Bank and non-bank loans are in the vast majority paid by bank transfer. Of course, it has a lot of advantages – it is fast (money can be credited almost immediately), comfortable, the client does not have to go anywhere, and the lender does not have to have any stone branch or sales representatives who would pay the money. On the other hand, there is a group of people who prefer to pay a loan in cash on hand and that is why some providers allow this payout option.

Which companies offer hand loans?

Which companies offer hand loans?

There are not many lenders who offer their clients the option of paying cash, but a few can be found. Perhaps the best-known example is Provident Financial, which allows loan-seekers to choose between cash and non-cash loans. Another option is the XS loan (which is incidentally also from Provident), other alternatives include Smart Loan, Fair Credit or Tommy Stachi. Some loans can be paid at the post office or through a postal order, such as a Tesco loan or Ferratum.

Who is the loan for hand?

Who is the loan for hand?

Anyone who meets the requirements of a given provider can apply for a hand loan. However, due to the parameters of these loans, typical clients are mainly those who do not have their own bank account. These are often people affected by distraint, for which standard loans do not come into consideration. In some cases, however, people who use the account normally take the loan on hand and the provider’s specific offer suits them.

The main benefits of loan on hand

The main benefits of loan on hand

  • even for those who do not have their own bank account

  • if the company has a sales representative, it will bring you money to your home

  • often the payout is very fast and you have money within one day of the application

  • some companies can also pay for a hand loan in tobacconists or gas stations

  • selected hand loans can also be obtained free of charge without fees and interest (eg Zaplo)

The biggest disadvantages of loan on hand

The biggest disadvantages of loan on hand

  • Usually, these loans are associated with very high interest rates

  • often such a loan is significantly more expensive than non-cash (eg Provident)

  • if you send money by post money, you have to wait a few days

  • You have a much smaller choice, only a small percentage of providers offer a cash loan

Fraud Hand Loans

Fraud Hand Loans

Given the growing number of people with execution, the number of buyers is increasing in cash. But a hand loan in some ads may not be honest and can be a sophisticated scam. People offering such fraudulent loans rely on the credibility and inexperience of applicants and often fraudulently lure them out and give them no credit. To summarize the most important lessons to avoid fraudulent lending, we recommend the following two rules in particular:

  • never pay any fee in advance (unless it is a symbolic crown) – those who want fees in the hundreds or thousands of crowns in advance are 99% fraudsters

  • arrange a loan online over the internet, never over the phone – scammers often run overpriced lines, where a minute of talk costs about 90 CZK – one phone call can cost you a few thousand

How to Choose the Best Loan for Hand?

How to Choose the Best Loan for Hand?

Even though you may find it difficult to choose the best loan and you are not very familiar with the world of finance, believe that finding a suitable loan is not difficult. All you have to do is use one of the independent web-based loan comparators to find a detailed and well-arranged comparison of bank and non-bank loans, including those that are paid out on hand. In addition, these portals include detailed reviews, various hints and tips, and the loans they include are always proven and absolutely safe.