What are my options to get a loan when I don’t have a bank account for execution?

Having a distraint on a bank account is nothing pleasant – such a situation obviously brings a lot of complications and inconveniences. One of the negatives of execution is that you can practically not use your account – otherwise you would lose money on it. Therefore, if you are in execution, no bank will lend you, and many non-bank companies have many who have bank account ownership as one of the main terms. What are the options for people who necessarily need credit, but who cannot get it on their own account?

Bank loans without account

Bank loans without account

In the case of banks, people with execution have bad luck – no bank will give you a loan in this case and so it is not worth asking for it. It is therefore necessary to choose a different solution and turn to the non-banking sector where the situation is more favorable for this group of risk clients.

Non-bank loans without an account

Non-bank loans without an account

For non-bank companies, there are already considerably better options – even though there are many companies that do not borrow money from a bank account (often a one-crown verification fee is required, so the client cannot send money to a friend or relative), but there are also a few providers who focus on this clientele and also allow alternative ways of paying.

In what ways can a loan be paid when you can’t have it sent to a bank account?

In what ways can a loan be paid when you can

There are several ways to redeem cash and choose the right loan right away and you can go online, among other things, depending on which one is best for you. What forms of payment are they?

  • cash on hand at the place of residence – in such a case the sales representative of the credit company will bring you the money – this method of payment is especially known to Provident Financial, besides him we can name for example XS loan or Smart loan
  • cash on hand at a branch of a company – here you need to go directly to the branch of a given company and have the money paid out at their place – this form of payment is operated by eg Teddy Picho, but it has a branch only in Prague
  • in cash, which is sent by postal money order – a rather popular method of paying money, which many people prefer. But not many companies offer it, one of the exceptions is Ferratum Bank
  • cash on hand at gas stations – a relatively unconventional form of payment, it is offered by Credit Portal, whose credit you can collect in cash at EuroOil filling stations
  • by transferring to a lightning wallet – even in this case it is a payment offered by Credit Portal. Lightning wallet is an ideal product that is tailor-made for people in execution – you can keep the card as anonymous and if you do not provide your own name to it, the executor cannot access your money
  • by transferring to the account of a third party – in some cases the providers do not verify in any way whether the bank account is yours or someone else – you can arrange eg with someone from your family or with one of your friends and send the money to his account

So the possibility of getting a loan, despite the fact that you can’t have it sent to your own bank account, is quite a lot. On the other hand, it is important to add that these are mostly small loans, often with short-term maturities and often with high interest rates. However, a person in execution is logically a big risk for providers and therefore these companies insure themselves with higher interest and fees, or they do not give the loan at all. Other options are available to those who can guarantee real estate for a loan – they can already get a relatively high loan, but they have to pay it back – otherwise they can lose their property and, in extreme cases, even remain without a roof over their heads.

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