
- Processing Fee Involved
No genuine company will ask you for out-of-pocket expenses. Many companies will usually deduct their processing fee from the loan sum upon disbursement. If a company asks you to pay any amount before your loan is processed or to accelerate your loan processing, consider such a request a red flag and avoid them.
Is Robocash a scam or legit company?
Is Robocash legit? To know whether Robocash is legit, we must understand what makes a financial company in the Philippines legit. Any legitimate financial company operating in the Philippines must obtain the required permission from the Securities and Exchange Commission (SEC). SEC has the names of all companies registered with it on its website and can be found on sec.gov.ph.
Robocash has been accredited by SEC in the Philippines, and its details are available on SEC’s official website in the list of financing companies.Its registration number is CS201730459. It means that it operates legitimately in the Philippines and can be trusted for loan applications.
Robocash loan requirements
Applying for a loan here is simple and easy to follow. Go to the website (robocash.ph) and create an account. When this is done, you will be directed to upload your phone number and valid means of identification. Once this is done, proceed to make your loan application and select the amount you wish to follow.
If you do not see the SMS code on your phone, request it to be sent again. Upon approval of the application, you will usually see the loan reflect on your account immediately or within a maximum of 1 days.
Advantages of Robocash
Robocash is a trusted financial organization registered in line with the Philippine laws. If you have an urgent financial increase with need a short-term loan, it is always available and a go-to. Within the time it was registered, over 300,000 loans have been issued out. The chances of getting your loan approved are high as, according to statistics, more than 95% of applications for loans have been approved.
The company also operates a seamless, easy-to-use model for application and disbursement of loans. Many have reviewed Robocash as very reliable, convenient, and accommodating. You can depend on the company and trust that there is no scam in Robocash. The methods of operations are transparent and are guaranteed to give you assurance and comfort
