Frequently Asked Questions

  1. Home
  2. FAQs
  3. Application to Payout
  4. Why do lenders pay the loan into the guarantor’s bank account?

Why do lenders pay the loan into the guarantor’s bank account?

To protect them (and you) from fraud 🛡️

Also to make sure that your guarantor knows what is going on with your loan 🔍

Your guarantor can then transfer the money to you, via bank transfer, give you the cash or write you a cheque – whichever is easiest for you both.

 


> Everything you ever wanted to know about being a loan guarantor <