Online microloans with identification through BankID: special features

MFIs of Ukraine strive to make the process of applying for a loan and completing online registration as simple and fast as possible. For this purpose, they offer the possibility of verification using BankID.

BankID system - what is it?

In short, BankID is one of the convenient and safe methods of identifying a citizen from the database of a bank in which he has a current, deposit, pension, card, salary or any other account.

Online identification through BankID allows the MFI to waive additional verification of the loan applicant's documents. Since these documents have already been checked and confirmed by the bank serving the potential borrower.

The working principle of BankID systems

To take online loan through BankID, you need to perform a few simple actions:

1. On the website of the MFI, start filling out the microcredit application in the standard way.
2. Click on the active link "Log in via BankID" (the redirection to the state site will be performed automatically).
3. In the new window, click on the term with the name of your bank. Get acquainted with the list of data that will be transferred to the creditor. Confirm consent to data transfer.
4. Specify the "login-password" pair from the personal account of the servicing bank.
5. Enter a one-time code that will come in an SMS message (the authorization method may be second depending on the bank).

Having received the secret code (which means your consent to the transfer of MFI data), the servicing bank will instantly send information about you from its system to the microfinance company's system.

The following information is provided:

1. FIO;
2. Date and place of birth;
3. E-mail address;
4. Details of passport and TIN, scanned copies of documents;
5. Registration address;
6. Telephone number.

On average, the BankID identification procedure takes no more than two to three minutes.

BankID and cash loans

If you want to take a microloan in cash, you can also identify yourself using the service. Submit an online application on the website of the chosen credit institution, get its approval and visit the nearest MFI office.

There are no restrictions on identification through BankID. After passing it, you can get both a paid and a free microcredit, a long-term or short-term loan.

BankID NBU and BankID - is there a difference?

There is no difference, in both cases the systems function the same and are recognized as electronic services for confirming personal information. The difference between them lies only in the list of banks through which identification can be carried out.

Thus, customers of PrivatBank and Pivdenny banks will be offered verification through BankID - a system that also works according to the regulated standards of the National Bank of Ukraine.

Is it worth using the system?

By agreeing to be identified through BankID, a potential borrower receives a number of advantages:

• Information is transferred according to NBU standards: personal information cannot be lost or transferred to third parties;
• The period of consideration of an MFI request is shortened;
• The verification service is available for free and around the clock;
• The probability of receiving a positive decision from the creditor is increasing.

When using the BankID system, the number of fields in the application for a microloan is reduced, there is no need to upload a photo or scanned copies of documents (passport and TIN).